Tokio Marine addresses sexual misconduct allegations

A “formal and independent” investigation is underway at the Lloyd’s of London underwriting arm of Tokio Marine Kiln Group Ltd. following a report that two executives were forced to resign amid sexual harassment allegations.

One executive was accused of groping colleagues at an off-site party, while the other executive was accused of stalking a junior employee, according to a report by Bloomberg.

“TMK has clear standards and policies for workplace conduct, any breach of these will be taken extremely seriously and would not reflect our company values,” a company spokesperson said in a statement Tuesday. “A formal and independent investigation is already underway and we are working with external HR advisors to identify areas where we can drive further progress.”

The Tokio Marine allegations came to light following a Bloomberg Businessweek article that outlined a culture of sexual harassment within the ranks of the Lloyd’s of London exchange, which led Lloyd’s to announce an initiative to prevent sexual harassment.