Tokio Marine Holdings’ net profit increased 42% to ¥214.04 billion ($2.31 billion) in the nine months to December 31, driven by a US-led upturn in global economic growth.

The Japanese underwriter says stronger global conditions helped soften the impact from sluggish European economies.

Underwriting income – including revenue from general and life – grew 3.6% to ¥2.61 trillion ($28.12 billion) and underwriting expenses increased 1.2% to ¥2.45 trillion ($26.4 billion).

Tokio Marine is the parent of Tokio Marine & Nichido Fire Insurance, Nisshin Fire & Marine, E.design Insurance and Tokio Marine & Nichido Life Insurance.