Sompo bids for US insurer Endurance

Sompo, a Japanese insurer, has been looking hard for acquisitions since last year. It has now found one.

Sompo has announced a plan to buy US insurer Endurance Specialty Holdings for $6.3 billion, joining a raft of Japanese insurers that have turned to overseas markets to boost revenues.

Japan's leading insurance companies have long been forced to look overseas for acquisitions as a way of boosting their tepid domestic revenue base. Just two days ago, for instance, Nippon Life Insurance completed the acquisition of National Australia Bank’s subsidiary MLC Life Insurance for A$2.4 million.

But investors did not have to wait long for the next deal. Sompo, which added a number of MA experts to its staff last year in a bid to find...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222