Tokio Marine to buy HCC Insurance for $7.53b

Deal for US group would mark the biggest overseas purchase by a Japanese insurer on record.

Tokio Marine Holdings agreed on Wednesday to buy Houston-headquartered HCC Insurance for about $7.53 billion in cash, the biggest foreign purchase by a Japanese insurer on record.

The acquisition by Japan's biggest insurer by market capitalisation tops domestic peer Dai-ichi Life Insurance’s $5.71 billion purchase of Protective Life last year. The deal is also the third-largest Asia Pacific overseas acquisition so far this year, pushing MA volume for the region to a record $93.6 billion. 

Japanese companies are the most acquisitive in the region as they seek growth outside their own moribund market. They have racked up $28.6 billion-worth of deals and account...

¬ 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 (2-10 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 (2-10 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