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Mitsui eyes UK expansion

Japanese firm Mitsui Sumitomo Insurance Co is considering following compatriot Tokio Marine's example and expanding its London presence by buying an insurer within two years, according to reports.

Mitsui also aims to double its Lloyd's annual capacity - through syndicate 3210 - to around Y100bn ($1.2bn) to catch up with its rival, Reuters reported, quoting The Nikkei business daily.

Tokio Marine made a Y95bn acquisition of Kiln in 2008.

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