Tokio Marine
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Tokio Marine is likely to retain a significant portion of Pure’s $666mn of 2018 ceded premium net.
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The deal takes Tokio Marine’s overseas M&A spend to over $20bn in total.
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The $3.1bn deal eclipses other US P&C transactions this year.
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Management will buy out 100 percent of the private equity investment unit for undisclosed terms.
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The international operations, which include TMHCC and Tokio Marine Kiln, drove group earnings growth of 11 percent in the three months ended June.
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The weight of negative stories about TMK should prompt questions around its leadership and directionHiscox, Beazley, Amlin, Kiln…
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The Japanese carrier says loss derives mainly from an appreciation in the value of the yen since TMR’s launch in 2000.
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Japanese carrier’s group net profit sinks by 3.4% on domestic losses.
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The firm has sold Bail USA and all bail bond business written by select subsidiaries.
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The company, formerly HCC Specialty Insurance, was downgraded from A++ to A.
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The buyout follows the purchase of a 49 percent stake in 2014.
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High-single-digit to low-double-digit advance driven by big increases on wind and flat quake renewals.
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