Tokio Marine prepares for further acquisitions
Wednesday, 06 27 2018, Category: Insurance and Reinsurance, Country: Asia
Tokio Marine Holdings, one of Japan’s most acquisitive re/insurance companies, is reportedly looking to boost its profits by scouting for further deals in Asia and overseas with up to $9 billion in available capital, according to Reuters.
Tsuyoshi Nagano, Chief Executive of Tokio Marine, told Reuters that the firm would have sufficient capital buffers even after spending 1 trillion yen ($9.13 billion) on acquisitions.
Japanese re/insurers have been increasingly relying on foreign acquisitions in recent years due to an aging population and low interest rates at home, in addition to heightened exposure to natural disasters.