Jul 21, 2015

Tokio Marine to use Citic to grow in China after U.S. foray

Tokio Marine Holdings Inc., fresh from its biggest acquisition in the U.S., is now looking for opportunities in China. The insurer plans to utilize its ties with Citic Group Corp., China’s biggest conglomerate, to expand in the country, Tsuyoshi Nagano, Tokio Marine’s president and ...

Jun 10, 2015

Tokio Marine buys HCC for $7.5 billion in biggest takeover

Tokio Marine Holdings Inc. agreed to buy HCC Insurance Holdings Inc. for about $7.5 billion (about ¥941.3 billion) in the biggest acquisition by a Japanese insurer, stepping up an overseas expansion to counter stagnation at home. Tokio Marine will pay $78 in cash per ...

Sep 1, 2014

In exception, gangsters to be allowed to buy auto insurance

Property and casualty insurance companies plan to let crime syndicate members buy auto insurance so that victims can be compensated in the event a gangster causes an accident, industry sources said. The move comes as the financial sector is otherwise shunning dealings with organized ...

Jul 24, 2014

Protective Life shareholder sues over $5.7 billion Dai-ichi deal

Protective Life Corp. is being sued by a shareholder who says a proposed $5.7 billion purchase of the company by Dai-ichi Life Insurance Co. is unfair to investors because other potential bidders were locked out. Dai-ichi, the nation’s second-largest life insurer, announced last month ...

Jul 3, 2014

Fire insurance premiums expected to rise 3.5% next year

An organization of casualty insurance companies said it will raise benchmark rates used to set member companies’ fire insurance premiums by an average of 3.5 percent to cope with increasing payouts following recent natural disasters. The General Insurance Rating Organization of Japan said Wednesday ...

Oct 28, 2013

Insurers' loan screening falls short

Three life and five nonlife insurers regularly extend loans via nonbank lenders without screening the borrowers themselves, sources said. The five nonlife insurers left the screening to the consumer lenders, while the three life insurers failed to screen most of the borrowers after the ...