Oct 5, 2016

Insurer Sompo to buy Endurance for $6.3 billion

Sompo Holdings Inc. agreed to buy Bermuda-based insurer Endurance Specialty Holdings Ltd. for about $6.3 billion (¥637.5 billion), in the company’s biggest acquisition as it expands further outside Japan. The Japanese insurer will pay $93 a share in cash, or 43 percent more than ...

Sep 29, 2016

Opaque Chinese insurers trail Japanese rivals in hunt for U.S. deals

The growth ambitions of China’s insurers could be hindered by some of the companies’ opaque structures when they pursue acquisitions in international markets, a banker at Citigroup Inc. said. “It is not that straightforward with Chinese companies,” Gautam Chawla, co-head of the global insurance ...

Sep 27, 2016

MetLife to offer staff buyouts amid investment squeeze

MetLife Inc. said its Japanese business will offer early retirement packages to some staff as the insurer consolidates operations in Tokyo to help counter pressure from low bond yields. Nonsales employees who are 45 or older and have been with the insurer for at ...

Nippon Life to start tender offer to buy Mitsui Life

Sep 11, 2015

Nippon Life to start tender offer to buy Mitsui Life

Nippon Life Insurance Co., Japan’s biggest life insurer by assets, and Mitsui Life Insurance Co. said they have reached an agreement to merge as the nation’s insurance companies seek ways to counter slowing growth. Nippon Life and Mitsui Life plan to finalize the deal ...

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 ...