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 Monday's ...
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 group ...
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 least ...
Japanese investors are scooping up bonds overseas to flee negative yields at home, driving a global debt-market rally. Money managers purchased a net ¥4.45 trillion of debt abroad from Feb. 12 to March 4, the biggest three-week outflow since the third quarter of 2010, based ...
Nonlife insurer Sompo Japan Nipponkoa Holdings Inc. plans to acquire nursing home operator Message Co., company officials said Friday, as part of efforts to diversify its sources of revenue in a market being squeezed by population decline. Sompo Japan plans to boost its stake in ...
Nippon Life Insurance Co. aims to strike a deal this month to buy National Australia Bank's insurance business by next March, sources close to the matter said. The major Japanese life insurer, which last month agreed to buy smaller rival Mitsui Life Insurance Co. by ...
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 chief ...
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 share ...
Tokio Marine Holdings Inc., one of the nation's oldest insurers, is joining its Chinese peers in investing in property overseas — but with a twist. Unlike counterparts like China Life Insurance Co. and Anbang Insurance Group Co., which have been buying trophy properties in the ...
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 crime ...
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 that ...
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 it ...
