Tokio Marine To Acquire HCC Insurance (HHC) For $7.5 Billion

Tokio Marine Holdings of Japan said Wednesday that it has agreed to buy U.S. specialty insurer HCC Insurance Holdings Inc (HHC) for $7.5 billion, making the acquisition the largest by a Japanese company so far this year and the largest ever by a Japanese insurer. Before the latest deal, the Japanese insurer had made $8.8 billion worth of purchases in North America.

Tokio Marine to pay $78 in cash per share

Thanks to an aging population sapping demand for policies, Japanese insurers are looking for ways to spread risks and enhance revenues overseas....