Tokio Marine: To Buy Extra First Insurance Company Of Hawaii Stake For $165 Million
11 August 2011 - 5:19PM
Dow Jones News
Tokio Marine Holdings Inc. (8766.TO) said Thursday it will
acquire First Insurance Company of Hawaii for about $165 million
(Y12.9 billion).
Japan's largest nonlife insurer, which already owns a 50% stake
in the Hawaii-based insurer, will acquire all First Insurance
Company of Hawaii shares from CNA's Financial Corporation's unit,
the Continental Insurance Company, after getting approval from
regulators in the U.S. and Japan.
Tokio Marine said it will use cash on hand to buy the stake.
-By Atsuko Fukase, Dow Jones Newswires; 813-6269-2792;
atsuko.fukase@dowjones.com
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