Tokio Marine to buy HCC Insurance for $7.5 billion

Tokio Marine Holdings Inc said on Wednesday it had agreed to buy U.S. specialty insurer HCC Insurance Holdings Inc (HCC.N) for $7.5 billion, in what would be the biggest M&A deal this year by a Japanese company. Tokio Marine, Japan's largest insurer by market value, expects to complete its biggest-ever acquisition between October and December, it said in a statement. With insurers among the most acquisitive Japanese companies, Tokio Marine alone has spent more than $8 billion on international deals since 2008, including U.S. insurers Philadelphia Consolidated for $4.7 billion in 2008 and Delphi Financial for $2.7 billion in 2012.

Tokio Marine to buy HCC Insurance for $7.5 billion source: http://finance.yahoo.com/news/tokio-marine-buy-hcc-insurance-105006502.html