Tokio Marine to acquire HNW insurer Pure for $3.1bn

Pedro Gonçalves
clock • 1 min read

Tokio Marine has agreed to buy US insurance group Pure Group for $3.1bn, as the fourth-largest property and casualty insurer globally continues with its merger and acquisition strategy. The White Plains, New York-based Pure Group, with $1bn in managed premiums last year, has expanded to become one of the top three specialist insurers in the growing US market for high net worth individuals, according to the Japanese company.  It is currently majority-owned by private equity groups KKR and Stone Point. "This deal is highly complementary, and it is consistent with our merger and acquisit...

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