Japan-based insurer Tokio Marine Holdings has completed the acquisition of US-based HCC Insurance Holdings, for around $7.5bn.


The deal was first announced by both firms in June this year, while HCC Insurance’ stockholders approved the acquisition by Tokio Marine in September.

Based in Houston of Texas, HCC is a specialty insurer that carries out operations in the US, the UK, Spain and Ireland.

The firm had assets of around $11.1bn and shareholders’ equity of $3.9bn, as of June this year.

The acquired business will expand Tokio Marine’s operations in the US, in addition to entering into new lines of business, including accident and health (A&H), directors and Officers liability (D&O), agriculture and other specialty lines globally.

Established in 1974, HCC provides more than 100 classes of specialty insurance products through three segments, including North America property and casualty, A&H and international.

North America property and casualty unit includes a diverse portfolio of specialty businesses, comprising D&O, agriculture, primary casualty, aviation, surety, sports and entertainment disability/contingency and public risk.

A&H segment offers medical stop-loss and other medical products, while international segment underwrites London market lines, as well as global specialty businesses such as D&O, professional indemnity, surety and credit through Lloyd’s and company platforms.

At the time of acquisition, Tokio Marine president Tsuyoshi Nagano said: "HCC is a top tier specialty insurer with market leading underwriting capabilities. Leveraging Tokio Marine’s financial strength and global footprint, HCC will further expand the revenues, profits and capabilities of Tokio Marine."

Tokio Marine Holdings, which is the insurance holding firm of Tokio Marine Group, manages domestic non-life insurance, domestic life insurance, international business, and financial and general businesses.

Image: Tokio Marine headquarters in Tokyo, Japan. Photo: courtesy of Wiiii.