Tokio Marine Holdings has completed the purchase of Delphi Financial and will perform as a member of the Tokio Marine.
Safety National Casualty, a wholly-owned subsidiary of Delphi Financial, CEO Mark Wilhelm said Tokio Marine’s approximately $200bn in assets, will offer Safety National unquestioned financial security for the future.
Commenting on the new deal, Safety National president Jerry Scott said, "This transaction offers new synergies and opportunities for our corporation without hindering our ability to continue on as the market leader in excess workers’ compensation. It’s a positive development for all parties."
The Japanese underwriter has already acquired Philadelphia Insurance Companies and Kiln Group, with a strategy to enhance its foot print in insurance industry.
Both firms have committed that they will begin exploring their respective markets in ordert to identify new and unique products to add to their offerings.
Founded in 1942, Safety National offers a broad range of risk funding products through insurance agents and brokers.