According to Brad Irik, co -head of the unit, Japan’s top property and Johnny Property Insurance Company, Tokyo Marine Holdings, can spend more than $ 10 billion on acquisition to promote their international business.
Eric said in an interview that the firm, which generates about 80 % of its foreign profits in the United States, aims to bring this figure close to 70 % for all North America’s United States. He said that the company plans to financing the effort with a portion of the money received from the so -called cross -shareholders with other Japanese firms, which is priced at $ 25 billion.
“This is a generation of generations to liberate this capital and put it in a long -term, sustainable enterprise value -making business for the next several years,” said Eric.
Read more: Tokyo marines hunt for foreign deals, we see the scope of development in
Tokyo Marine Chief Executive Officer Mashairo Quick, who took helmet in June, has preferred international expansion to diversify business impressions outside Japan.
The insurance company is weighing expansion in Latin America and Southeast Asia, which aims to bring its share of Tokyo Marine’s international profits up to 10 % and 15 %, respectively, which is about 6 % today. Extension in these areas will also rely on the marketing of special lines, along with the acquisition of small personal insurance providers, which are not widely used in these geography.
Tokyo Marine is also trying to promote its special insurance operations in Australia, either through Bolt on deals or major transactions. Insurance Australia Group Limited, QBE Insurance Group Limited and Sun Carp Group Limited are the leading local players.
In Africa, Tokyo Marine will look for a 22.5 % shares in the Hallord Group instead of making the second acquisition, Eric said.
The insurance company still has the development ambitions for the United States, where it intends to focus on small achievements, partially because major opportunities meet with its existing local businesses. Nevertheless, with only 2 % trade lines business, Tokyo Marine has enough room to grow, and Irek said he would not reject any major transactions in the future.
Photo: Indicators for the Tokyo Marine Group, outside the Tokyovashi Tower Building, which includes Tokyo Marine Holdings Inc. Headquarters, Japan’s city of Tokyo, on Friday, January 19, 2024. Photo Credit: Kyushi Otta/Bloomberg
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