Tokio Marine to acquire US employee benefits firm Standard Security

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Tokio Marine to get United States fringe benefit solid Criterion Safety

Tokio Marine Holdings is supposedly obtaining a US-based insurance provider operating in the fringe benefit room, in an offer that might be worth US$ 184 million.

The Japanese insurance coverage titan is readied to get Criterion Safety Life insurance policy Co. of New York City after the events have actually gotten to a fundamental arrangement on the bargain, according to a record by Nikkei This will certainly offer Tokio Marine accessibility to the American SME fringe benefit market.

Dependence Criterion Life Insurance Policy, a subsidiary of Tokio Marine-owned Delphi Financial Team, will certainly serve as the customer in the deal. Criterion Safety gives fringe benefit items such as insurance coverage for paid family members leave as well as special needs advantages insurance coverage.

The step will certainly likewise expand Tokio Marine’s impact in the United States, in the middle of numerous abroad procurements that intend to spread out the insurance provider’s threat account in the middle of a going stale insurance coverage market in Japan.

In January, Tokio Marine’s United States system Philadelphia Insurance Business got the staffing insurance coverage service of Globe Wide Specialized Programs. One more significant abroad procurement on June 2020 saw Tokio Marine purchase GCube, a British insurance provider dealing with the renewable resource sector, via its Tokio Marine HCC arm.

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