INTERVIEW: Tokio Marine Eyes More M&As in Asia

June 26, 2018

Tokyo- Tokio Marine Holdings Inc.'s will keep seeking mergers and acquisitions deals in Asia outside Japan in the next year or two, Tsuyoshi Nagano, president of the Japanese nonlife insurance group, said in a recent interview with Jiji Press.

Amid a shrinking domestic nonlife insurance market due to an aging population, the company plans to target developing Asian countries that are expected to grow further.

On Tuesday, the group announced its acquisitions of two nonlife insurance companies in Thailand and Indonesia.

Tokio Marine will push forward its overseas M&A promotion policy so the group can "purchase human resources and expertise to create new value," Nagano said.

He also outlined a plan to capitalize on executives at the companies Tokio Marine will acquire and speed up the process to globalize management.

The company's overseas net income accounted for nearly 40 pct of the total in the business year that ended in March. But 80 pct of the overseas income came from the United States alone.

"We'll put more weight on emerging economies mainly in Asia" in geographically diversifying income sources, he noted. Jiji Press