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Tokio Marine to Acquire the Remainder of First Insurance Company of Hawaii

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Posted on 15 Aug 2011

Tokio Marine Holdings Inc. said Thursday it will acquire First Insurance Company of Hawaii for about $165 million (Y12.9 billion).

Japan's largest nonlife insurer, which already owns a 50% stake in the Hawaii-based insurer, will acquire all First Insurance Company of Hawaii shares from CNA's Financial Corporation's unit, the Continental Insurance Company, after getting approval from regulators in the U.S. and Japan.

Tokio Marine said it will use cash on hand to buy the stake.


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