Tokio Marine closes Pure Group acquisition

Tokio Marine Holdings has completed the acquisition of Privilege Underwriters and its subsidiaries, known as the Pure Group, in a deal valued around $3.1 billion.

The insurance group specialises in the US high net worth (HNW) insurance market and is acquired by Tokio Marine’s wholly owned subsidiary HCC Insurance Holdings.

Tokio Marine said the financial results of Pure Group will be consolidated into the financial statements of TMHD from the first quarter of fiscal year 2020 onwards.