Tokio Marine Holdings’ (TMHD) sale of two European reinsurance subsidiaries is likely to streamline its holdings and boost operational efficiency in the group's underwriting businesses, Fitch Ratings says.
TMHD said it will sell Tokio Millennium Re AG (TMR) and Tokio Millennium Re (UK) (TMR (UK)) to Bermuda-based RenaissanceRe Holdings for approximately $1.5 billion.
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Tokio Marine Holdings, TMR, RenRe, M&A, Insurance, Reinsurance, Ratings, Asia, Bermuda