Tokio Marine has completed its aquisition of HCC for $7.5bn.

Tokio Marine, an insurance company has completed its acquisition of HCC, a US insurance holding company comprising property & casualty, accident & health and other speciality insurance businesses, for $7.5bn. The acquisition of HCC significantly enhances Tokio Marine's operations in the United States, the largest insurance market in the world, and internationally. With strong business platforms in Japan and in international markets, the transaction solidifies Tokio Marine's standing as a truly global insurer with premier speciality franchises. The transaction further expands Tokio Marine's product offerings and capabilities. "In line with the strategy to expand our International business, the acquisition enables Tokio Marine to build a more diversified and highly profitable global portfolio with low volatility, taking into account the nature of HCC's businesses which are largely non-correlated, have limited catastrophe exposure and are less dependent on property & casualty market cycles." Tsuyoshi Nagano, Tokio Marine President.