Tokio Marine To Acquire HCC Insurance (HHC) For $7.5 Billion

Tokio Marine Holdings of Japan said Wednesday that it has agreed to buy U.S. specialty insurer HCC Insurance Holdings Inc (HHC) for $7.5 billion, making the acquisition the largest by a Japanese company so far this year and the largest ever by a Japanese insurer. Before the latest deal, the Japanese insurer had made $8.8 billion worth of purchases in North America. Tokio Marine to pay $78 in cash per share Thanks to an aging population sapping demand for policies, Japanese insurers are looking for ways to spread risks and enhance revenues overseas. The latest deal marks the intensifying pressure on corporate…