Insight and Intelligence on the London & International Insurance Markets 15 Dec 2017
Tokio Marine confirms HCC’s AIG medical acquisition
- 3 October 2017
US specialty insurer HCC Insurance Holdings has confirmed plans to buy AIG's $350mn gross written premium (GWP) medical stop-loss business.
Terms of the deal, which is expected to close on 15 October, were not disclosed, but HCC is likely to pay more than 30bn yen ($266mn).
In a statement, HCC parent Tokio Marine said: "TMHCC's medical stop-loss has maintained consistent profitability for many years. Due to medical stop-loss' low correlation to TMHCC's other business lines, TMHCC and our entire group...
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