Berkshire Hathaway has agreed to invest $1.8bn in Tokio Marine as the new chief executive at the US conglomerate expands a bet on Japan kicked off by Warren Buffett.
As part of a wide-ranging deal announced on Monday, a subsidiary of Berkshire will buy a 2.5 per cent strategic stake in Tokio Marine, one of the “big three” Japanese non-life insurers.
The US company will reinsure a percentage of all the business done by the Japanese group and the two groups said they would “collaborate on global strategic investment opportunities, including M&A”.
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