Tokio Marine completes HCC acquisition

Tokio Marine Holdings has completed the acquisition of
Texas-based specialty insurer HCC Insurance, it announced yesterday
(27 October).
The Japanese group agreed to buy HCC back in June for $78.00 in
cash per share. HCC shareholders later approved the deal at a
special meeting in September.
The company said the aggregate consideration paid in connection
with the merger was approximately $7.5bn.
As of 30 June, the US specialty insurer had assets of $11.1bn
and shareholders' equity of $3.9bn. HCC