Acquisitions · Health insurance (medical stop-loss)
Tokio Marine HCC buys AIG's medical stop-loss business
- Buyer
- Tokio Marine Holdings (via HCC Life Insurance) (Tokyo)
- Target
- AIG's medical stop-loss business, New York, New York
- Value
- About ¥30B / about $266M (Nikkei)
- Status
- Agreed on October 2, 2017; completed on October 15, 2017.
- Date
- 2017-10-02
Tokio Marine Holdings, through its US unit HCC Life Insurance, agreed to buy AIG's medical stop-loss insurance business, which had about $350 million in gross written premium. Stop-loss insurance covers employers that fund their own health plans against large claims. The parties did not disclose terms; Nikkei reported a price of about ¥30 billion, or about $266 million.
Why it matters
The deal adds scale to HCC's medical stop-loss business, a specialty line Tokio Marine gained when it bought HCC in 2015.
Sources
Kakehashi M&A News home
