Reliance Standard Life, owned by Tokio Marine's US group Delphi Financial, agreed to buy Standard Security Life Insurance Company of New York from Independence Holding Company for $180 million in cash. Standard Security sells employee benefits in New York, including the state's required short-term disability and paid family leave coverage. How it came out Nikkei first reported the talks. The deal gave Tokio Marine's US group access to employee benefits for small and midsize New York employers. Tokio Marine's US buying Delphi Financial joined Tokio Marine in 2012. Earlier in 2021, its US unit Philadelphia Insurance bought the staffing insurance business of World Wide Specialty Programs, part of a steady run of smaller add-ons as growth at home stalled.
