Japan’s Tokio Marine Holdings, Inc. announced that it has entered into a definitive agreement to acquire Indonesia and Thailand insurance businesses of Insurance Australia Group Ltd., (IAG) which predominantly comprises of Safety Insurance Public Company Limited in Thailand.
President and Group CEO Tokio Marine Tsuyoshi Nagano said in a statement on Tuesday (March 19), its unit Tokio Marine & Nichido Fire Insurance, will buy IAG’s 80% of PT Asuransi Parolamas in Indonesia and 98.6 percent stake in Thailand’s Safety Insurance.
Tokio Marine forms part of Tokio Marine Holdings, Inc., the largest property and casualty insurance group in Japan, with operations in 38 countries.
