Tokio Marine forms strategic partnership with Berkshire
Tokio Marine is selling a 2.49% stake to Warren Buffett's Berkshire Hathaway for 287.4 billion yen. The insurer plans to use the proceeds for share buybacks.
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Tokio Marine Holdings, Inc., a leading insurance group based in Japan, has announced a new strategic partnership with the United States-based conglomerate BERKSHIRE HATHAWAY INC-CL A. The collaboration will begin with the sale of a 2.49% stake in the Japanese insurer to Warren Buffett’s firm through a third-party allotment of treasury shares.
