Tokio Marine seeking more M&A targets in N America

Tokyo

JAPAN'S Tokio Marine Holdings Inc sees many attractive acquisition opportunities in North America, its chief executive said, even after already spending more than US$7 billion to buy insurance companies there in the last six years.

"There are still possible options in the North American market," Tsuyoshi Nagano, CEO and president of Japan's largest insurer by market capitalisation, said on Friday. "The insurance market is big and there are many specialty companies. There are still many good targets."

As well as looking for international growth prospects to offset a domestic market that will shrink as Japan's …