Japan-based insurance giant Tokio Marine & Nichido Fire Insurance Company Ltd. (TMNF) said they had reached agreement to acquire London-headquartered Kiln Ltd. for ?442.2 million ($893.8 million at current exchange rates).
According to the companies, the transaction will be implemented under Bermuda law, where Kiln is incorporated. They said the acquisition represents a premium of approximately 40.8 percent over Monday's closing of 106.5 pence per share price before news of sale discussions was announced.
A.M. Best greeted the announcement by putting Kiln ratings under review with positive implications.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
