Tokio Marine Holdings, Inc., has completed its acquisition of HCC Insurance Holdings, Inc. (“HCC”), a U.S. insurance holding company comprising property and casualty, accident and health, and other specialty insurance businesses, following the satisfaction of all conditions of the acquisition, including approval from HCC's shareholders and all relevant authorities.
HCC has now joined the Tokio Marine Group as a wholly owned subsidiary of Tokio Marine & Nichido Fire Insurance Co., Ltd. and will be delisted from the New York Stock Exchange. Total consideration for the acquisition is approximately $7.5 billion.
The financial results of HCC will be consolidated into the financial statements of TMHD from the first quarter of fiscal year 2016 onwards.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].