TOKIO MARINE MARKS FURTHER OVERSEAS EXPANSION

Tokio Marine Holdings’ Malaysian operations are to buy the non-life insurance business of PanGlobal Insurance Bhd in a Yen500m transaction. The move, which follows a series of other overseas acquisitions by Japan's largest non-life insurer, is designed to strengthen its business in the growing Malaysian insurance market. It hopes to complete the deal by the end of this year. Last month, Tokio Marine unveiled plans to buy US-based Philadelphia Consolidated Holding for Yen498.7bn. And earlier in the year it bought Lloyd’s insurer Kiln.