S&P said it expects Tokio Marine to continue expanding internationally through acquisitions and organic growth, while also increasing the share of investment assets held outside Japan.
The deal, expected to close in the coming days, will see Japanese insurer leverage Aspen’s Lloyd’s syndicate and capital markets platform to boost its international growth strategy.
Korea led the region’s softening with a 17% composite rate drop, while Taiwan and Hong Kong SAR also posted double-digit declines, according to Marsh data.
The firm's new CEO, Hiromitsu Tokumaru, said it would overhaul its life planner model and pay structure to curb aggressive sales pressures following the fraud scandal.
