Tokio Marine Holdings To Acquire HCC Insurance In $7.5 Bln Deal - Quick Facts

(RTTNews) - Tokio Marine Holdings, Inc. or TMHD and HCC Insurance Holdings, Inc. (HCC) announced that they have entered into a definitive agreement under which TMHD will acquire all outstanding shares of HCC for $78.00 in cash per share, through TMHD's wholly owned subsidiary, Tokio Marine & Nichido Fire Insurance Co., Ltd., or TMNF.

The acquisition price of $78.00 per share represents a 35.8% premium to HCC's average share price over the past one month and a 37.6% premium to the share price as of close of business on June 9, 2015. The total transaction value is about $7.5 billion, and the transaction is expected to close in the fourth quarter of 2015.

The acquisition of HCC significantly enhances Tokio Marine's operations in the United States, the largest insurance market in the world, and internationally. With strong business platforms in Japan and in international markets, the transaction solidifies Tokio Marine's standing as a truly global insurer with premier specialty franchises.

The transaction further expands Tokio Marine's product offerings and capabilities with market leading positions in new lines of business including Accident & Health, Directors' & Officers' liability, agriculture and other specialty lines globally.