Mitsui Sumitomo to buy US reinsurance broker for $400m: report

The Japanese property insurer aims to expand its reach into the reinsurance business.

Mitsui Sumitomo Insurance Company is planning to acquire US reinsurance broker Transverse Insurance Group for $400m, a report by Nikkei Asia said.

ALSO READ: General takaful drives Malaysia’s non-life insurance growth

According to the report, the Japanese insurer has plans to turn Tranverse Insurance into a wholly-owned subsidiary as early as this year by buying up its shares from investment funds and several others.

The official announcement of the purchase may soon be announced before the end of August. Meanwhile, the report predicts that Mitsui Sumitomo may have to shell out an additional $150, depending on the company’s earnings after the deal.

Follow the link for more news on

Mitsui Sumitomo Insurance

Also Read

Philippine life insurance sector slated for 5.4% CAGR by 2028

Property insurance industry to exceed $152b by 2028

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit