Japan-headquartered Tokio Marine Holdings will form a home insurance joint venture in Brazil with Caixa Seguridade, the insurance arm of Caixa, one of Brazil’s largest banks.
According to a report by the Japanese P&C insurance giant is investing ¥39.5 billion (US$370 million) in the joint venture, as it seeks to tap the emerging market, amid rising disaster payouts in its home country.
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