One blockbuster acquisition down, another one to go. After acquiring NAS Insurance in April, Tokio Marine Holdings is continuing its M&A streak, announcing today that it has reached an agreement to purchase Privilege Underwriters (PUI) from investors led by Stone Point Capital and KKR. The transaction is excepted to close in Q1 2020.
PUI does business through the PURE Group of Insurance Companies, which provides insurance solutions to the high-net-worth market in the US and has grown organically by over 20% every year for the past 12, with inforce premiums of more than $1 billion. PUI’s specialty companies include PURE Risk Management, PURE Insurance Company, managing general underwriter PURE Programs, and Haven Art Group, a fine art services and claims management company.
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