Japan's NKSJ Drops $961M To Acquire Insurer Canopius

Law360, New York (December 18, 2013, 1:33 PM EST) -- Japanese insurance heavyweight NKSJ Holdings will buy all the equity of Lloyd's of London market insurer Canopius Group Ltd. for 99.2 billion yen ($961 million), the most it's ever paid for an acquisition, NKSJ said Wednesday.

NKSJ said that it's looking to expand its overseas insurance holdings as a core business strategy, including establishing retail presence in developing markets and setting up specialty services in the U.S. and Europe.

Canopius' special services portfolio includes insurance for marine & energy projects, financial casualty and political crisis management....
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