Tokyo Marine Insurance, backed by Berkshire Hathaway, plans to initiate the largest acquisition in history, with Suncorp as a priority target

(1) Tokyo Marine Insurance, which has received investment from Berkshire Hathaway, is set to advance the largest acquisition in its history, with the transaction amount reaching several billion US dollars. This move is a key part of CEO Masahiro Koike's strategy to diversify the business. (2) Over the past few months, Tokyo Marine Insurance has conducted due diligence on several potential targets, including Australia's two major property and casualty insurers, Insurance Australia Group (IAG) and Suncorp, as well as Canada's Intact Financial Corporation. (3) In terms of market capitalization, both IAG and Suncorp exceed 14 billion US dollars (about 20 billion Australian dollars), while Intact Financial's market value reaches 36 billion US dollars (about 50 billion Canadian dollars). According to sources, Suncorp has become the preferred acquisition target, while Intact Financial has been excluded due to its large size. Negotiations are ongoing, and the final transaction outcome is still uncertain.