Berkshire Hathaway will invest ?287.4 billion ($1.8 billion) in insurer Tokio Marine Holdings, ramping up the U.S. conglomerate¡¯s exposure to the Japanese market.
National Indemnity Company, a subsidiary of Berkshire, will make a 2.49% strategic investment in Tokio Marine, according to a statement Monday. The two companies will collaborate on reinsurance and global investments including mergers and acquisitions.
The move underscores Berkshire¡¯s growing ambitions in Japan, where around six years ago ¡ª under the leadership of Warren Buffett ¡ª it revealed it had invested in the country¡¯s largest trading houses. Buffett said in an annual letter to shareholders that the firm was looking to raise ownership in Japan¡¯s five largest trading houses ¡°over time.¡±
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