TOKYO (dpa-AFX) - Tokio Marine Holdings, Inc. (TKOMY), a Japanese insurer, Friday announced that it has agreed to acquire Agrihedge, Inc., an insurance and derivative company for agricultural and livestock products, for $970 million.
The transaction is expected to close in the fourth quarter of fiscal 2025.
Agrihedge, Inc. or CIH provides risk solutions spanning both insurance and derivatives for agricultural and livestock products to customers primarily in the U.S and is currently appointed as an insurance agent of Tokio Marine.
As per the company, Tokio Marine intends to diversify its business portfolio and capture growth opportunities with this acquisition by securing capabilities to provide non-insurance risk solutions in the U.S. agricultural sector giving them a competitive edge.
Further, Tokio Marine stated that CIH has around $130 million in revenue or fee income and about 200 employees as on September 30, 2025.
On Friday, TKOMY shares closed at 5541 JPY, up 3.57% on the Tokyo Stock Exchange.
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