Agreements reached under this partnership
Capital and Business Alliance- 1
Strategic investment in Tokio Marine Holdings
- 2
Collaboration in the reinsurance business
- 3
Strategic alliance in M&A and related areas
These are items that the documents state the two companies will work on. The lines above and below represent arrangements between the two companies.
This indicates whether the companies will do more than work together, such as holding each other’s shares or seconding personnel (capital and business alliance).
Although the impact on results for the fiscal year ending March 2026 is expected to be minor, the partnership is expected to lead to further enhancement of corporate value and an increase in shareholder value.
| Item | Details |
|---|---|
| Name of alliance partner | National Indemnity Company |
| Alliance partner's business activities | Insurance Business |
| Alliance partner's location | Omaha, Nebraska, U.S. |
| Alliance partner's capital | US$5,500,000 |
| Alliance partner's net sales | US$97,761 million (fiscal year ended December 2025, consolidated revenue) |
| Type of alliance | Capital and Business Alliance |
| Details of the alliance | Strategic investment in Tokio Marine Holdings, Collaboration in the reinsurance business, Strategic alliance in M&A and related areas |
| Number of shares acquired | 48,207,200 shares (2.49% of the total number of shares issued as of 31 December 2025) |
| Acquisition price | ¥287,411,326,400 |
| Shareholding ratio | 0% (not listed among the major shareholders before the offering) → 2.49％ |
| Shareholding Policy | The shares will be held for the long term. During the effective period of the Voting Agreement, National Indemnity Company will, in principle, refrain from transferring or otherwise disposing of the shares without Tokio Marine Holdings' prior written consent. |
| Date of board resolution | 23 March 2026 |
| Contract Date | 23 March 2026 |
| Alliance start date | 23 March 2026 |
| Share Acquisition Date and Payment Date | 8 April 2026 to 14 April 2026 (scheduled) |
| Impact on Business Performance | Although the impact on results for the fiscal year ending March 2026 is expected to be minor, the partnership is expected to lead to further enhancement of corporate value and an increase in shareholder value. |
| Change in major shareholders | National Indemnity Company was not listed among the major shareholders before the offering → National Indemnity Company 2.49％ |
Items this document does not state (6)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To combine National Indemnity Company's financial strength and reinsurance underwriting expertise with Tokio Marine Holdings' global insurance platform, underwriting capabilities and M&A execution capabilities, thereby enhancing value delivered to customers, the reinsurance platform, earnings stability, growth opportunities and corporate value.