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Market Chatter: Tokio Marine Eyes M&A in Australia, Canada to Diversify Overseas Earnings

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Tokio Marine (TYO:8766) plans to diversify geographically through mergers and acquisitions in Australia, Canada and other markets, leveraging its partnership with Berkshire Hathaway, Nikkei Asia reported on Wednesday, citing President Masahiro Koike in a recent interview.

The Japanese insurer has set a target to double adjusted net profit to 1.7 trillion yen by March 2036, and raise adjusted return on equity by 4.1 percentage points to 17%, the report said.

Tokio Marine also aims to rank among the world's five most profitable insurers. Koike acknowledged, however, that the company remains behind European peers Allianz and AXA, according to the report.

About 90% of Tokio Marine's overseas earnings currently come from North America, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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