JAPAN – February 10, 2020 – Further to our announcement on October 3, 2019, Tokio Marine Holdings, Inc. (President and Group CEO: Satoru Komiya, “TMHD”) is pleased to announce that TMHD has completed the acquisition of Privilege Underwriters, Inc. and its subsidiaries (“Pure Group”), a U.S. insurance group specialized in the U.S. High Net Worth insurance market, through TMHD’s wholly owned subsidiary HCC Insurance Holdings, Inc. following the satisfaction of all conditions of the acquisition, including approval from all relevant authorities.
The financial results of Pure Group will be consolidated into the financial statements of TMHD from the first quarter of fiscal year 2020 onwards.
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About PURE Programs
PURE Programs, LLC., is a managing general underwriter offering specialized Excess & Surplus (E&S) insurance and risk management solutions for PURE members and other responsible high net worth families whose complex exposures do not qualify for coverage from an admitted insurer. PURE Programs shares much of the infrastructure behind its admitted affiliate, PURE Insurance, including world-class risk management and claims services as well as electronic billing and policy delivery, in order to provide an exceptional experience for policyholders and their brokers. Policies are underwritten by highly-rated independent partner insurers.