Japan’s biggest non-life insurer, Tokio Marine & Nichido Fire Insurance Co., is reported to be in talks with ABN AMRO NV to acquire its Brazilian insurance unit, Real Seguros SA, which was put up for sale last year, according to Reuters.
Tokio Marine has won an exclusive negotiating right to purchase Brazil’s insurer that provides life and non-life insurance policies, the news agency reports. The acquisition, which is expected to cost the firm several tens of billions of yen, is expected to be settled as early as May. Tokio Marine is not the only interested party, according to Reuters. Spanish insurer Corporacion Mapfre has also been looking to acquire Real Seguros.