Sompo Japan Insurance Inc. will acquire midsize British insurance company Canopius Group for about ¥100 billion, it was learned Sunday.
The nonlife insurer, a subsidiary of NKSJ Holdings Inc., aims to expand its overseas operations because of limited growth prospects in the Japanese market, with the falling population and decreasing vehicle ownership among young people, informed sources said.Sompo Japan plans to purchase all shares in Canopius Group next year, the sources added.
Source: NewsOnJapan
Source: NewsOnJapan
