Tokio Marine to acquire US employee benefits firm Standard Security

Tokio Marine Holdings is reportedly acquiring a US-based insurer operating in the employee benefits space, in a deal that could be worth US$184 million. The Japanese insurance giant is set to acquire Standard Security Life Insurance Co. of New York after the parties have reached a basic agreement on the deal, according to a report by Nikkei. This will give Tokio Marine access to the American SME employee benefits market.