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| Name | Symbol | Market | Type |
|---|---|---|---|
| Tokio Marine Holdings Inc (PK) | USOTC:TKOMY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.25 | -0.64% | 39.12 | 38.82 | 39.53 | 39.51 | 39.07 | 39.51 | 43,582 | 21:04:04 |
From Jul 2019 to Jul 2024
Spanish banking giant Banco Santander SA (STD) announced Monday it acquired control of local pension and insurance company Real Tokio Marine Vida e Previdencia for 678 million Brazilian reals ($284.9 million).
According to a Santander press release, the bank bought a 50% stake in the firm from Japanese insurer Tokio Marine (TKOMY).
"This acquisition reinforces Santander's goal of growing in Brazil," said Fabio Barbosa, Santander's chief executive in Brazil.
With the purchase, Santander assumes management of BRL6.4 billion in private pension funds and BRL247 million in annual insurance premiums.
The purchase is still subject to approval from the local private insurance market watchdog Susep.
With the deal, Santander becomes Brazil's tenth largest insurance broker with BRL1.3 billion in annual premiums.
In the area of private pensions, Santander will rise to the fourth spot with BRL11.2 billion in managed funds.
-By Alastair Stewart, Dow Jones Newswires; 5511 2847-4520; alastair.stewart@dowjones.com
1 Year Tokio Marine (PK) Chart |
1 Month Tokio Marine (PK) Chart |
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