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Business deals

Insurer Tokio Marine to purchase US peer Pure Group for $3.1bn

Increase in natural disasters prompts Japanese company to diversify overseas portfolio

Tokio Marine has spent nearly 2 trillion yen on acquisition deals with American companies since 2008.

TOKYO -- Japanese insurance provider Tokio Marine Holdings will acquire U.S. counterpart Pure Group for $3.1 billion, the company said Thursday, in a bid to maintain profit growth against mounting climate disaster payouts.

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