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Business deals

Japan's Sompo Holdings to acquire US surety insurers

Japanese nonlife major sees opportunities amid US infrastructure boom

Sompo Holdings, a holding company of Japanese insurer Sompo Japan Nipponkoa Insurance, will acquire nonlife insurers of Lexon Surety Group.   © Reuters

TOKYO -- Sompo Holdings, a holding company of Japanese insurer Sompo Japan Nipponkoa Insurance, will acquire nonlife insurers of Lexon Surety Group, with the aim of attracting strong infrastructure demand in the U.S. The acquisition amount is estimated at 20-30 billion yen ($177-266 million).

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