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Mitsui Sumitomo Insurance to spend $4.5bn on M&A, with eye on US

Japanese insurer aims to tap into North American specialty market

Mitsui Sumitomo Insurance's move marks a departure from the company's cautious stance on international M&A activity. 

TOKYO -- Mitsui Sumitomo Insurance plans to spend up to 500 billion yen ($4.5 billion) on mergers and acquisitions through 2023, creating an M&A fund with a focus on North America, Nikkei has learned.

Mitsui Sumitomo Insurance is keen on the North American market, which has a robust specialty insurance segment that includes liability coverage for corporate executives.

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