Marubeni buys 22pct stake in ACR Capital Holdings

24-Apr-2012 Intellasia | Channelnewsasia | 7:05 AM Print This Post

Marubeni Corporation is buying a 22 per cent stake in Singapore-based ACR Capital Holdings (ACR).

The planned acquisition will enable the Japanese trading house to strengthen its presence in Asia’s growing reinsurance market.

ACR Capital Holdings’ wholly-owned subsidiary, Asia Capital Reinsurance Group, provides reinsurance solutions for large and specialist risks in the pan-Asian region.

In a statement, Hikaru Minami, executive officer and chief operating officer of the Finance, Logistics & IT Business Division of Marubeni, said: “This investment enhances the capabilities of our existing reinsurance-related businesses operating in Tokyo, Singapore and London. We are thrilled that this partnership would bring about greater underwriting opportunities.”

This partnership is also expected to benefit ACR, given Marubeni’s growth plans and diverse range of business interests, including construction and operational projects.

Headquartered in Singapore, ACR has offices in Hong Kong, India, Japan, South Korea, Taiwan and Vietnam as well as a presence in Malaysia and United Arab Emirates.

Marubeni will be joining 3i, Khazanah Nasional Berhad and Temasek as a major shareholder of ACR.

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1196518/1/.html

 


Category: Finance

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