Japanese insurer Mitsui Sumitomo to buy Amlin for 3.5 billion pounds

08 Sep, 2015 12:12 pm

TOKYO – Mitsui Sumitomo Insurance [MITSID.UL] said it had agreed to buy British insurer Amlin Plc (AML.L) for 670 pence per share in cash.

The deal with Mitsui Sumitomo Insurance, a wholly-owned subsidiary of MS&AD Insurance Group Holdings (8725.T), values Amlin at about 3.46 billion pounds ($5.31 billion).

The deal is at a premium of about 36 percent over Amlin’s closing price of 492.5 pence on Sept. 7. -Reuters

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