Back in July, cashed-up Tokio Marine Holdings (8766 JP) was reportedly running a ruler over Insurance Australia (IAG AU) or Suncorp (SUN AU).
Berkshire’s recent investment in Tokio Marine appears to have jumpstarted its M&A ambitions. Late August, Tokio Marine (also reportedly) identified Suncorp as its preferred takeover target
Suncorp was viewed as (potentially) a cleaner play after selling Suncorp Bank to ANZ Group Holdings (ANZ AU) in 2024. IAG is now cleaner after settling the Greensill litigation.
IAG AU: Greensill Settlement Removes Overhang. Tokio Marine Will Take Note
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