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Tokio Marine Buys Philadelphia Consolidated For $4.7 Billion

Japanese insurer Tokio Marine Holdings Inc. (TMHD) said today it will acquire Philadelphia Consolidated for $4.7 billion, and analysts saw the transaction as a good deal for the Bala Cynwyd, Pa.-based

By Daniel Hays | Updated on July 23, 2008

Japanese insurer Tokio Marine Holdings Inc. (TMHD) said today it will acquire Philadelphia Consolidated for $4.7 billion, and analysts saw the transaction as a good deal for the Bala Cynwyd, Pa.-based property-casualty insurer.

Analysts said the price should make Philadelphia Consolidated stockholders happy and the acquisition will provide opportunity for TMHD to expand its presence in Europe and the United States.

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