(BRK.A), (BRK.B)
Berkshire Hathaway is expanding its presence in Japan’s insurance sector through a new strategic investment in Tokio Marine Holdings. Its subsidiary, National Indemnity Company, will acquire a 2.49% stake in Tokio Marine for ¥287.4 billion (about $1.8 billion) via a third-party allotment of treasury shares.
To protect existing shareholders, Tokio Marine plans to repurchase its own stock and avoid dilution. National Indemnity has also agreed to cap its ownership at 9.9% unless it receives prior approval from Tokio Marine’s board.
The deal goes beyond a simple equity investment. Both companies aim to collaborate on reinsurance and jointly pursue mergers and acquisitions, combining Berkshire’s financial strength with Tokio Marine’s extensive global underwriting network.
Founded as Japan’s oldest insurer, Tokio Marine operates in nearly 40 countries and reported total assets of ¥31.2 trillion (around $205 billion) as of March 2025, along with annual adjusted net income of approximately ¥1.07 trillion—underscoring the scale of this partnership between two major industry players.
© 2026 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.