Tokio Marine HCC has acquired in Encino, Calif.-based NAS Insurance Services LLC.
Terms of the deal were not disclosed.
The acquisition of NAS represents the continuance of a partnership between NAS and the Tokio Marine Group. Tokio Marine HCC and its sister company, Tokio Marine Kiln, have worked with NAS since 1975, and Tokio Marine Kiln had owned 49 percent of NAS since 2014.
Tokio Marine HCC will combine NAS with its existing professional lines group. Richard Robin, who serves as CEO of NAS, will become president of Tokio Marine HCC’s professional lines group. He reports to Thomas Harmeyer, who will continue to serve the professional lines group as executive chairman.
NAS is a Lloyd’s coverholder. The business produced reported gross written premium of $176 million in 2018. NAS employs roughly 180 people and has offices in California, New York, Chicago and Atlanta.
Tokio Marine HCC is the marketing name used to describe the affiliated companies under the common ownership of HCC Insurance Holdings, Inc., a Delaware-incorporated insurance holding company.
Was this article valuable?
Here are more articles you may enjoy.
Investment Funds File New Suits Over Lighthouse Insurance Collapse in 2022 
USAA to Lay Off 220 Employees 
Dubai Floods Expose Weaknesses to a Rapidly Changing Climate 
Wildfires Are Upending Some of the Safest Bets on Wall Street 
