Japanese insurer Sompo Holdings Inc (8630.T) said on Friday it has agreed to sell British unit Sompo Canopius to private equity consortium led by Centerbridge Partners for $952 million.
Sompo, one of Japan’s three-biggest property and casualty insurers, bought Canopius, a Lloyd’s of London insurance market player, for about $1 billion in 2014.
Sompo has been reviewing its overseas business portfolio after completing the $6.3 billion purchase of U.S. property and casualty insurer Endurance Specialty Holdings Ltd earlier this year.
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