Berkshire Hathaway Buys 2.5% Stake in Tokio Marine for $1.8B

Berkshire Hathaway announced on March 23, 2026, that its subsidiary National Indemnity Company plans to invest approximately $1.8 billion to acquire a 2.5 percent stake in Tokio Marine Holdings, Japan's largest nonlife insurer, marking a significant expansion of the U.S. conglomerate's presence in the Japanese market.

The transaction involves the purchase of about 48.2 million treasury shares directly from Tokio Marine, valued at 287.4 billion yen at current exchange rates. Following this initial allotment, any further share acquisitions by National Indemnity would primarily occur through open-market purchases. As part of the deal, Berkshire and Tokio Marine will form a strategic partnership focused on reinsurance and global investment opportunities. National Indemnity will join Tokio Marine's reinsurance panel and assume a portion of its risk portfolio through a quota-share arrangement, aiming to stabilize earnings against fluctuations from natural disasters and other claims. The companies also plan to collaborate on mergers and acquisitions, leveraging Tokio Marine's expertise and Berkshire's financial resources, though no specific targets have been named.