Japanese Insurer Tokio Marine Partners With Israel’s Harel Insurance to Scout Israeli Tech
CTech – Tokyo-listed multinational insurance holding company Tokio Marine Holdings has signed a partnership agreement with Israeli insurer Harel Insurance Investments & Financial Services, the two announced Wednesday. According to the agreement, the two companies will work together to spot Israeli technologies that can be integrated into their services and to scout for potential investments and partnerships with Israeli technology companies.
Founded in 1879, Tokio Marine is Japan’s oldest and largest property, life, and casualty insurance group. The company operates in 38 countries, employing more than 35,000 people, according to Pitchbook. Tokio Marine is currently traded at a market capitalization of $38.1 billion.
Tel Aviv-listed Harel Insurance, founded in 1935, is one of Israel’s largest insurance groups, traded at a market capitalization of NIS 5.6 billion (approximately $1.6 billion).