Intact Insurance Group buying Tokio Marine Highland's US construction division

Tokio Marine Kiln Group Ltd. is selling Tokio Marine Highland Insurance Services Inc.'s U.S. construction division, Highland Insurance Solutions, to Intact Insurance Group USA LLC.

The transaction is expected to close in the second half of 2022, subject to regulatory approval and the satisfaction of other closing conditions.

Naperville, Ill.-based Highland Insurance Solutions provides primary and excess builders risk insurance in the U.S. The company will operate as a stand-alone managing general agency.

Waller Helms Advisors acted as financial adviser and Morgan Lewis & Bockius LLP was legal counsel to Tokio Marine Kiln and Tokio Marine Highland on the transaction.

Intact Insurance Specialty Solutions is the marketing brand for the insurance company subsidiaries of Intact Insurance Group USA LLC, a subsidiary of Intact Financial Corp.