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Tokio Marine HCC unit to acquire UK-based Qdos Contractor

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Tokio Marine HCC unit to acquire UK-based Qdos Contractor

Tokio Marine HCC subsidiary HCC International Insurance Co. PLC has entered into an agreement with Qdos Holdings Ltd. and other selling shareholders to acquire Qdos Contractor of The Qdos Group.

Qdos Contractor is the only business included in the deal out of the eight companies that make up The Qdos Group. The remaining businesses will continue to operate independently through their current owners.

The transaction is expected to close in the fourth quarter and is subject to regulatory approvals in the U.K. and Japan.

Qdos Contractor provides insurance products and services to the U.K. independent contractor and freelancer market via an online digital delivery platform.

Tokio Marine HCC is the marketing name used to describe the affiliated companies under the common ownership of HCC Insurance Holdings Inc.