Just last month Toko Marine Holdings publicized plans to purchase U.S. insurer Philadelphia Consolidated in an effort to expand beyond the shrinking Japanese market. The insurer also said it will make buy-backs of up to 50 billion yen ($455.8 million) of its own stock, which may shore up the company’s weakened share price.
Because of Japan’s own economic problems and the expected decline in the population, Japanese insurers have limited opportunities to expand in their home territory. Growth figures for the nation are expected later this week to show Japan's economy contracted in the second quarter and some policymakers say the country may already be in recession.