Mitsui Sumitomo to buy Singapore insurer for â¹10,240 crore
Japan's Mitsui Sumitomo Insurance Company (MSI), the core firm of MS&AD Insurance Group Holdings, has agreed to buy Singapore's largest non-life insurer First Capital Insurance from Canada's Fairfax Financial Holdings for $1.6 billion (â¹10,240 crore). MSI said it is paying 3.3 times the book value while Fairfax said this will result in realised net investment gain of approximately $900 million.