Berkshire Hathaway buys $1.8B stake in Japan’s Tokio Marine, launching a five-year strategic alliance.

Berkshire Hathaway has agreed to buy a 2.49% stake in Japan’s Tokio Marine Holdings, worth $1.8 billion, through its subsidiary National Indemnity, as part of a decade-long strategic partnership. The deal includes reinsurance collaboration and joint global investment efforts, with both companies barred from similar deals with competitors for five years. Berkshire will purchase treasury shares, triggering an equivalent repurchase by Tokio Marine to prevent shareholder dilution. Future stake increases are capped at 9.9% without board approval. The move reflects Berkshire’s growing focus on Japan’s insurance sector and its broader international expansion under CEO Greg Abel, following Warren Buffett’s retirement.