Japan’s Insurers Surge on Buybacks, Unwind of Cross-Holdings

-- Shares of Japanese insurers MS&AD Insurance Group Holdings Inc. and Tokio Marine Holdings Inc. surged after the companies announced stock buybacks, as well as plans to sell their holdings in client companies.One of the Last Big Bears on Wall Street Turns Bullish on US Stocks

Robust premium growth and strong investment are among key positives for MS&AD, while its additional buyback plan was ahead of consensus and underscores management’s commitment to boosting capital efficiency, Jefferies analysts including Sam Wong write in a note Tokio Marine’s upsized buyback and dividend can continue over the next few years on solid profit growth and capital position, Bloomberg Intelligence analyst Steven Lam writes in a note

-- Nintendo Co. has acquired Miami-based Shiver Entertainment to help bring more games from outside developers to its next-generation Switch platform.

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