Mitsui Sumitomo Insurance said it had agreed to buy British insurer Amlin for 670 pence per share in cash.

The deal with Mitsui Sumitomo Insurance, a wholly-owned subsidiary of MS&AD Insurance Group Holdings, values Amlin at about £3.46 billion .

The deal is at a premium of about 36 per cent over Amlin’s closing price of 492.5 pence on September 7th.

- Reuters