Mitsui acquires majority stake in Lloyd's broker

Japan-based trading and investment firm Mitsui & Co. Ltd. has expanded its stake in Lloyd's insurance and reinsurance broker Pana Harrison (Asia) Pte. Ltd. to 51%, Asia Insurance Review reported. With this, Singapore-based Pana Harrison will now become a subsidiary of Mitsui. The transaction will enable Mitsui to expand its insurance and reinsurance operations globally.