The Berkshire Hathaway deal “opens up other options that we would not be able to do on our own”, Tokio Marine CEO Masahiro Koike said.
The Lisbon-based company could be valued at around €150m ($172.78m), according to the report.
Originally developed by Zurich North America's construction team, the product bound business within weeks of its US launch before being rolled out across five new territories.
The launch follows TFP's recent activity in PVT underwriting, including its handling of risks linked to the Middle East conflict.
