CNA Financial Corp. has agreed to the sale of its 50 percent ownership interest in property/casualty insurer First Insurance Company of Hawaii Ltd., to Tokio Marine & Nichido Fire Insurance Co. Ltd., the sole other shareholder in the Hawaiian subsidiary.
"This sale is another step in streamlining our operations and focusing on our core strategies," said Tom Motamed, CNA chairman and CEO. "We believe it is an excellent transaction for both parties, and we are grateful for our many years of partnership with Tokio Marine."
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