Tokio Marine's (TYO:8766) new strategic alliance with Warren Buffett's Berkshire Hathaway is expected to enhance the Japanese insurer's capacity for international acquisitions, Nikkei Asia reported on Friday, citing officials.

The discussions that led to this agreement gained momentum following Masahiro Koike's appointment as president of Tokio Marine in June of the previous year, the publication said.

Berkshire, which views insurance as a core business, sought a broad-based partnership that would involve jointly identifying and evaluating potential investment opportunities, the news agency said.

The deal, which was officially announced on March 23, represents Berkshire's first such alliance with a Japanese financial institution, the report added.

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