Tokio Marine Holdings, Inc. has announced a definitive agreement to acquire Commodity & Ingredient Hedging (CIH), a major provider of technology-driven risk management services for the agricultural and commodity sectors. The deal, which is subject to standard regulatory approvals, is expected to be completed in the first quarter of 2026. CIH is currently owned by Falfurrias Capital Partners.
Based in Chicago, CIH supports agricultural producers, grain traders and a broad range of commodity-focused businesses in managing exposure to price volatility. The firm’s offering integrates advisory services, brokerage and insurance solutions, supported by its proprietary technology platform. Its model combines regular, education-centred advisory sessions with real-time execution options across both derivatives and insurance markets, enabling clients to analyse and manage their risk positions through a unified system. This blend of expertise, technology and focus on client learning has established CIH as a trusted partner for organisations throughout the agricultural supply chain.
Tokio Marine said the acquisition will add a complementary business to its portfolio, strengthening its presence in the U.S. agricultural sector while advancing its ambitions to expand non-insurance risk services. The company expects the move to enhance the capabilities of Tokio Marine HCC’s agricultural division, create additional revenue diversification and improve the overall suite of services available to customers working in the agricultural economy.
“We’re excited to welcome CIH,” said Susan Rivera, CEO of TMHCC. “The team has built an impressive business that combines deep agricultural expertise with innovative technology to help clients manage price volatility. This partnership expands our ability to deliver comprehensive risk solutions beyond traditional insurance and supports Tokio Marine Group’s long-term strategy to grow through diversified, fee-based services.”
Pat Gregory, CEO of CIH, said the company’s partnership with Falfurrias Capital Partners had strengthened its technology and service model, preparing it for its next phase. “Through our partnership with Falfurrias Capital Partners, we’ve worked together to strengthen our technology, expand our service model, and position CIH for continued growth,” he said. “Joining Tokio Marine will allow us to extend our reach, broaden our capabilities, and deepen the support we provide to clients navigating complex commodity markets.”
“Pat and the CIH team have built an exceptional business at the intersection of technology, risk management, and agriculture,” said Wilson Sullivan, Partner at Falfurrias. “We’re proud to have supported CIH’s growth and innovation and are confident that Tokio Marine is the ideal partner to advance the company’s next chapter.”
William Blair acted as financial advisor and K&L Gates LLP served as legal counsel to Falfurrias and CIH. Evercore advised Tokio Marine, with Kirkland & Ellis LLP serving as its legal counsel.
