TOKYO (AP) - Shares of Japanese insurer Millea Holdings rose in Tokyo trading yesterday after it said last week it will buy British insurer Kiln Ltd.

Millea closed at 3,630 yen ($32; euro22 euros), up 1.1 percent from Friday's close after gaining more than four percent earlier in the session.

On Friday, Millea said it will purchase Kiln Ltd., acquiring all outstanding shares in an all-cash takeover worth £442 million ($884 million; 609 million euros).

The deal, the largest-ever acquisition of a foreign company by a Japanese insurer, is aimed at boosting overseas profits and strengthening its global insurance business, the company said.

Millea has been entering new markets in Brazil, India, China and other Asian countries by mergers and other strategies. It has also been expanding business in Bermuda, Great Britain and the US.

The rise in Millea's shares bucked the overall trend on the Tokyo Stock Exchange, where the Nikkei 225 stock index fell 1.7 percent.