News Life and Health15 Mar 2018

Japan:Nippon Life in investment spree to maintain lead

15 Mar 2018

Japanese insurance giant Nippon Life Insurance has been on an JPY800 billion (US$7.49 billion) buying spree in a bid to reinforce its status as the leader of Japan's insurance industry.

The company plans to buy into DWS, Deutsche Bank's asset management division. Nippon Life's stake will be less than 10%, but the investment is estimated at tens of billions of yen, reports The Nikkei Asian Review.

The news followed an announcement that the insurer would acquire the Japan unit of US company MassMutual Life Insurance.

"This is not the end of our strategy," said Yuji Mikasa, the company's managing executive officer.

These are the latest in a series of investments and acquisitions made since Mr Yoshinobu Tsutsui became company President in 2011, including that of rival Mitsui Life Insurance.

Industry experts are now speculating that Nippon Life may even try to buy MetLife Insurance, the Japanese unit of US insurer MetLife.

In addition to over-the-counter sales, asset management has been one of the key areas Nippon Life has focused on when considering acquisitions. 

While weighing up an investment in DWS, the company also bought a stake in US asset manager TCW.


| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.


Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.

Other News

Follow Asia Insurance Review