News - Japan: Nippon Life plans US$707 mln Allianz investment

Source: Asia Insurance Review | Aug 2011

Allianz is selling EUR500 million (US$706.8 million) of contingent convertible notes to Japan’s largest insurer by asset, Nippon Life. Contingent convertible notes (CoCos) are bonds that convert to equity once a pre-agreed measure of financial stress has been breached, boosting solvency ratio in case of a crisis.

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News - Japan: Nippon Life plans US$707 mln Allianz investment

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