Meiji Yasuda to Acquire U.S. Peer Banner Life
Tokyo, Feb. 7 (Jiji Press)--Japan's Meiji Yasuda Life Insurance Co. said Friday that it will acquire Banner Life Insurance Co. for about 352.2 billion yen while investing about 130 billion yen for a 5 pct equity stake in the U.S. firm's parent, Britain's Legal & General Group PLC.
The acquisition, slated to be completed by March 2026, is expected to boost Meiji Yasuda's insurance premium income by around 500 billion yen and raise its overseas insurance business ratio from 15 pct to 26 pct.
(2025/02/08-00:01)
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