Nippon Life Insurance Co. and Deutsche Bank AG, the largest bank in Germany, have sealed a comprehensive tieup agreement to strengthen their ties in asset management and in the sale of investment trusts in Europe and Japan, the two companies announced Wednesday.
The latest move by Japan's largest life insurer, with its previous tieup last month with Putnam Investments of the United States, gives the life insurer an enhanced opportunity to invest its huge premium pool in financial products available in Japan, the U.S. and Europe.
Under their alliance, the two firms will set up a joint venture, tentatively named Nissay Deutsche Asset Management Europe, as early as April in London. The unit will specialize in asset management operations in Europe, officials of Nippon Life said.