Japan Post to take 7% stake in U.S. insurer Aflac for closer tie-up
Japan Post Holdings Co. will acquire a 7 percent stake in U.S. insurer Aflac Inc. in 2019, after gaining regulatory approval, and make it an affiliate four years after the purchase to expand their cooperation, both firms said Wednesday. Following the stake purchase — worth ...
SoftBank leads $120 million funding in financial technology startup Lemonade
SoftBank Group Corp. is betting that technology can overhaul the home insurance industry by leading a $120 million (about ¥13.6 billion) round in Lemonade Inc. The New York-based startup, which uses artificial intelligence and bots to minimize paperwork and speed up the claims process for ...
More Japanese firms introducing anti-smoking measures, including incentives
An increasing number of companies are stepping up efforts to protect employees from the health hazard of cigarettes as the central and local governments study measures to curb the public's exposure to secondhand smoke. Convenience store chain Lawson Inc. introduced an all-day ban on smoking ...
Wary drivers and savvy insurers fuel growing demand for dashcams in Japan
The ubiquitous appearances of dashcam crash footage in news reports and on TV shows has apparently spurred demand for in-vehicle video cameras in Japan as motorists seek additional legal protection in case of accidents. The surge in demand has seen at least one major auto ...
Sompo Holdings Inc. agreed to buy Bermuda-based insurer Endurance Specialty Holdings Ltd. for about $6.3 billion (¥637.5 billion), in the company's biggest acquisition as it expands further outside Japan. The Japanese insurer will pay $93 a share in cash, or 43 percent more than Monday's ...
Opaque Chinese insurers trail Japanese rivals in hunt for U.S. deals
The growth ambitions of China's insurers could be hindered by some of the companies' opaque structures when they pursue acquisitions in international markets, a banker at Citigroup Inc. said. "It is not that straightforward with Chinese companies," Gautam Chawla, co-head of the global insurance group ...
MetLife Inc. said its Japanese business will offer early retirement packages to some staff as the insurer consolidates operations in Tokyo to help counter pressure from low bond yields. Nonsales employees who are 45 or older and have been with the insurer for at least ...
Japanese investors binge on debt abroad amid negative yields at home
Japanese investors are scooping up bonds overseas to flee negative yields at home, driving a global debt-market rally. Money managers purchased a net ¥4.45 trillion of debt abroad from Feb. 12 to March 4, the biggest three-week outflow since the third quarter of 2010, based ...
Nonlife insurer Sompo Japan to acquire nursing home operator Message
Nonlife insurer Sompo Japan Nipponkoa Holdings Inc. plans to acquire nursing home operator Message Co., company officials said Friday, as part of efforts to diversify its sources of revenue in a market being squeezed by population decline. Sompo Japan plans to boost its stake in ...
Nippon Life seeks to seal deal this month to buy Aussie bank's insurance business
Nippon Life Insurance Co. aims to strike a deal this month to buy National Australia Bank's insurance business by next March, sources close to the matter said. The major Japanese life insurer, which last month agreed to buy smaller rival Mitsui Life Insurance Co. by ...
Tokio Marine Holdings Inc., fresh from its biggest acquisition in the U.S., is now looking for opportunities in China. The insurer plans to utilize its ties with Citic Group Corp., China's biggest conglomerate, to expand in the country, Tsuyoshi Nagano, Tokio Marine's president and chief ...
