Meiji Yasuda Life Insurance has reached an agreement with the UK's Legal General Group LG to acquire 100% of LG’s US holding company, named Legal General America LGA, and its subsidiaries, which includes Banner Life and Legal General America Reinsurance.
In addition the Japanese life insurer has agreed a partnership with LG in the US pension risk transfer PRT business, and added that it tends to acquire around 5% of LG's shares.
The purchase price is $2.28 billion 352 billion, and the deal is the latest move by a Japanese insurer to expand abroad in recent months following...
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