Japanese insurer Dai-ichi Life Co is in advanced talks to buy Protective Life Corp of the United States in a deal that could be worth over $5 billion, a source with direct knowledge of the matter said on Monday. The deal would be the biggest so far in a string of overseas acquisitions by Japanese insurers, led by Dai-ichi Life, seeking out higher-growth markets to offset weak long-term prospects at home as the country's population ages rapidly. Dai-ichi Life, Japan's second-largest private-sector life insurer, plans to buy 100 percent of Protective Life, said the source, who was not authorised to discuss the matter publicly. The source said Dai-ichi Life, worth close to $15 billion by market value, is planning to fund half of the acquisition cost from existing reserves if the deal goes through.
via Business News - Yahoo Finance http://ift.tt/1oM3MLB
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