Japan's Dai-Ichi Life to buy Suncorp Life for $460 mln
TOKYO, Sept 4 (Reuters) - Dai-ichi Life Holdings Inc
said on Tuesday it would buy Suncorp Life, an
Australian life insurance unit of Suncorp Group Ltd,
for A$640 million ($460 million), in the latest overseas
expansion for a Japanese insurer grappling with a shrinking
Dai-Ichi Life said in a statement it expected to close the
deal between December and February 2019. The impact of the
acquisition was being examined, it said.
A 20-year strategic alliance is also being finalised with
Suncorp to sell life insurance products through Suncorp Group's
distribution network, Dai-Ichi Life said.
($1 = 1.3872 Australian dollars)
(Reporting by Chang-Ran Kim; Editing by Stephen Coates)
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