Japanese firm was the dark horse in race to buy CBA’s stake in a Chinese life insurer. While it celebrates its surprise win, it will do well to remember clinching the deal is just the opening skirmish in a battle to crack the market.
The Japanese insurer thinks it has spotted a way of benefiting from the sector’s travails as some of its peers sell portfolios in the face of Solvency II and low interest rates.
The Japanese were prepared to pay up for a heady mix of Asean exposure, commercial insurance and control of a profitable company. A refreshing change from past deals in Asia.
Ian Brimecome, the most senior foreigner in the Japanese insurance industry, calls time on peers’ reckless foreign forays.
A restrictive floor price and the lack of a track record in its life insurance joint venture force the financial arm of Indonesia's Sinar Mas group to cancel its planned equity capital raising.
Japan''s third largest insurance company acquires a major stake in Ayudhya Insurance of Thailand.