Tokyo – Meiji Yasuda Life Insurance, a leading Japanese insurer, is set to invest approximately 500 billion yen ($3.3 billion) in its expansion into the U.S. retail insurance market. The company has announced plans to acquire a 5% stake in the British financial services firm Legal & General and purchase its U.S. subsidiary, Banner Life Insurance.
The move marks a significant shift for Meiji Yasuda, which has traditionally focused on the Japanese insurance market. With Japan’s population on the decline, leading to a shrinking domestic insurance market, the company is now aiming to tap into the growth potential of the U.S. sector.
By diversifying beyond its existing group insurance business, Meiji Yasuda seeks to secure its future by capitalizing on the steady demand for insurance in the United States.
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