Dai-ichi Life weighs shift to holding company for flexibility
TOKYO -- Dai-ichi Life Insurance may transform into a holding company by fiscal 2016 as a way to more readily tap group resources for its expanding overseas business.
A plan considered by the Japanese company would place domestic and foreign life insurance operations, as well as an asset management unit, under the umbrella of the holding company. This includes group life insurers in five countries, such as Australia and India.
Domestic group companies would also be brought into the fold, helping to better pursue marketing strategies. Dai-ichi Frontier Life Insurance, which specializes in selling policies through banks, and a new company offering discount insurance products will likely be included.
Meanwhile, the operational side of Dai-ichi Life will focus on domestic sales.
Among domestic counterparts, T&D Holdings Inc. was formed in 2004 in a move that put three life insurers under its wing as wholly owned units.