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Business deals

Dai-ichi Life Insurance to acquire Australia's Suncorp for 50 billion yen

Growing market draws further Japanese investment

A logo of Dai-ichi Life. Japanese insurers have expanded their presence in Australia in recent years.
Nikkei staff writers | Australia, New Zealand, Pacific Islands

TOKYO -- Japan's Dai-ichi Life Insurance today announced it would acquire the life insurance division of Australian finance group Suncorp for 640 million Australian dollars ($480 million) through a local subsidiary.

Having agreed on the outline, the companies aim to finalize the deal by the end of August.

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