Japan's Dai-ichi Life outbids competitor on Benefit One acquisition

Life insurer to pay $2bn to Pasona Group for employee benefits provider

20240208N Dai-ichi

Dai-ichi Life Holdings aims to expand non-insurance operations with the acquisition of Benefit One. (Source photos by Nikkei)

SATOSHI TEZUKA, Nikkei staff writer

TOKYO -- Dai-ichi Life Holdings has reached an agreement to acquire Japanese employee benefits provider Benefit One from parent Pasona Group, the Japanese life insurer announced Thursday.

Dai-ichi Life will launch a tender offer on Friday after winning a bidding battle with medical information website operator M3. Dai-ichi Life aims to use the acquisition to expand non-insurance operations.

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