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Business deals

Japan's Dai-ichi Life to acquire NZ insurer for $630m

With its growing population, New Zealand will be insurer's 9th overseas market

Dai-ichi Life will acquire Partners Group through its wholly owned subsidiary Dai-ichi Life Insurance International Holdings, which controls the group's overseas business. (Photo by Yo Inoue) 

TOKYO -- Japanese insurance group Dai-ichi Life Holdings announced Friday it will acquire all shares in New Zealand's Partners Group Holdings for NZ$980 million ($630 million), with the deal expected to be completed by next spring, pending regulatory approval.

New Zealand has been active in accepting immigrants and is considered a market that, in terms of insurance demand, is expected to continue to grow at a stable rate.

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