AFLAC, Dai-Ichi Alliance Announced

September 7, 2000

The famous AFLAC duck may soon be flying higher in the Japanese insurance market, as the company announced an impending alliance with Dai-Ichi Mutual, the country’s second largest life insurer.

The famous AFLAC duck may soon be flying higher in the Japanese insurance market, as the company announced an impending alliance with Dai-Ichi Mutual, the country’s second largest life insurer.

AFLAC has been in Japan since 1974, and has developed a strong presence in the health insurance sector, notably in cancer insurance with nearly 90 percent of the market. Plans are to distribute AFLAC’s products through Dai-Ichi’s 50,000 strong sales force, and for AFLAC to offer Dai-Ichi’s life products.

The two companies also plan to jointly develop medical and nursing care products, and, according to newspaper reports, were holding discussions with Japanese p/c insurer Yasuda Fire & Marine, which has already formed a cooperation agreement with Dai-Ichi, to join the alliance.

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