The U.K. ‘s Prudential announced plans to purchase Japan’s Orico Life, a subsidiary of Orient Corp., for 23 billion yen (around $200 million).
The move will further strengthen the company’s Asian presence, and will give it an entry into Japan’s lucrative, but highly competitive, life insurance market.
Orico, a small company with 216 employees spread over 10 branches, has nonetheless been a profitable Orient subsidiary with $22 million in pretax profits and $90 million in assets.
Topics Mergers & Acquisitions Carriers
Was this article valuable?
Here are more articles you may enjoy.
Captives to Remain Viable as Market Softens: RIMS Panel 
Capital One to Pay $425 Million to Settle Claims Over Savings Accounts 
Brett Favre’s Defamation Suit Against State Auditor Can Move Forward, Court Says 
Despite Backlash From Trump, DEI Hasn’t Disappeared at US Companies 
