Japan’s Meiji Yasuda and HK Based AIA Keen on ANZ Insurance & Wealth Unit
ANZ’s sale of its life insurance and wealth business has attracted interest from Japan’s Meiji Yasuda and HK Based AIA. The business is valued at US$3.33 billion by the bank. Meiji Yasuda, Japan’s 3rd largest private sector insurer by assets is attracted to ANZ wealth business and life insurance arm. AIA could increase its exiting Australian business if it buys the ANZ business.
“ANZ’s sale of its life insurance and wealth business has attracted interest from Japan’s Meiji Yasuda and HK Based AIA.”
This is the second major move by an Australian to let go its insurance business. National Australia Bank recently sold its 80% stake in its life insurance arm to Japan’s Nippon Life for A$2.4 billion last month.
Related Report: Reuters
About Meiji Yasuda
Meiji Yasuda Life Insurance Company was inaugurated through the merger of the two oldest life insurers in Japan, namely, Meiji Life Insurance Company and The Yasuda Mutual Life Insurance Company.
Visit: Meiji Yasuda
AIA is the largest independent publicly listed pan-Asian life insurance group – with a presence in 18 markets across the Asia-Pacific region.
Our Vision is to be the pre-eminent life insurance provider in the Asia-Pacific region. That is our service to our customers and our shareholders.
Our Purpose is to play a leadership role in driving economic and social development across the region. That is our service to societies and their people.
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