Japan's Meiji Yasuda Life to buy American Heritage Life for $2 billion, Nikkei reports
(Reuters) - Japan's Meiji Yasuda Life Insurance will acquire American Heritage Life Insurance, a unit of U.S. insurance company Allstate (NYSE:ALL ), for around $2 billion, the Nikkei reported on Wednesday.
The deal comes as the Japanese life insurance firm looks to expand its group policy business in the growing U.S. market, the Nikkei reported.
The deal will be done through Meiji Yasuda's U.S. unit, StanCorp Financial Group, and is expected to close by the end of June 2025 after gaining approval from U.S. and Japanese authorities, the Nikkei added.
Source: Investing.com
