TOKYO : Japan's Dai-ichi Life Holdings will buy Australian banking group Westpac's life insurance business for about AUS$900 million (US$665.5 million), the Nikkei reported on Friday.
Dai-ichi Life is looking to boost its overseas revenue as Japan contends with a declining population. The deal will be completed by the end of the 2022 financial year, the Nikkei reported.
A spokesperson for Dai-ichi Life declined to comment.
(US$1 = 1.3524 Australian dollars)
(Reporting by Takashi Umekawa; Editing by David Goodman)