Skip to main content

Advertisement

Advertisement

Business

Japan's Dai-ichi Life to buy Westpac's life business for about AUS$900 million -Nikkei

Japan's Dai-ichi Life to buy Westpac's life business for about AUS$900 million -Nikkei

FILE PHOTO: An office building with Westpac logo is seen amidst the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020. REUTERS/Loren Elliott/File Photo

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)

Source: Reuters

Advertisement

Also worth reading

Advertisement