Dai-ichi Life to Acquire 15% Stake in M&G in $8 Billion Strategic Partnership

Japanese insurer Dai-ichi Life and British asset manager M&G have entered a strategic partnership to bolster their international market presence. This involves Dai-ichi acquiring a 15% stake in M&G, and attracting $8 billion in new business flows over five years, with $6 billion allocated to M&G's balance sheet and $2 billion to Dai-ichi Life's balance. Additionally, both firms will explore joint investments in asset management, distribute existing products, and develop new insurance solutions across Japan, Asia, and Europe. M&G will benefit from preferred partnership status in Europe, while Dai-ichi supports product distribution in Asia. Despite this equity purchase, M&G's capital structure remains unaffected, though Dai-ichi gains the right to appoint a director to M&G's board with a minimum 15% stake. This partnership aligns with both firms' ambitions to grow internationally.