Dai-Ichi Life Holdings (Dai-ichi Life) is set to take a 15% stake in M&G, with the pair having announced a “new long-term strategic partnership” across asset management and life insurance.
The strategic partnership is intended to deliver "substantial" new business flows for both M&G and Dai-Ichi Life, it was stated this morning (30 May). The pair will focus on growth, distribution and product development opportunities, according to an M&G press release. The deal is expected to open up "new potential sources" of business flows in Japan and across Asia for M&G. It is also set to "accelerate" M&G's European private markets expansion, according to the business. The move is expected to generate $6bn (£4.45bn) in new business flows into funds managed by M&G over the next five...
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