The Life Insurance Policyholders Protection Corp. of Japan said Thursday that it has decided to provide about Y27.8 billion to failed insurance firm Yamato Life Insurance Co.

Yamato's administrator said earlier this month that it has made a pact with U.S. life insurer Prudential Financial Group (PRU) to sponsor Yamato's rehabilitation and it planed to ask the safety net corporation for financial needs, some of which the Prudential deal doesn't cover.

-By Atsuko Fukase, Dow Jones Newswires; 813-5255-2957; atsuko.fukase@dowjones.com