Japan's Meiji Yasuda to Buy StanCorp Financial for $5 Billion
24 July 2015 - 12:50PM
Dow Jones News
TOKYO—Japan's Meiji Yasuda Life Insurance Co. said it agreed to
buy StanCorp Financial Group Inc. for $5 billion, the latest in a
series of acquisitions by Japanese firms abroad.
The purchase would be one of the largest for a Japanese
insurance company. In June, Tokio Marine Holdings Inc. agreed to
buy U.S.-based HCC Insurance Holdings Inc. for $7.5 billion.
Meiji Yasuda rival Dai-ichi Life Insurance Co. closed a deal
earlier this year to acquire U.S. insurer Protective Life Corp. for
$5.6 billion.
The board of Portland, Ore.-based StanCorp unanimously supported
the deal with Meiji Yasuda, the Japanese life insurer said in a
statement. The deal is still subject to regulatory approvals in the
U.S. and Japan.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
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