Japan Meiji Yasuda Life Insurance Company Buys UK Asset Manager Legal & General United States Insurance Protection Business & 20% of United States Pension Risk Transfer Business at $2.3 Billion Equity Value, Intends to Buy 5% of Legal & General Group ($1.5 Trillion AUM) with Current Market Value at $17.6 Billion
13th February 2025 | Hong Kong
Japan Meiji Yasuda Life Insurance Company has announced to buy UK asset manager Legal & General United States Insurance Protection business & 20% of United States Pension Risk Transfer business at $2.3 billion equity value. Meiji Yasuda Life Insurance Company also intends to buy 5% of Legal & General Group ($1.5 trillion AUM). Legal & General Group current market value is at around $17.6 billion. L&G (7/2/25) :”Legal & General Group Plc (“L&G” or the “Group”) today announces that it has agreed the sale of its US insurance entity4, comprising its US protection and US Pension Risk Transfer (“US PRT”) businesses, to Meiji Yasuda Life Insurance Company (“Meiji Yasuda”), a Japanese mutual life insurance company, for an equity value of $2.3bn (£1.8bn) payable in cash at completion (subject to certain purchase price adjustments) (the “Transaction”). Following completion, Meiji Yasuda will own L&G’s US protection business and have a 20% economic interest in its US PRT business, with L&G retaining 80% of existing and new PRT through reinsurance arrangements between L&G and Meiji Yasuda. Under the terms of the Transaction, the equity value of $2.3bn represents a compelling multiple to estimated 2024 post-tax earnings. The Transaction is expected to complete towards the end of 2025 and is subject to customary closing conditions and regulatory approvals.”
“ Japan Meiji Yasuda Life Insurance Company Buys UK Asset Manager Legal & General United States Insurance Protection Business & 20% of United States Pension Risk Transfer Business at $2.3 Billion Equity Value, Intends to Buy 5% of Legal & General Group ($1.5 Trillion AUM) with Current Market Value at $17.6 Billion “
Meiji Yasuda Life Insurance Company – Meiji Yasuda Life Insurance Company is headquartered in Tokyo, and is the oldest and one of the major life insurance companies in Japan. It provides a variety of group and individual life insurance products, bancassurance, and group annuity products in Japan. It also has insurance operations in the US, Poland, Thailand and China.
Legal & General – Established in 1836, Legal & General is one of the UK’s leading financial services groups and a major global investor, with £1.2 trillion in total assets under management (as at HY24) of which c40% (circa £0.5 trillion) is international. We have a highly synergistic business model, which continues to drive strong returns. We are a leading international player in Institutional Retirement, in Retail Savings and Protection, and in both public and private markets through our Asset Management division. Across the Group, we are committed to responsible investing and dedicated to serving the long-term savings and
Legal & General America – Legal & General America’s individual life insurance division is part of the worldwide Legal & General Group. For over 70 years, the Legal & General America companies have been in the business of providing financial protection through life insurance for American families. The Legal & General America companies are Banner Life Insurance Company and William Penn Life Insurance Company of New York. With more than $105 billion in new coverage issued in 2023, LGA is a top three US term life insurance provider with 1.4 million U.S. customers. LGA shares Legal & General’s independent financial strength ratings: A+ Superior from A.M. Best and AA- Very Strong from Standard and Poor’s and Fitch.
Legal & General Retirement America – Legal & General Retirement America specializes in customized pension risk solutions for institutional clients in the US market. Established in 2015, Legal & General Retirement America is a business unit of Legal & General America, Urbana, MD. Legal & General America life insurance and retirement products are underwritten and issued by Banner Life Insurance Company, Urbana, MD and William Penn Life Insurance Company of New York, Valley Stream, NY. Banner products are distributed in 49 states, the District of Columbia and Puerto Rico. William Penn products are distributed exclusively in New York; Banner Life is not authorized as an insurer in and does not do business in New York. The Legal & General America companies are part of the worldwide Legal & General Group.
Japan Meiji Yasuda Life Insurance Company Buys UK Asset Manager Legal & General United States Insurance Protection Business & 20% of United States Pension Risk Transfer Business at $2.3 Billion Equity Value, Intends to Buy 5% of Legal & General Group ($1.5 Trillion AUM) with Current Market Value at $17.6 Billion
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