Meiji Yasuda completed the acquisition of the US term life business from Legal & General for $2.3bn.

Meiji Yasuda, a Japanese life insurance company, completed the acquisition of the US term life business from Legal & General, a UK financial services provider, for $2.3bn. “This exciting long-term partnership with Meiji Yasuda delivers significant financial and strategic benefits for L&G today and opportunities for the future. It strengthens our balance sheet, releases capital and enables us to accelerate growth in US Pension Risk Transfer through a partnership with a highly regarded, long term investor. Crucially, it supports enhanced returns for shareholders, with a share buyback in 2026 of £1.2bn, while allowing us to reinvest in priority growth areas to drive sustainable long-term value, and I am delighted that Meiji Yasuda will now acquire a 5% economic interest in L&G, further deepening our partnership," António Simões, L&G Group Chief Executive Officer.