Meiji Yasuda to acquire the US term life business from Legal & General for $2.3bn.

Meiji Yasuda, a Japanese life insurance company, agreed to acquire the US term life business from Legal & General, a UK financial services provider, for $2.3bn. “We are delighted to welcome L&G’s market-leading US term life insurance business to the Meiji Yasuda family. With a trusted brand and legacy, this excellent team has an admirable growth trajectory and a shared commitment to customer-oriented products and services. We are ambitious for what we can achieve together, leveraging our nearly 50 years of experience in the U.S. market and our standing as one of Japan’s oldest and largest life insurers; bringing scale, expertise, and resources to keep driving the business forward. This acquisition will help us to accelerate our overseas growth, while providing established access to the U.S. individual life insurance market,” Daisaku Shintaku, Meiji Yasuda Managing Executive Officer.