Japan Post Insurance and Dai-ichi Life Insurance will collaborate to offer financing and insurance services overseas, including asset management and product development.
Leveraging the mutual strength, Japan Post Insurance seeks to boost its deteriorating returns due to the Bank of Japan’s negative interest rate policy introduced last month. The partnership is expected to start next fiscal year.
It is believed that both companies will collectively invest in growth areas such as overseas infrastructure projects.
Additionally, Japan Post Insurance will seek to diversify its fund management with the help of Dai-ichi Life.
By cooperating with Japan Post Insurance, Dai-ichi Life plans to benefit and lower costs through economies of scale. Dai-ichi Life will also strengthen sales of its products leveraging Japan Post Insurance’s sales networks.
Furthermore, both firms will jointly develop medical and nursing care insurance products.