Dai-ichi Life Group announced on the 3rd that it will acquire Fidelity Life Assurance, a New Zealand life insurance company, for NZ$630 million (approximately 59.6 billion yen). The company will acquire all shares through its New Zealand subsidiary, with the transaction expected to be completed by July 2027. Dai-ichi Life has set a target of raising the proportion of overseas life insurance operations to about 50% of the group's adjusted profit by fiscal 2030, and this acquisition is part of that plan. The contribution to adjusted profit from the Fidelity acquisition is expected to reach NZ$60 million (approximately 5.7 billion yen) annually at the earliest during the next medium-term management plan period. The impact on consolidated results for the current fiscal year (ending March 2027) and beyond is currently under review.
Daiichi Life Group. Inc.Dai-ichi Life is acquiring Fidelity Life for NZ$630M as part of its plan to lift overseas life insurance to ~50% of adjusted profit, with expected annual adjusted-profit contribution of NZ$60M.
Fidelity Life Assurance is being acquired in full by Dai-ichi Life's NZ subsidiary for NZ$630 million, with completion expected by July 2027.
