Dai-Ichi Life Insurance to Raise $3.5 Billion in Capital, Nikkei Reports
By JoAnne Norton -
2010-09-13T17:08:42Z
Dai-ichi Life Insurance Co. will increase its capital by adding about 300 billion yen ($3.5 billion) in perpetual subordinated loans as the industry adopts new solvency rules, Nikkei English News reported, without saying where it got the information.
Dai-ichi Life is in talks with more than 20 banks, Nikkei said. Conventional subordinated loans aren’t counted as capital under the new standards; perpetual ones are, Nikkei reported.
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