Deals
Tokio Marine Southeast Asia Asset Sale Draws Japan Rivals, Sources Say
- Dai-ichi, Nippon weigh bids for firm’s SE Asia life businesses
- Other insurance firms show interest in specific markets
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Japanese insurers Dai-ichi Life Holdings Inc. and Nippon Life Insurance Co. are among the firms considering bids for Tokio Marine Holdings Inc.’s life insurance business in Southeast Asia, according to people familiar with the matter.
Dai-ichi Life and Nippon Life are working with financial advisers as they weigh making non-binding bids for the assets, which include Tokio Marine’s businesses in Indonesia, Malaysia, Singapore and Thailand, the people said. While other insurance companies have expressed interest in some specific markets, Tokio Marine’s preference is to sell the assets as a package, the people said, asking not to be identified because the matter is private.