Japan's Meiji Yasuda beats PE to Thai Life stake
Japan’s Meiji Yasuda Life Insurance has agreed to buy a 15% stake in Thai Life Insurance for an undisclosed sum, thought to be in the region of $750 million. Other participants in the auction reportedly included the Carlyle Group, KKR and CVC Capital Partners, as well as Sumitomo Life Insurance.
Meiji Yasuda, Japan's second-largest life insurer by premium income, noted in a statement that Thailand's growing middle income population and relatively low insurance penetration would drive demand for...
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