Japanese life insurer Dai-ichi is to buy the Australian life insurance unit of Suncorp for (AUD640m) $480m through a subsidiary. The deal will see Suncorp's existing business in Japan and Australia combined into one entity with an estimated AUD $US1.3bn ($A2.2bn) market capitalisation.
Japanese life insurer Dai-ichi is to buy the Australian life insurance unit of Suncorp for (AUD640m) $480m through a subsidiary. The Australian life insurance market is growing by 10% a year and the takeover is expected to be completed by the end of August.