Dai-ichi Life considers share issue to fund part of Protective Life buy: Source

Japanese insurer Dai-ichi Life Co is considering the possibility of issuing shares to raise funds if it successfully concludes advanced talks to buy Protective Life Corp of the United States, a source with direct knowledge of the matter said.

Dai-ichi Life, Japan's second-largest private-sector life insurer, is planning to fund half of the acquisition of the US insurer - likely to be worth over $5 billion - from existing reserves, said the source, who was not authorised to discuss the matter publicly. The rest of the acquisition cost would come from funds raised externally, including a possible share issue, the sourse said.

The Japanese company plans to buy 100% of Birmingham, Alabama-based Protective Life, said the source.

Dai-ichi Life declined to comment.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Sebi must not be lax in weeding out mutual fund houses

    Last May, capital market regulator Securities and Exchange Board of India (Sebi) amended the Sebi (mutual funds) regulations, 1996, directing all fund

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

New model for effective education

After interacting with students and teaching community on a ...

Rajgopal Nidamboor

Let the spirit of sport pervade everyday life

Sport, like meditation, is nothing short of a spiritual act. ...

Shona Adhikari

Pop art is truly a feast for the eyes

The internationally reknowned Bruno Art Group’s presence in India had ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture