The famous AFLAC duck may soon be flying higher in the Japanese insurance market, as the company announced an impending alliance with Dai-Ichi Mutual, the country’s second largest life insurer.
AFLAC has been in Japan since 1974, and has developed a strong presence in the health insurance sector, notably in cancer insurance with nearly 90 percent of the market. Plans are to distribute AFLAC’s products through Dai-Ichi’s 50,000 strong sales force, and for AFLAC to offer Dai-Ichi’s life products.
The two companies also plan to jointly develop medical and nursing care products, and, according to newspaper reports, were holding discussions with Japanese p/c insurer Yasuda Fire & Marine, which has already formed a cooperation agreement with Dai-Ichi, to join the alliance.
Topics Japan
Was this article valuable?
Here are more articles you may enjoy.
Allstate to Sell Employer Voluntary Benefits Business to StanCorp for $2 Billion 
Hard Reinsurance Prices Likely to Last Longer Than in Previous Market Cycles: Report 
Florida Insurer Can’t Object to Appraiser After the Award Is Decided, 11th Circuit Says 
U.S. Auto Insurers’ Strong Performance to Continue Through 2025: Fitch 
