Japan’s Dai-ichi Life Holdings will acquire a 15% stake in British insurer and asset manager M&G, forming a strategic partnership aimed at boosting business growth for both companies.
This alliance makes Dai-ichi Life the largest single shareholder in M&G. The deal is expected to generate at least $6 billion in new business flows for M&G and $2 billion for Dai-ichi Life over the next five years.
Under the agreement, M&G will become Dai-ichi Life’s preferred asset management partner in Europe. The two firms plan to collaborate on expanding asset management capabilities and jointly developing new products.
Dai-ichi Life will also have the right to appoint a director to M&G’s board as long as it holds at least a 15% stake.
M&G’s CEO Andrea Rossi highlighted that the partnership will help the company tap into significant private market opportunities across Europe and gain better access to the Japanese and Asian markets through Dai-ichi Life’s network.
Following the announcement, M&G shares rose more than 8%, reaching their highest level since June 2021.
This move follows Dai-ichi Life’s recent investments, including increasing its stake in UK-based Capula Investment Management and acquiring a 15.1% stake in Australian investment manager Challenger for around $550 million.
Overall, the partnership aims to drive long-term growth by combining M&G’s asset management expertise with Dai-ichi Life’s insurance business and distribution channels across Europe and Asia.
READ MORE:
