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3w ago

Dai-ichi Life Takes 15% Stake in British Insurer M&G

It grants Dai-ichi a seat on M&G’s board, giving the Japanese insurer preferred access to European and Asian markets.

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Andrea Rossi, M&G chief executive, said the partnership was a sign of Dai-ichi’s confidence in the FTSE 100 fund management company
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Overview

  • Dai-ichi Life’s 15% acquisition makes it M&G’s largest single shareholder and confers the right to appoint a director to the asset manager’s board for as long as the stake is held.
  • The partnership is projected to generate $6 billion of new business flows for M&G and $2 billion for Dai-ichi Life over the next five years.
  • The transaction underscores a broader consolidation trend in the asset management industry as firms seek scale to rival US giants such as BlackRock and Vanguard.
  • Following the announcement on May 30, M&G shares jumped over 8% in early trading to their highest level since June 2021.
  • The deal continues Dai-ichi Life’s global expansion strategy after recent 15% stakes in Capula Investment Management and Australia’s Challenger.