Close Close

Life Health > Life Insurance

Pru To Help Reorganize Yamato Life

Your article was successfully shared with the contacts you provided.

A subsidiary of a U.S. life insurer has agreed to serve as reorganization sponsor for a Japanese life insurer that declared bankruptcy in October 2008.

Gibraltar Life Insurance Company Ltd., a unit of Principal Financial Inc., Newark, N.J., will be acquiring the Japanese life insurer, Yamato Life Insurance Company, Tokyo, “without purchase price consideration,” Prudential says.

“It is expected that Yamato will become a wholly owned subsidiary of Gibraltar Life and that Gibraltar Life will contribute capital, from its general account assets to Yamato in connection with the acquisition, Prudential says.


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.