Manulife launches Japanese deal

Article Abstract:

Manufacturers Life Insurance Co (Manulife) of Toronto, Ontario, expects its joint venture with Daihyaku Mutual Life Insurance Co of Tokyo to start turning in profits within five years. Manulife has already agreed to invest C$520 billion (Y40 billion) in the joint venture, called Manulife Century Insurance Co. Manulife Pres and CEO Dominic D'Allesandro expects the joint venture to give Manulife a headstart in Japan, which is the world's biggest life insurance market with some C$28.6 billion worth of policies in force.

Organizational history, Manulife Century Insurance Co.

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Manulife set to announce deal with Japanese insurer

Article Abstract:

Manufacturers Life Insurance Co will launch a joint venture in Japan with Daihyaku Mutual Life Insurance Co. The Canadian insurer is expected to invest between C$500 million-C$600 mllion in the joint venture. Manulife had assets of C$52.5 billion at the end 3rd qtr 1997 while its partner, Daihayaku, the 15th largest Japanese insurance company, has around 2.6 trillion yen ($34 billion) in assets.

Life insurance

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