Nippon Life Insurance acquires a 20% stake in Corebridge Financial for $3.8bn in cash, marking its largest deal as it aims for US market growth.
Nippon Life Insurance Co., Japan's largest insurer, has agreed to acquire a 20% stake in Corebridge Financial Inc. for approximately $3.8 billion in cash, marking its largest deal ever as it seeks growth in the US market. AIG, which owns more than 50% of Corebridge, will also maintain a 9.9% stake in Corebridge for two years after the deal closes. The transaction is subject to regulatory approval.
May 16, 2024
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