Alexa
  • Directory of Taiwan

Aegon and Sony Life to start life insurance company in Japan

Aegon and Sony Life to start life insurance company in Japan

Aegon NV and Sony Life Insurance Co. Ltd. said Thursday that they will start a life insurance company in Japan in an equal joint venture
The company will develop annuity products that will be distributed through Sony Life's Lifeplanner channel as well as through banks and other financial institutions, the companies said in a statement.
Financial details of the transaction were not disclosed.
"The Japanese market presents a significant opportunity for companies that are able to develop innovative products and services that can effectively respond to the developing need," Aegon Chief Executive Donald Shepard said.
The annuity market in Japan has been rapidly growing and total variable annuity assets totaled over US$85 billion (euro63.4 billion) at the end of March 2006 and sales were US$17 billion (euro13.1 billion) in the first half of fiscal 2006, the company said.


Updated : 2021-05-09 12:25 GMT+08:00