In a move signaling the globalization of insurance-linked asset management, Dai-ichi Life has acquired a 15% equity interest in M&G plc, valued at $8 billion. The Tokyo-based insurer’s strategic investment underscores the increasing convergence between life insurance capital and asset management firms worldwide.
This landmark agreement sets the stage for M&G to receive $6 billion in new inflows over five years, with half directed toward premium, actively managed investment strategies. Meanwhile, Dai-ichi anticipates approximately $2 billion in business from leveraging M&G’s fund expertise.
Under the agreement, M&G becomes Dai-ichi’s primary investment partner in Europe, while the collaboration grants M&G strategic access to Japan and other key Asian markets via Dai-ichi’s established distribution network.
Company leaders underscored the alliance as a long-term strategy to boost earnings and diversify portfolio risks. “We’re building a global platform to capture opportunities in dynamic, high-yield sectors,” said Tetsuya Kikuta, CEO of Dai-ichi Life. Andrea Rossi, CEO of M&G, highlighted that the partnership enhances their ability to innovate investment products while reinforcing their strategic commitment to accelerating growth throughout Asia.
Dai-ichi will also be represented on M&G’s board and has agreed to a standstill limiting ownership to 19.99%, ensuring the strategic nature of the investment.
The deal is reflective of a broader post-pandemic trend: major insurers pursuing asset management capabilities to counter domestic pressures like demographic aging and inflation volatility.
