Sumitomo Life to Buy Business of U.S. Life Insurer

HEADLINES

Tokyo, July 2 (Jiji Press)–Japan’s Sumitomo Life Insurance Co. has said that it will acquire the group life and disability business of midsize U.S. life insurer Dearborn Group through its U.S. subsidiary Symetra Financial Corp. For the acquisition, expected to be worth about 100 billion yen, Sumitomo Life will invest an additional 900 million dollars, or about 130.5 billion yen, in Symetra …

Tokyo, July 2 (Jiji Press)–Japan’s Sumitomo Life Insurance Co. has said that it will acquire the group life and disability business of midsize U.S. life insurer Dearborn Group through its U.S. subsidiary Symetra Financial Corp. For the acquisition, expected to be worth about 100 billion yen, Sumitomo Life will invest an additional 900 million dollars, or about 130.5 billion yen, in Symetra …