All posts from in,

Protective to Acquire In-force Blocks of Term Life Insurance From Genworth Financial


[Unofficial Translation]

October 1, 2015

Protective Life Corporation ('Protective'), a wholly owned US subsidiary of The Dai-ichi Life Insurance Company, Limited (the 'Company'; President: Koichiro Watanabe), today has reached an agreement through its wholly owned subsidiary, Protective Life Insurance Company, with Genworth Life and Annuity Insurance Company, a wholly owned subsidiary of Genworth Financial, Inc. ('Genworth'), Richmond, Virginia, US, to acquire through reinsurance certain in-force blocks* of term life insurance from Genworth (the 'Acquisition'). The transaction is expected to close early in the first quarter of 2016, however the transaction is subject to customary regulatory approvals and closing conditions.

This will be the very first transaction, after...