Nippon Life Insurance A$2.4 billion acquisition of 80% of MLC

Overview:

• Nippon Life Insurance has acquired 80% of MLC for A$2.4 billion.
• MLC is a subsidiary of the National Bank of Australia, with a total value of A$2.4 billion.
• NAB will continue to hold the remaining 20% of the company.
• This deal is Nippon Life's first overseas majority acquisition.
• Nippon Life is Japan's largest insurer with 126 years of history. The company also has foreign operations in India, Indonesia, China, Thailand and the US.
• MLC is an Australian life insurance company.

Katrin Kostadinova - Data analyst