Dai-ichi underpins global expansion
The Japanese parent company of major Australian life insurer TAL, Dai-ichi Life, has moved to underpin its global growth by establishing regional headquarters in both North America and the Asia Pacific region.
The company announced the move late last week, describing establishment of the regional headquarters as being key to enhancing the group's governance structures as it accelerates its global expansion strategies in Japan, North America and the Asia-Pacific.
As part of the move, the company has acquired 100 per cent of US-based Protective Life Corporation which it will use as its strategic growth platform in North America.
The company established its Asia Pacific regional headquarters in Singapore in October last year with the intention that it will be up and running from the beginning of April this year.
Among those named as being on the board of directors of the Asia Pacific regional headquarter company, is retiring Tal chief executive, Jim Minto.
The Dai-ichi announcement said the regional headquarters company had been actively hiring a "pool of global-minded life insurance professionals, in order to establish an appropriate oversight structure suitable to regional attributes and the high growth potential of the Asia Pacific region".
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