Dai-Ichi Life Insurance starts operations in "low cost" insurance

Insurer Dai-Ichi Life Insurance is currently a minority shareholder in Sompo Japan DIY Life Insurance. The group has announced that it will soon take total control over the "low cost" insurer with the acquisition of 90% of remaining stakes. The amount of the transaction is estimated at 52.7 million USD.

Sompo Japan DIY is selling low-cost insurance by email, telephone, and online. Following this acquisition, Dai-Ichi Life plans to sell discounted new health policies whose terms will be simplified while other classes of business will be targeted.