Nippon Life in talks for the takeover of NAB Insurance

Nippon Life Insurance has started preliminary talks with the insurance subsidiary of National Australia Bank (NAB), which is specialized in life insurance.

Negotiations are progressing slowly as Nippon Life has so far conducted just a summary study of the assets of NAB whose performance was below compared to its competitors in recent years.

The difficulties of the bank in Britain are partly responsible for these delays. With the arrival of a new CEO, the group has started a program to asset cession refocusing efforts on its domestic market and its subsidiaries in New Zealand.

The new regulations in banking have increased the pressure on the group. The value of NAB Insurance is estimated within a range of 1.6 to 2.4 billion USD.