MS&AD to sell its stake in Challenger to Dai-ichi Life

MS&AD Insurance Group Holdings has sold its 15.1% stake in Challenger, an Australian financial services company specializing mainly in life insurance and fund management.

The acquiring company is TAL Dai-ichi Life Australia, a subsidiary wholly owned by the Japanese group Dai-ichi Life Holdings.

The transaction is valued at 80 billion JPY (548.6 million USD).

Pending regulatory approvals, the sale is expected to be finalized in fiscal year 2025.