Dai-ichi Life buys Protective Life for $5.7bn
Japan's second largest life insurer Dai-ichi Life is purchasing 100% of Alabama-based life insurer Protective Life for ¥582.2bn ($5.7bn).
Dai-ichi Life is paying $70 a share, a price that is 35% above Protective's average share price for the last month.
In 2013, Prospective had a premium and fee income of $2.98bn and profits of $393m.
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