M&A Deal Summary

Dai-ichi Life Holdings Acquires Protective Life

On October 6, 2014, Dai-ichi Life Holdings, Inc. acquired insurance company Protective Life Corp. for 5.7B USD

Acquisition Highlights
  • This is Dai-ichi Life Holdings’ 1st transaction in the Insurance sector.
  • This is Dai-ichi Life Holdings’ 1st largest (disclosed) transaction.
  • This is Dai-ichi Life Holdings’ 1st transaction in the United States.
  • This is Dai-ichi Life Holdings’ 1st transaction in Alabama.

M&A Deal Summary

Date 2014-10-06
Target Protective Life Corp.
Sector Insurance
Buyer(s) Dai-ichi Life Holdings, Inc.
Deal Type Add-on Acquisition
Deal Value 5.7B USD
Advisor(s) Morgan Stanley (Financial)
Debevoise & Plimpton LLP (Legal)

Target

Protective Life Corp.

Birmingham, Alabama, United States
website
Entrance to Protective Life's corporate headquarters in Birmingham, Alabama.
Entrance to Protective Life's corporate headquarters in Birmingham, Alabama.
Protective Life Corporation provides financial services in the United States. The Company is engaged in the production, distribution, and administration of insurance and investment products. Protective Life Corp. was formed in 1907 and is headquartered in Birmingham, Alabama.

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Buyer(S) 1

Buyer

Dai-ichi Life Holdings, Inc.

Tokyo, Japan

website


Category Company
Founded 1902
SectorInsurance
Employees62,938
Revenue 6,872.3B JPY (2019)
DESCRIPTION

The Dai-ichi Life Insurance Co., Ltd. is a life insurance company. Dai-ichi offers underwriting of insurance policies, including personal insurance, individual annuity insurance, group insurance, group pension insurance, other insurances and reinsurance. Dai-ichi Life Holdings was founded in 1902 and is based in Tokyo, Japan.


DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Alabama) 1 of 1
Country (United States) 1 of 1
Year (2014) 1 of 1
Size (of disclosed) 1 of 1