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Nippon Life agrees to buy National Australia Bank's life insurance unit for $1.7 billion

( October 14, 2015, 07:22 GMT | Insight) -- Japan's Nippon Life Insurance has agreed to acquire the life insurance unit of National Australia Bank for about 200 billion yen ($1.7 billion), the Nikkei newspaper reported today. An announcement of the transaction is expected by the end of this mont...Japan's Nippon Life Insurance has agreed to acquire the life insurance unit of National Australia Bank for about 200 billion yen ($1.7 billion), the Nikkei newspaper reported today. An announcement of the transaction is expected by the end of this month. According to the newspaper, the Australian bank will separate the business as a subsidiary, in which the Japanese insurer will take an 80 percent stake. Nippon Life is seeking to expand overseas because Japan’s insurance market has little room for growth amid a shrinking population....

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