Leading global investment firm KKR has acquired Japanese insurance distributor Hoken Minaoshi Hompo Group. This is expected to accelerate the insurance distributor's growth strategy and unlock new value, including through organic and inorganic growth strategies such as sales enablement and bolt-on acquisitions.
The investment funds are serviced by Advantage Partners (“AP”), a Japanese private equity sponsor.Hoken Minaoshi Hompo Group is a leading insurance distributor in Japan, with an omnichannel presence including in-store services, call centers, and online. The company’s flagship brand, Hoken Minaoshi Hompo, offers in-store services at around 350 strategic retail locations across Japan, and offers a wide range of insurance products from more than 40 insurance companies.
Hoken Minaoshi Hompo Group offers flexible consultation options to accommodate customers' diverse needs and schedules, including in-store face-to-face meetings, online consultations, home visits, and telephone consultations.
KKR Asia Pacific deputy executive chairman and KKR Japan CEO Hiro Hirano said, “As the industry continues to evolve, we see significant opportunities for the company to strengthen its platform and better serve the diverse needs of customers. We look forward to working alongside the management team and drawing on KKR’s global network, sector expertise, local knowledge, and operational capabilities to support Hoken Minaoshi Hompo Group in its next stage of growth.”
Hoken Minaoshi Hompo Group CEO Tomoki Usui said, “We are delighted to welcome KKR as our new investor. Their deep expertise in the financial services sector, proven track record of growing businesses in Japan, and global insurance industry knowledge will support us to achieve our mission of providing services that enable everyone to live a 100-year lifespan with peace of mind and happiness.”
The value of the deal has not been disclosed, but sources familiar with the matter said KKR bought the insurance distributor for slightly over JPY30bn ($204m).