American asset manager Apollo Global Management is eyeing the acquisition of a Japanese life insurer in a bid to gain market share in the Asian country.
Reports from a British daily say Apollo is mulling the purchase of life insurance subsidiaries of T&D Holdings Inc. and Orix Corp, with discussions with Japanese groups already at an early stage.
Due to slowing demand for life insurance and similar offerings targeting retirees in the US, Apollo has turned to Japan, which is one of the world’s largest insurance markets, driven by its ageing population and rising demand for elderly care.