Latest news with #BrettClark
Japan Times
01-08-2025
- Business
- Japan Times
Japan's Dai-ichi Life eyes M&A in Southeast Asia for growth
Dai-ichi Life Holdings is considering mergers and acquisitions (M&As) in Southeast Asia as part of its plan to expand overseas, eyeing a growing but increasingly crowded market. Japan's biggest listed life insurer is looking at the Philippines and Malaysia as emerging markets that offer business opportunities as more households ascend to middle class, said Brett Clark, senior managing executive officer in charge of the firm's Asia-Pacific region outside of Japan. Dai-ichi Life is also interested in expanding its customer base in Singapore, which has a lucrative market serving high net worth individuals but is also highly competitive, he said in an interview. "The whole of Asia Pacific is a competitive market and so we're not complacent,' Clark said. "We would prefer to avoid small and subscale positions in many markets and would rather have larger and scaled positions in fewer markets.' Major Japanese life insurers are seeking to expand profits from overseas operations, as a declining birth rate and an aging population in the home market limit potential for growth. But the biggest insurance markets in the United States and Europe are already crowded, and competition is heating up in Asia, particularly in developed economies like Singapore. Sumitomo Life Insurance, for one, boosted its presence in the city state in a big way last year, making Singapore Life a wholly owned subsidiary. Dai-ichi Life plans to generate about half of its group adjusted profit from overseas life insurance operations in the fiscal year ending March 2031, with half of that coming from the Asia-Pacific region outside of Japan. The firm aims to increase profit from the region to ¥150 billion ($1 billion) from ¥57.6 billion over the period. Group adjusted profit is used to calculate shareholder returns, adjusting net income for accounting gains and losses. "If we could add an operating unit in Singapore or Malaysia or the Philippines, that would be ideal for us sometime over the next few years,' Clark said. Potential measures include investments in local insurers, and it's also considering asset management firms as M&A targets, he said. Dai-ichi Life already has operations in Australia, India and some Southeast Asian markets including Vietnam. Clark, in fact, was an executive at Tower Australia Group when Dai-ichi acquired it in 2011.
Yahoo
01-08-2025
- Business
- Yahoo
Japan's Dai-ichi Life Eyes M&A in Southeast Asia for Growth
(Bloomberg) -- Dai-ichi Life Holdings Inc. is considering mergers and acquisitions in Southeast Asia as part of its plan to expand overseas, eyeing a growing but increasingly crowded market. The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival We Should All Be Biking Along the Beach Budapest's Most Historic Site Gets a Controversial Rebuild San Francisco in Talks With Vanderbilt for Downtown Campus Japan's biggest listed life insurer is looking at the Philippines and Malaysia as emerging markets that offer business opportunities as more households ascend to middle class, said Brett Clark, Senior Managing Executive Officer in charge of the firm's Asia-Pacific region outside of Japan. Dai-ichi Life is also interested in expanding its customer base in Singapore, which has a lucrative market serving high net worth individuals but is also highly competitive, he said in an interview. 'The whole of Asia Pacific is a competitive market and so we're not complacent,' Clark said. 'We would prefer to avoid small and subscale positions in many markets and would rather have larger and scaled positions in fewer markets.' Major Japanese life insurers are seeking to expand profits from overseas operations, as a declining birth rate and an aging population in the home market limit potential for growth. But the biggest insurance markets in the US and Europe are already crowded, and competition is heating up in Asia, particularly in developed economies like Singapore. Sumitomo Life Insurance Co., for one, boosted its presence in the city state in a big way last year, making Singapore Life Holdings Pte a wholly owned subsidiary. Dai-ichi Life plans to generate about half of its group adjusted profit from overseas life insurance operations in the fiscal year ending March 2031, with half of that coming from the Asia-Pacific region outside of Japan. The firm aims to increase profit from the region to ¥150 billion ($1 billion) from ¥57.6 billion over the period. Group adjusted profit is used to calculate shareholder returns, adjusting net income for accounting gains and losses. 'If we could add an operating unit in Singapore or Malaysia or the Philippines, that would be ideal for us sometime over the next few years,' Clark said. Potential measures include investments in local insurers, and it's also considering asset management firms as M&A targets, he said. Dai-ichi Life already has operations in Australia, India, and some Southeast Asian markets including Vietnam. Clark, in fact, was an executive at Tower Australia Group Ltd. when Dai-ichi acquired it in 2011. (Updates with a chart and a photo of Clark. An earlier version of this story corrected the insurer's profit goal figures.) Burning Man Is Burning Through Cash Russia Builds a New Web Around Kremlin's Handpicked Super App Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
31-07-2025
- Business
- Mint
Japan's Dai-ichi Life Eyes M&A in Southeast Asia to Grow Abroad
Dai-ichi Life Holdings Inc. is considering mergers and acquisitions in Southeast Asia as part of its plan to expand overseas, eyeing a growing but increasingly crowded market. Japan's biggest listed life insurer is looking at the Philippines and Malaysia as emerging markets that offer business opportunities as more households ascend to middle class, said Brett Clark, Senior Managing Executive Officer in charge of the firm's Asia-Pacific region outside of Japan. Dai-ichi Life is also interested in expanding its customer base in Singapore, which has a lucrative market serving high net worth individuals but is also highly competitive, he said in an interview. 'The whole of Asia Pacific is a competitive market and so we're not complacent,' Clark said. 'We would prefer to avoid small and subscale positions in many markets and would rather have larger and scaled positions in fewer markets.' Major Japanese life insurers are seeking to expand profits from overseas operations, as a declining birth rate and an aging population in the home market limit potential for growth. But the biggest insurance markets in the US and Europe are already crowded, and competition is heating up in Asia, particularly in developed economies like Singapore. Sumitomo Life Insurance Co., for one, boosted its presence in the city state in a big way last year, making Singapore Life Holdings Pte a wholly owned subsidiary. Dai-ichi Life plans to generate about half of its group adjusted profit from overseas life insurance operations in the fiscal year ending March 2031, with half of that coming from the Asia-Pacific region outside of Japan. The firm aims to increase profit from the region to ¥1.5 trillion from ¥576 billion over the period. Group adjusted profit is used to calculate shareholder returns, adjusting net income for accounting gains and losses. 'If we could add an operating unit in Singapore or Malaysia or the Philippines, that would be ideal for us sometime over the next few years,' Clark said. Potential measures include investments in local insurers, and it's also considering asset management firms as M&A targets, he said. Dai-ichi Life already has operations in Australia, India, and some Southeast Asian markets including Vietnam. Clark, in fact, was an executive at Tower Australia Group Ltd. when Dai-ichi acquired it in 2011. This article was generated from an automated news agency feed without modifications to text.
Bloomberg
31-07-2025
- Business
- Bloomberg
Japan's Dai-ichi Life Eyes M&A in Southeast Asia to Grow Abroad
Dai-ichi Life Holdings Inc. is considering mergers and acquisitions in Southeast Asia as part of its plan to expand overseas, eyeing a growing but increasingly crowded market. Japan's biggest listed life insurer is looking at the Philippines and Malaysia as emerging markets that offer business opportunities as more households ascend to middle class, said Brett Clark, Senior Managing Executive Officer in charge of the firm's Asia-Pacific region outside of Japan.
