Latest news with #Dai-ichiLife
Yahoo
3 days ago
- Business
- Yahoo
UK stock markets rise with trading steady while US tariffs ‘in limbo'
UK stock markets have ended the month in the green as markets remain steady in the face of persistent uncertainty over Donald Trump's tariffs. London's FTSE 100 rose 55.93 points, or 0.64%, to close at 8,772.38. The index outperformed European peers, with Germany's Dax rising 0.27%, while France's Cac 40 closed 0.36% lower. Trading started off on the back foot over on Wall Street. The S&P 500 was down about 0.35%, and Dow Jones was 0.15% lower by the time European markets closed. A group of equity analysts for Barclays wrote in a research note: 'Equity markets held steady this week amidst ever changing policy narratives.' 'It also shows that investors are reacting more calmly to tariff headlines now, viewing them increasingly as negotiation tactics.' They added that there were signs of 'fatigue' among traders as Mr Trump's trade policy is held 'in limbo'. In new developments this week, the US president is fending off potential roadblocks to his trade policies from the US courts. On Thursday, a federal appeals court said it was allowing Mr Trump to continue collecting import taxes for now, a day after a lower court blocked the duties. Barclays' analysts said the 'guessing game on tariffs leaves the market exposed' to sharp moves as a result of the changes. Meanwhile, the pound was down about 0.1% against the US dollar, at 1.348, and rising around 0.1% against the euro, at 1.187. In company news, M&G said it had partnered with Japanese life insurer Dai-ichi Life to accelerate the group's expansion into European private markets, and give it greater access to markets in Japan and across Asia. Dai-ichi Life plans to buy a 15% stake in M&G as part of the deal, the firm said, which would make it the largest shareholder in the British investment firm. Shares in M&G rose 5.5% on Friday, making it the biggest riser on the FTSE 100. BP announced it has appointed David Hager to its board of directors, who joins following a 40-year career in the oil and gas industry, including as the former chief executive of Devon Energy. Mr Hager 'brings deep-rooted knowledge of the US upstream oil and gas industry', BP's chair Helge Lund said. BP's shares closed 0.5% higher. The biggest risers on the FTSE 100 were M&G, up 12.3p to 236.7p, GSK, up 51p to 1,507p, BT, up 5.5p to 179.45p, AstraZeneca, up 322p to 10,720p, and Unite Group, up 21.5p to 861p. The biggest fallers on the FTSE 100 were IAG, down 6.7p to 326.1p, Spirax, down 100p to 5,715p, Compass Group, down 45p to 2,605p, Polar Capital Technology Trust, down 5.5p to 326.5p, and Rio Tinto, down 59p to 4,402p.
Business Recorder
3 days ago
- Business
- Business Recorder
Japan's Dai-Ichi Life to take 15% stake in British insurer M&G
PARIS/LONDON: Japanese insurer Dai-ichi Life will take a 15% stake in British financial group M&G and has agreed a long-term partnership, sending shares in M&G sharply higher and marking the latest overseas foray by a Japanese firm. The tie-up, in which Dai-ichi Life becomes M&G's biggest single shareholder, is expected to deliver at least $6 billion of new business for M&G and $2 billion of new business for Dai-ichi Life over the next five years, M&G said on Friday. M&G shares rose more than 8% in early trading, hitting their highest since June 2021. The stock was last up nearly 6% at 1050 GMT. M&G CEO Andrea Rossi told Reuters the agreement would help the firm accelerate growth in Asia via Dai-ichi Life's distribution network. He said the Japanese firm would also help fuel the growth of its European private markets business. M&G has been seen as a takeover target in the past, but Rossi said the tie-up would strengthen M&G's competitive position as a standalone firm. 'I can see us having a great independent future in front of us,' he said. The two companies will 'pursue opportunities to co-invest in new asset management capabilities' under the tie-up, and M&G will become Dai-ichi Life's preferred asset management partner in Europe. Asset management has seen a spate of consolidation and collaboration deals in recent years as firms try to bulk up in order to compete with U.S. giants like BlackRock and Vanguard. Japanese firms have also become more active in the insurance and asset management market outside of Japan, with British rival Legal & General announcing a tie-up with Meiji Yasuda in February, while DWS is in talks to form a joint venture with Nippon Life in India, Reuters reported this month. Under the deal, Dai-ichi Life will have the right to appoint a director to the board of M&G for as long as it holds at least a 15% shareholding, the British company said. In 2023 M&G was linked with a potential bid by Australia's Macquarie, which the British money manager at the time dismissed as speculative. Active asset managers have come under pressure from inflation and from investors turning to passive investment funds, which charge lower fees. M&G reported an unexpected rise in annual profit in March, helped by cost-cutting and growth in its asset management business. Dai-ichi Life earlier in May said it would raise its stake in UK-based Capula Investment Management to 15%, from just under 5%, and in April agreed to buy a 15.1% stake in Australian investment manager Challenger for around $550 million.
Nikkei Asia
14-05-2025
- Business
- Nikkei Asia
Top Japan life insurers on guard against rising ultralong yields
TOKYO -- Dai-ichi Life Insurance and Nippon Life Insurance, two of Japan's biggest institutional investors, are navigating choppy waters churned up by the Trump administration's fast-changing tariff policy and a jump in Japanese bond yields at the ultralong-term end. Kazuyuki Shigemoto, managing executive officer at Dai-ichi Life, said the company was ready for the market turmoil that followed Trump's "Liberation Day" in April.
Nikkei Asia
14-05-2025
- Business
- Nikkei Asia
Top Japan life insurers on guard for rising ultralong yields
TOKYO -- Dai-ichi Life Insurance and Nippon Life Insurance, two of Japan's biggest institutional investors, are navigating choppy waters churned up by the Trump administration's fast-changing tariff policy and a jump in Japanese bond yields at the ultralong-term end. Kazuyuki Shigemoto, managing executive officer at Dai-ichi Life, said the company was ready for the market turmoil that followed Trump's "Liberation Day" in April.
Yahoo
12-05-2025
- Business
- Yahoo
Dai-ichi Life to raise stake in UK asset manager Capula to 15%
Japan's Dai-ichi Life has announced plans to acquire additional stake in UK-based hedge fund Capula Investment Management and Capula Management (together called Capula), increasing its total ownership to 15%. The Dai-ichi Life Insurance Company, a subsidiary of Dai-ichi Life, currently holds a 4.7% share in the UK alternative asset manager. This move is part of the Tokyo-based life insurer's strategy to bolster its capacity to manage non-traditional assets effectively. Capula, established in 2005 by Yan Huo and Masao Asai, specialises in fixed-income arbitrage, crisis alpha, and global macro strategies. With headquarters in London and offices across Japan, the US, Hong Kong, and Singapore, Capula employs 408 executives and staff, including 142 investment professionals. As of 2024, the firm managed assets totalling approximately Y4.8tn ($31.8bn). The firm's fixed-income arbitrage fund Global Relative Value Master Fund has achieved an average annual return of 8.29% since its inception in 2005. As part of the transaction, a 'board of partners member' from Dai-ichi Life will join Capula. Upon deal closing, Capula will become an equity-method affiliate of Dai-ichi Life. The completion of this transaction is expected in May, and Dai-ichi Life anticipates that the stake acquisition will generate equity income of approximately Y5bn ($34m) in FY2025. Dai-ichi Life is pursuing inorganic growth opportunities in the asset management sector, aiming to reach a group corporate value of Y10tn and a profit target of Y600bn by 2030. This development follows the company's acquisition of a 19.9% stake in Canyon Partners, a US-based fund with credit expertise, in March 2024. "Dai-ichi Life to raise stake in UK asset manager Capula to 15%" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
