Nippon Life Insurance (日本生命保険相互会社) acquires 1% of stock of AXA Life Insurance
Nippon Life Insurance and AXA to jointly offer health insurance product Medi-AxN
Nippon Life Insurance (日本生命保険相互会社) and AXA Life Insurance announced a partnership, and Nippon Life intends to acquire 1% of outstanding shares of AXA Life Insurance to develop a long-term partnership.
Currently AXA’s market capitalization is US$ 62 billion, therefore Nippon Life’s 1% investment in AXA corresponds to about US$ 0.62 billion.
Nippon Life Insurance and AXA are planning to jointly market the health insurance product Medi-AxN (メディ・アン).
Nippon Life Insurance (日本生命保険相互会社) was founded on July 4, 1889, is based on Osaka, and has a total of 70,806 employees (of which 18,481 are in-house employees).
Nippon Life Insurance (日本生命保険相互会社) has 113 branch offices, 1562 sales offices and 12,567 distribution partners.
Nippon Life Insurance (日本生命保険相互会社, 日本生命) is a mutual company (相互会社), and not currently traded on any stock exchange.
Annual sales: YEN 7 201 billion (= US$ 60 billion) (FY 2013)
Net income: YEN 248 billion (=US$ 2 billion) (FY 2013)
The AXA Group is active in 59 countries with about 157,000 employees, with about 100 million customers.
Annual sales: € 92 billion (2014)
AXA is traded on the Paris Euronext exchange.
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