TOKYO, July 16 Japan's Dai-ichi Life Insurance
Co Ltd has submitted a second-round bid to buy ING's
insurance operations in Southeast Asia, a source with
direct knowledge of the matter told Reuters on Monday.
Binding bids for ING's Asia insurance and asset management
operations are due on Monday, in a deal worth about $7 billion,
separate sources previously told Reuters.
"Yes, Dai-ichi made an offer" the source said. The source
declined to be identified as the matter was not public.
ING's Southeast Asian business have been in hot demand, and
the business could fetch about $2 billion, one person familiar
with the matter previously told Reuters. Life insurance premiums
in Southeast Asia are forecast to grow rapidly on the back of
strong economic growth.
A spokesman for Dai-ichi declined to comment.
(Reporting by Taiga Uranaka; Writing by Denny Thomas; Editing
by Emi Emoto and Ron Popeski)