TOKYO (Reuters) - Japan’s Dai-ichi Life Holdings will buy Australian banking group Westpac’s life insurance business for about A$900 million ($665.5 million), the Nikkei reported on Friday.
Dai-ichi Life is looking to boost its overseas revenue as Japan contends with a declining population. The deal will be completed by the end of the 2022 financial year, the Nikkei reported.
A spokesperson for Dai-ichi Life declined to comment.
($1 = 1.3524 Australian dollars)
Reporting by Takashi Umekawa; Editing by David Goodman
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