(Sompo Japan, IFS A+/Stable), and will purchase the remaining 90% from Sompo Japan in the latest deal. The purchase price is around JPY5bn, which is negligible compared with Dai-ichi Life's net assets of JPY1,971bn at end-December 2013. Dai-ichi Life's customer base has been built up largely through its own sales force, which attracts conservative customers who are less sensitive to premium rates and prefer consulting with sales people. By acquiring Sompo Japan DIY, Dai-ichi Life will be able to tap proactive and price-sensitive customers who shop around for products. Non-traditional life insurers, including foreign companies such as Aflac, Inc. (IFS AA-/Stable) and subsidiaries of non-life insurance groups such as NKSJ Himawari Life Insurance Co., Limited, have demonstrated their strength in this market segment with their relatively simpler and cheaper products.
Source: http://www.reuters.com/article/2014/02/18/fitch-dai-ichi-life-acquisition-wont-hur-idUSFit69082820140218