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T&D Holdings Inc : ?Daido Life Insurance Company?Strategic Investment in the German Insurance group NUERNBERGER(72 KB)
December 24, 2013
Daido Life Insurance Company
Tetsuhiro Kida, President
Strategic Investment in
the German Insurance group NÜRNBERGER
Daido Life Insurance Company ("Daido"), a member of T&D Life Group, is pleased to announce that Daido has signed agreements to acquire a 5% stake in NÜRNBERGER Beteiligungs- Aktiengesellschaft ("NÜRNBERGER"), a publicly listed German Insurance group. At the same time, Daido has entered into a co-operation agreement with NÜRNBERGER.
NÜRNBERGER, with approximately 130 years of history since its foundation in 1884, is a leading German insurance group which mainly operates in life insurance. Daido and NÜRNBERGER sympathize with their respective corporate philosophy and truly believe that Daido's strategic investment will be of mutual benefit for both organizations.
On the basis of the co-operation agreement, Daido and NÜRNBERGER will explore the exchange of personnel and information and also explore joint strategic initiatives, including a
cooperation in the area of products/services and investments.
For inquiries regarding the above, please contact:
Investor Relations, T&D Holdings, Inc. Tel: +81-3-3434-9142
(Reference)
Overview of NÜRNBERGER
Company Name
NÜRNBERGER Beteiligungs-Aktiengesellschaft
Year of Foundation
1884
Location of the Headquarters
Nürnberg, Germany
Representative
Dr. Armin Zitzmann (CEO)
Major Business Areas of the
Group
Life insurance and Property-Casualty insurance
Key Figures (consolidated) (FY2012)
Premium Income (Total) EUR 3,639 million
(in Life business) EUR 2,702 million
Key Figures (consolidated) (FY2012)
Net Income (Total) EUR 82 million
(in Life business) EUR 60 million
Key Figures (consolidated) (FY2012)
Total Assets EUR 25,169 million
Rating
[The primary entities of the group:
Life: NÜRNBERGER Lebensversicherung AG and
P&C: NÜRNBERGER Allgemeine Versicherungs-AG]
A+, stable (Fitch Ratings; Insurer Financial Strength Rating )
A, stable (Standard & Poor's; Insurer Financial Strength Rating )
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Duration Auto. 2 months 3 months 6 months 9 months 1 year 2 years 5 years 10 years Max.
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T&D Holdings, Inc. is a holding company detaining shares in the life insurance companies Taiyo Life, Daido Life and T&D Financial Life.
More about the company
Last Close Price
2,486
JPY
Average target price
3,019
JPY
Spread / Average Target
+21.44%
Consensus
1st Jan change
Capi.
+9.08% 8.57B -0.79% 91.17B +0.74% 90.05B +19.01% 74.89B -25.86% 69.66B +18.66% 28.14B +3.09% 26.49B +1.92% 17.67B -8.12% 15.52B +20.81% 12.76B
Life Insurance
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