Insurer M&G jumps on partnership deal with Japan's Dai-Ichi Life

Daiichi Life

30/05/2025 08:24

** Shares of British insurer and asset manager M&G PLC MNG.L rise as much as 8.6%, hitting a near four-year high of 243.6p

** Stock top gainer in the FTSE 100 .FTSE index, which is up 0.43%

** Co to become preferred asset management partner for Dai-Ichi Life Holdings 8750.T in Europe

** Dai-ichi Life to acquire 15% shareholding in MNG; retains right to nominate director to company's board as long as it holds at least 15% stake

** Partnership expected to deliver at least $6 billion of new business flows for MNG and $2 billion for Dai-ichi Life over next five years

* Dai-ichi Life HD to also consider distributing M&G products in Japan and Asia

** Up to Thursday's close, stock had risen 13.4% this year

 (Reporting by Raechel Thankam Job)

 ((RaechelThankam.Job@thomsonreuters.com))