|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Business & Economy (Click here for more)

Japanese E-Commerce Giant Rakuten Makes a Foray into General Insurance Sector

TOKYO – Japanese e-commerce giant Rakuten announced on Monday that it is planning to enter the general insurance sector with the acquisition of Asahi Fire & Marine Insurance Co. Ltd, owned by the Nomura financial group.

In a statement, the company said “at the meeting of its Board of Directors held today, it resolved to acquire all of the Common Stock and Class Stock of the Asahi Fire & Marine Insurance Co. Ltd.”

In its statement, Nomura Holdings Inc. said it had reached an agreement with Rakuten for the Asahi Fire and Marine Insurance Co. Ltd.

Rakuten said that the anticipated value of the acquired shares would come to 40-50 billion yen ($370-$460 million).

With the purchase of Asahi Fire & Marine Insurance Co. Ltd, which Rakuten plans to make into a wholly-owned subsidiary, the Japanese e-commerce giant will make an entry into the nonlife insurance sector.

In 2013, Rakuten expanded into the life insurance sector with the acquisition of AIRIO Life Insurance Co. Ltd, which subsequently changed its name to Rakuten Life Insurance.

The purchase is part of the diversification and expansion strategy of Rakuten, which has already announced its entry into sectors as diverse as the home-sharing business, the online grocery business and the drone delivery service, which is still in the trial phase.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2018 © All rights reserved