Entering AEON Life Insurance Business Allianz Life Insurance becomes a subsidiary Feb. 21 21:05
Aeon, a major retailer, will enter the life insurance business. AEON Financial Services, which is in charge of the Group's financial business, will make German insurance major Allianz Life Insurance a subsidiary.
According to the announcement, AEON Financial Services will subscribe to a new issue of Allianz Life Insurance for 3.6 billion yen, owning a 60% stake, and making it a subsidiary by the end of next month.
AEON Financial Service has provided products of multiple insurance companies as agents at credit card and banking businesses and at 115 shopping centers nationwide.
This time, Allianz Life Insurance will become a subsidiary to sell its own life insurance and strengthen its financial business.
The first step is to develop a health promotion type of life insurance, where premiums are discounted if you are conscious of your health by exercising or undergoing medical examinations.
On the other hand, Allianz of Germany started life insurance business in Japan in April 2008, but sales were sluggish and discontinued sales of new insurance from January 2012, and now about 20,000 existing insurance We manage contracts.