Yamato Life To Get Y27.8 Billion In Aid From Indus Safety Net
March 19 2009 - 2:19AM
Dow Jones News
The Life Insurance Policyholders Protection Corp. of Japan said
Thursday that it has decided to provide about Y27.8 billion to
failed insurance firm Yamato Life Insurance Co.
Yamato's administrator said earlier this month that it has made
a pact with U.S. life insurer Prudential Financial Group (PRU) to
sponsor Yamato's rehabilitation and it planed to ask the safety net
corporation for financial needs, some of which the Prudential deal
doesn't cover.
-By Atsuko Fukase, Dow Jones Newswires; 813-5255-2957;
atsuko.fukase@dowjones.com