Legal & General Investment Management (LGIM), which launched a business in Asia Pacific in 2012, has signed a co-operation agreement with the third largest insurance company in Japan.
Meiji Yasuda Life Insurance Company and its subsidiary, Meiji Yasuda Asset Management Company, will use LGIM’s global fixed income service to create products primarily for Japanese public and corporate pension funds.
The deal is a success for Legal & General Investment Management Asia, which was established in 2012 and provides
investment services and solutions to sovereign wealth funds, pension funds and insurance companies across the region.
The alliance with Meiji Yasuda is LGIM’s first in the Japanese market.
Mark Zinkula, chief executive of LGIM says: “As we continue building our global asset management business, Japan is a key part of our strategy.”
Toshihiko Yamashita, senior managing executive officer of the insurer, says: “We aim to grow the asset management business of both groups by actively marketing LGIM’s excellent products and services in the Japanese market through Meiji Yasuda Asset Management.”
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