{"id":159997,"date":"2023-06-08T08:00:00","date_gmt":"2023-06-08T00:00:00","guid":{"rendered":"https:\/\/www.mediaintel.asia\/?p=919495"},"modified":"2023-06-08T08:00:00","modified_gmt":"2023-06-08T00:00:00","slug":"tokio-marine-taps-goldman-jefferies-to-sell-1bln-southeast-asia-life-insurance-unit-sources","status":"publish","type":"post","link":"https:\/\/www.chinalegalblog.com\/en\/2023\/06\/08\/tokio-marine-taps-goldman-jefferies-to-sell-1bln-southeast-asia-life-insurance-unit-sources\/","title":{"rendered":"Tokio Marine taps Goldman, Jefferies to sell $1bln Southeast Asia life insurance unit-sources"},"content":{"rendered":"<div align=\"center\"><a href=\"https:\/\/www.mediaintel.asia\/\" title=\"MediaIntel.Asia provides Media Intelligence and Media Monitoring in Asia\" ><img src=\"https:\/\/www.mediaintel.asia\/wp-content\/uploads\/mediaintelasia-logo-blackyellow-400x300-1.png\" border=\"0\" width=\"200\" height=\"150\" alt=\"MediaIntel.Asia\"><\/a><\/div>\n<p>SINGAPORE\/HONG KONG, June 8 (Reuters) - Japanese insurer Tokio Marine Holdings (8766.T) has picked Goldman Sachs (GS.N) and Jefferies (JEF.N) to work on the sale of its Southeast Asia life insurance business worth $1 billion, two sources with knowledge of the transaction said.<br \/>\nThe Tokyo-listed company is preparing to launch a sale process within the next two months, according to one of the sources, declining to be identified as the matter is private.<br \/>\nA sale could include Tokio Marine's life insurance businesses in Indonesia, Malaysia, Singapore and Thailand, said the other source.<br \/>\nThe sale plan is still under discussion and has not been finalized, the first source cautioned.<br \/>\nTokio Marine, Goldman Sachs and Jefferies declined to comment.<br \/>\nThe sale plan comes as Tokio Marine reviews its businesses to boost profitability. The Tokyo-headquartered insurer has been active in the merger and acquisition space, with deals including the sale of its Tokio Marine Highland's U.S. construction division to Intact Insurance Group last year.<br \/>\nThe company is also looking to grow organically. It expanded in Canada with the launch of a new property and casualty insurance unit last year.<br \/>\nFounded in 1879, Tokio Marine was Japan's first non-life insurance company and it started expanding overseas through direct underwriting operations in London, Paris and New York a year later, according to its website.<br \/>\nIt now provides non-life and life insurance across 46 countries besides Japan. International businesses contributed 54% of its profits, its website shows.<br \/>\nShares of Tokio Marine have climbed 12.6% year-to-date, giving it a market value of $45.5 billion as of Thursday, according to Refinitiv data.<br \/>\nOur Standards: The Thomson Reuters Trust Principles.<\/p>\n<p>This data comes from <a href=\"https:\/\/www.mediaintel.asia\/\" title=\"MediaIntel.Asia provides Media Intelligence and Media Monitoring in Asia\" >MediaIntel.Asia's Media Intelligence and Media Monitoring Platform<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SINGAPORE\/HONG KONG, June 8 (Reuters) &#8211; Japanese insurer Tokio Marine Holdings (8766.T) has picked Goldman Sachs (GS.N) and Jefferies (JEF.N) to work on the sale of its Southeast Asia life insurance business worth $1 billion, two sources with knowledg&#8230;<\/p>\n","protected":false},"author":253,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[669,692,339,115,693,785,194,100],"tags":[2762,4441,2214,5099,2370,10315,8694,1859,1745,8820],"class_list":["post-159997","post","type-post","status-publish","format-standard","hentry","category-bank","category-canada","category-hong-kong","category-insurance","category-japan","category-new-york","category-news-chinese-law","category-website","tag-acquisition","tag-goldman-sachs","tag-indonesia","tag-london","tag-malaysia","tag-media-intelligence","tag-paris","tag-singapore","tag-thailand","tag-tokyo"],"_links":{"self":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/159997"}],"collection":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/users\/253"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/comments?post=159997"}],"version-history":[{"count":2,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/159997\/revisions"}],"predecessor-version":[{"id":160000,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/159997\/revisions\/160000"}],"wp:attachment":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/media?parent=159997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/categories?post=159997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/tags?post=159997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}