The partnership aims to support embedded and on-demand products distributed via platform partners, using modular cover configured for different markets.
Korea led the region’s softening with a 17% composite rate drop, while Taiwan and Hong Kong SAR also posted double-digit declines, according to Marsh data.
The deal will combine the groups’ international platforms into an enlarged network spanning more than 130 countries and managing over US$3.5bn in premiums.
The firm's new CEO, Hiromitsu Tokumaru, said it would overhaul its life planner model and pay structure to curb aggressive sales pressures following the fraud scandal.
