Top 10 global life insurance company The Dai-ichi Life Insurance Company, Ltd, has appointed the head of its Australian business, TAL Life Insurance Group CEO and Managing Director Jim Minto, to the position of Executive Officer of Dai-ichi Life.
Dai-ichi Life made the announcement late yesterday in Japan.
TAL Chairman Rob Thomas said the appointment recognises the importance of Dai-ichi Life’s Australian operation TAL and the role it can play potentially in the success of the global group, which has major interests across Asia, Europe and Northern America.
“Jim’s elevation to Executive Officer of Dai-ichi Life, one of the biggest life insurance companies in the world reflects not only on Jim’s business acumen and depth of experience, but on the success of the TAL and Dai-ichi Life relationship more broadly,” Mr Thomas said.
“This signals the expectation that TAL will be playing a significantly bigger role in Dai-ichi Life strategy implementation as the group expands its footprint for future growth. It also recognises the strong and mutually beneficial relationship between the two companies which has seen TAL double in size since Dai-ichi Life first invested in 2008.”
Mr Minto said: “I am delighted to be involved with Dai-ichi Life at the Executive Management Board level to help ensure the future success of Dai-ichi Life and TAL. We want to further build on the successful relationship we have developed since 2008, which has resulted in benefits not only to Dai-ichi Life but also to TAL customers, business partners and our employees.”
“TAL Life looks forward to playing an even bigger role within the Dai-ichi Life group as we strive to provide our customers with life insurance solutions that give them peace of mind through financial protection of what they have created in their lives already and for the future they dream of.”
TAL’s parent company, Dai-ichi Life Insurance Company Limited, was established in 1902 and was Japan’s first mutual life insurance company.
Based in Tokyo and now listed on the Tokyo Stock Exchange, Dai-ichi Life is one of the world’s largest life insurance companies with total assets of US$379 billion (as at 31 March 2013). Last year it paid US$29 billion in benefits and claims.
When TAL was listed on the Australian Stock Exchange (then as TOWER Australia), Dai-ichi Life had acquired a significant shareholding before in 2010 making a takeover offer for the company which in 2011 then became a whole owned subsidiary of the Japanese company.
