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TOKYO -- Japan's Meiji Yasuda Life Insurance will acquire American Heritage Life Insurance for roughly $2 billion, Nikkei has learned, looking to expand the group policy business in the growing U.S. market.
Meiji Yasuda will buy all American Heritage shares from parent Allstate, the U.S. insurance heavyweight. The transaction will be done through Meiji Yasuda's U.S. subsidiary StanCorp Financial Group.
