WASHINGTON (dpa-AFX) - Prudential Financial Inc. (PRU) and Dai-ichi Life Holdings said that they plan to pursue a strategic partnership focused on product distribution and asset management capabilities.
The partnership includes a product distribution agreement in Japan, where Prudential would designate Dai-ichi's wholly owned subsidiary, The Neo First Life Insurance Company, Ltd., as an exclusive product partner. This arrangement entails distributing certain Neo First life insurance products through Prudential's Life Planner sales channel.
Additionally, PGIM, Prudential's global investment manager, plans to provide asset management services to Dai-ichi Life Holdings' subsidiaries through its PGIM Multi-Asset Solutions (PMA) business. These services would encompass the management of asset classes, including structured products and private credit.
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