KKR Buys Out Japanese Insurance Intermediary
In a significant move, U.S. private equity firm KKR has announced the acquisition of Hoken Minaoshi Hompo Group Inc., a leading Japanese insurance distributor. The deal, which was announced on September 17, 2023, saw KKR acquire the company from Advantage Partners Pte. Ltd., a Japanese private equity company.
Hoken Minaoshi Hompo Group Inc., based in Tokyo, Japan, operates more than 350 outlets across the country and offers insurance products from over 40 companies. The company also provides consultation services for housing loans and nursing care, making it a comprehensive player in the Japanese insurance market.
The identity of the founder or CEO of Hoken Minaoshi Hompo Group Inc. was not provided in the available search results. However, Hirofumi Hirano, CEO of KKR Japan, expressed his excitement about the acquisition, stating that it presents an opportunity for the company to strengthen its platform and better serve customers.
The financial details of the acquisition, including the amount paid, were not disclosed. The acquisition marks a strategic move for KKR, as it continues to expand its presence in the Japanese market.
Advantage Partners Pte. Ltd., the seller of the shares, is a well-known Japanese private equity company. The company's decision to sell its stake in Hoken Minaoshi Hompo Group Inc. is a testament to its confidence in KKR's ability to drive growth and success for the insurance distributor.
As KKR moves forward with its integration of Hoken Minaoshi Hompo Group Inc., it is expected that the company will leverage its extensive resources and expertise to further enhance the services offered by the insurance distributor and provide even better solutions for its customers.
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