TOKYO -- Sompo Japan Nipponkoa Insurance's plan to acquire a U.S.-listed peer likely marks the start of a fresh shopping spree by Japanese insurers, with low interest rates, dimming prospects at home and a strong yen providing a big incentive for deals.
The previous wave came last year, kicking off with Tokio Marine & Nichido Fire Insurance's $7.5 billion purchase of U.S.-based HCC Insurance Holdings. Meiji Yasuda Life Insurance, Sumitomo Life Insurance and Mitsui Sumitomo Insurance each struck deals worth billions of dollars.
