Daido Life Insurance Company sells its 14.99% stake in NÜRNBERGER Beteiligungs-AG to Vienna Insurance Group as part of a strategic acquisition aimed at enhancing market presence in Germany.

Target Information

The Daido Life Insurance Company, a subsidiary of T&D Holdings Inc., is one of Japan's largest insurance firms, employing over 20,000 individuals. With a premium volume of approximately 4.7 billion euros for the fiscal year 2024/25, Daido has established itself as a significant player in the Japanese life insurance market. After maintaining a strategic partnership lasting more than a decade, Daido initiated the sale of its 14.99% stake in the publicly traded NÜRNBERGER Beteiligungs-AG as part of a public takeover offer by Vienna Insurance Group (VIG).

Vienna Insurance Group, listed on the stock exchange, is the leading insurance group in Central and Eastern Europe. It operates more than 50 insurance and pension companies across 30 countries, implementing a decentralized structure, a multi-brand strategy, and a multi-channel distribution approach. In the 2024 fiscal year, VIG reported gross premiums of €15.2 billion and a pre-tax profit of €881.8 million, with a market capitalization of approximately €5.75 billion.

Industry Overview

The German insurance market is significantly competitive, with numerous local and international players vying for market share. Life insurance remains a predominant segment, driven by increasing consumer awareness regarding financial security and ret