This acquisition will help Australia boost Dai-ichi's net income attributable to overseas businesses from 3% to 9%. As Japan's market has mostly stagnated, Dai-ichi has chosen to expand in Australia where the market in Australia is growing by about 10% per annum. The company aims to use the Australian group's management experience in developing its own overseas businesses. The return on equity from Tower Australia is 11.4%, which is higher than Dai-ichi Life's return on equity of 7.8%.
Dai-ichi has been targeting overseas life assurance businesses and individual savings product businesses as the most promising growth areas.
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