British Insurer Legal & General to Launch Japan Operation-CEO
British’s third-largest insurer, Legal & General (LGEN.L), is launching an operation in Japan to offer company pension scheme insurance and investment management, Chief Executive Nigel Wilson said on Thursday.
The move by L&G comes as European peers such as Allianz (ALVG.DE) and Aviva (AV.L) have scaled back from other Asian markets such as Taiwan.
The $21 billion (16.09 billion pounds) company, which manages 1 trillion pounds in assets in its fund arm, has sold a number of its European businesses in recent years to focus on operations in Britain and increasingly in the United States.
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