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Dai-ichi Life Insurance transfers domestic life insurance biz into new entity

Dai-ichi Life InsuranceCo. Ltd. said April 8 that its board approved plans to transfer itsdomestic life insurance business into a newly created entity in preparation forits transition into aholding company.

Dai-ichi Life Split Preparation Co. Ltd., which was incorporatedApril 1, will hold the company's life insurance business in Japan and will be calledDai-ichi Life Insurance Co. Ltd. once the group completes the transition Oct. 1.

The current Dai-ichi Life Insurance will then be called Dai-ichiLife Holdings Inc.