Yamato Life plans to resume its insurance operations

Yamato Life, deemed insolvent since October 2008, plans on restarting its insurance operations under the patronage of Gibraltar Life Insurance, a Japanese subsidiary of the American group Prudential Financial.
In line with this reorganization, Gibraltar Life Insurance will disburse 3.2 billion JPY (35.4 million USD) in order to acquire Yamato Life's shares and 6.9 billion JPY (76.3 million USD) to consolidate the Japanese insurer's capital. Yamato Life will be renamed Prudential Financial Japan Life Insurance.