Global investment firm KKR said on Tuesday it has acquired Hoken Minaoshi Hompo Group, a Japanese insurance distributor, from private equity sponsor Advantage Partners, marking its latest deal in Japan’s financial services sector.
The investment, made mainly through KKR’s Asian Fund IV and K-Series, will support Hoken Minaoshi Hompo’s growth strategy, including sales enablement and bolt-on acquisitions, the firm said in a statement. Financial terms were not disclosed.
Hoken Minaoshi Hompo operates about 350 in-store service locations across Japan under its flagship brand and provides access to more than 40 insurance companies. Its omnichannel platform also offers consultations via call centers, online, home visits and telephone.
“Hoken Minaoshi Hompo Group has established itself as a trusted partner to customers and insurers in Japan,” said Hiro Hirano, Deputy Executive Chairman of KKR Asia Pacific and CEO of KKR Japan. “We see significant opportunities for the company to strengthen its platform and better serve the diverse needs of customers.”
Tomoki Usui, CEO of Hoken Minaoshi Hompo Group, said the company was “delighted to welcome KKR as our new investor,” citing its global insurance experience and track record of supporting Japanese businesses.
The deal adds to KKR’s insurance-related investments worldwide, including its insurance arm Global Atlantic, as well as Ascend Asia, USI Insurance Services in the United States, APRIL in France and Söderberg & Partners in the Nordics. In Japan, KKR’s portfolio includes system integrator FUJI SOFT, logistics firm LOGISTEED and accounting software provider Yayoi.
Business News Asia
