AFLAC Inc., the world's largest seller of supplemental health insurance, may bid for American International Group Inc.'s Alico Japan life insurance unit, Chief Executive Officer Daniel Amos said.
Of the three life insurance businesses AIG is putting up for sale in Japan, AFLAC is most interested in Alico because of the similarity of the products they offer, Amos said Friday. Alico, with ¥1.47 trillion of premium income, is Japan's fifth-largest life insurer.
"We're investigating the possibility of bidding," Amos, 57, said. "Alico has been a competitor of ours for years, and we think Alico has a lot of potential in terms of an acquisition."