Nippon Life Insurance Co. said Thursday it has agreed to invest $500 million into Prudential Financial Inc., the second time it has put capital into the second-largest U.S. life insurer.
Nippon Life, Japan's biggest life insurer, said it will acquire 10-year surplus notes that can be exchanged for common stock after five years.
The purchase is planned to be completed Friday, according to Nippon Life.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.