The duo will establish a "strategic partnership" and Meiji Yasuda may snap up a stake in L&G. In addition ... "Cost control, self-help measures, higher asset utilisation and lower raw material ...

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Meiji Yasuda has also agreed to take an estimated 5 per cent stake in L&G and gain a 20 per cent economic interest in the firm's US pension risk transfer arm as part of a new strategic partnership.