MassMutual Completes Acquisition of Aetna Heiwa Life

The MassMutual Financial Group announced that it had completed the purchase of Japan’s Aetna Heiwa Life Insurance Co. Inc. from Aetna International Inc., a division of Holland’s ING Group, which acquired it from Aetna last December.

MassMutual will own approximately 99 percent of Heiwa at a cost of $20 million, and plans to integrate its operations into its MassMutual International, Inc. subsidiary, which has substantial interests in many Asian countries.

Heiwa is Japan’s 19th largest life insurer with nearly $4.5 billion in assets, 1700 employees and 93 sales offices.