TAL Life group chief executive and managing director Jim Minto has taken a role with the group’s Japanese parent, Dai-ichi Life, which completed an acquisition of TAL (formerly Tower) in 2011.
Mr Minto will take on the role of executive officer of Dai-ichi Life, a role TAL chairman Rob Thomas said recognises the importance of Dai-ichi Life’s Australian operations under TAL, and the role it can potentially play in the success of the group globally.
“Jim’s elevation to executive officer of Dai-ichi Life, one of the biggest life insurance companies in the world, reflects not only on Jim’s business acumen and depth of experience but on the success of the TAL and Dai-ichi Life relationship more broadly,” Mr Thomas said.
“This signals the expectation that TAL will be playing a significantly bigger role in Dai-ichi Life strategy implementation, as the group expands its footprint for future growth. It also recognises the strong and mutually beneficial relationship between the two companies, which has seen TAL double in size since Dai-ichi Life first invested in 2008.”
Mr Minto said TAL Life looks forward to playing a bigger role within the Dai-ichi Life group.
Dai-ichi Life is based in Tokyo and listed on the Tokyo Stock Exchange, with total assets equivalent to US$379 billion (as at 31 March 2013), TAL said in a statement.