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Integrity sells stake to Japanese insurer

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Japan’s Daido Life has acquired a 14.9% stake in Integrity Life for $13 million.

The two companies also agreed to work closely in a number of areas, including products and strategy, systems and personnel exchanges.

“This is a key milestone for Integrity Life as we build an offering that brings greater integrity to life insurance,” CEO Chris Powell said. “We look forward to a long-term, mutually-beneficial relationship with Daido Life.”