PayPay pushes into life insurance with 70.2% T&D Financial Life deal
PayPay plans to buy 70.2% of T&D Financial Life from T&D Holdings for cash, a move LY Corporation says would make the insurer a specified subsidiary. The structure is not a clean buyout: OneIM Indigo is set to buy 14.9%, T&D plans to keep 14.9%, and closing is scheduled for October 1, 2027, subject to approvals, an IFRS transition plan and other conditions. For PayPay, the logic is plain enough: it wants life insurance alongside cards, banking and securities for its more than 74 million registered users.