JAL partners with Lifenet Insurance to strengthen its insurance business, leveraging its miles base

Japan Airlines has formed a capital and business alliance with Lifenet Insurance to expand into financial services.

JAL will acquire au Financial Holdings’ 18.32% stake in Lifenet, strengthening the partnership.

The two companies plan to develop joint insurance products and sell them through JAL channels, including to JAL Mileage Bank customers.

The deal gives JAL a new non-airline growth area and gives Lifenet broader distribution reach.