Japan’s Meiji Yasuda Life Insurance Co [MEIJY.UL] said on Friday it has agreed to buy U.S.-based StanCorp Financial Group Inc (SFG.N) for $5 billion, the latest multi-billion deal by acquisitive Japanese insurers. Meiji Yasuda, Japan’s third-largest life insurer by premium revenue, has said previously it was looking for targets in the world’s largest life insurance market to act as an engine for future growth.