TOKYO -- Nippon Life Insurance will invest up to an additional $1 billion in Resolution Life Group Holdings, which acquires and manages existing life insurance portfolios in the U.S. and Australia, under plans announced Tuesday.
The transaction will be made through an investment fund as early as autumn. Nippon Life's total investment in Resolution Life stands to increase to $1.65 billion, and its stake to 20%. Resolution Life will become an equity-method affiliate of Nippon Life.
