Nippon Life to invest up to $1bn more in insurance consolidator

Japanese insurer taps Resolution Life's expertise in closed-book policy management

Nippon Life insurance, also known as Nissay, sees Resolution Life as an additional foothold in developed markets like the U.S. © Reuters

SATOSHI TEZUKA, Nikkei staff writer

January 25, 2023 04:24 JST

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.