Nippon Life eyes $8.2b Resolution Life buyout

If finalised, the deal would be the largest overseas acquisition by a Japanese insurer.

Nippon Life Insurance is nearing the completion of a potential $8.2b acquisition of Bermuda-based Resolution Life Group Holdings, according to Resolution Life, reported Reuters.

If finalised, the deal would be the largest overseas acquisition by a Japanese insurer and underscores Japanese insurers’ pursuit of growth in foreign markets, particularly the United States.

The Nikkei business daily first reported the planned transaction, noting Nippon Life’s intention to buy out the remaining shares in Resolution Life from Blackstone and other stakeholders, making it a wholly owned subsidiary by the second half of 2025. 

The purchase will reportedly be funded using Nippon Life’s cash reserves.
whilst confirming ongoing discussions, Resolution Life stated that no agreement had been finalised and the outcome remained uncertain. 

Nippon Life also acknowledged the talks but refrained from providing specific details. Blackstone declined to comment on the report.

This acquisition marks Nippon Life’s second major overseas investment in 2024, following its $3.8b purchase of a 20% stake in US insurer Corebridge Financial in May.