Nippon Life completes acquisition of Resolution Life

Resolution Life, a global life insurance group focused on reinsurance and managing life insurance portfolios, has confirmed the completion of its acquisition by Nippon Life Insurance Company, a Japanese life insurer.

by acquiring the remaining shares from the firm’s investment limited partnership for $8.2 billion.

Resolution Life’s Australasian business will be combined with Nippon Life Insurance Australia and New Zealand Limited to form the Acenda Group.

Acenda is a new primary life insurer open to new business and will operate as a joint venture between Nippon Life and Resolution Life.

Resolution Life and its Board will continue under the leadership of Sir Clive Cowdery as Chairman and CEO and Moses Ojeisekhoba as President.

Three new directors have been appointed to the Board: Moses Ojeisekhoba, Betsy Ward, and Shinsuke Hashizume. As part of the transaction, Gilles Dellaert, Michael Hovey, and Ida Hoghooghi from Blackstone have resigned from the Board.