Nippon Life in talks to acquire Resolution Life

According to reports, Japanese insurer Nippon Life is in talks to buy global life insurance company Resolution Life for about $8.2 billion.

In a statement to the London Stock Exchange, Resolution Life confirmed the reports about a possible deal: “The Board of RLGH Finance Bermuda Ltd (the “Company”) announces that Resolution Life, a global life insurance group focusing on the acquisition and ongoing management of portfolios of life insurance policies, notes the recent media speculation regarding its acquisition by Nippon Life. Resolution Life confirms that it is in final stages of discussions with Nippon Life regarding such a potential acquisition, which has not been concluded. There can be no certainty, that any transaction will proceed and the Company will make further announcements when appropriate.”

Founded in 2003, Resolution Life provides reinsurance and acquires in-force portfolios of life and annuity policies from established life insurers. Over the past two decades, the company and previous vehicles founded by Clive Cowdery under the Resolution brand have deployed more than $18 billion of equity in the acquisition, reinsurance, consolidation and management of life insurance companies.

The acquisition would mark Nippon Life’s second major overseas investment this year, following its $3.8 billion purchase of a 20% stake in Corebridge Financial.