Nippon Life intends to commit up to $3.25bn to TCW private credit strategies in order to expand the asset manager’s business and to strengthen the insurer’s investment capabilities.
Furthermore, Nippon Life has decided to invest in a convertible note and preferred security issued by TCW through Nippon Life Americas.
TCW, an asset management company with strengths in US fixed income investments, has been contributing to the improvement of the investment return of Nippon Life’s group’s insurance products by utilising its advanced investment skills.
Nippon Life said it “will continue to improve investment return on insurance products by acquiring and utilising the advanced investment skills of each of its group asset management companies, thereby contributing to policyholder interests”.