Nippon Life to commit further $1bn in Resolution Life

Written by Adam Cadle

25/01/2023

Nippon Life has agreed to invest an additional commitment of $1bn in Resolution Life -a global life and annuity insurance consolidation business – following the recently announced strategic partnership between Resolution Life and Blackstone.

Since 2019, Nippon Life has been the largest investor in Resolution Life, supporting its growth through eight transactions to a company with $80bn of reserves and three million policies under management across three international platforms. Having invested $650m so far, this additional $1bn commitment from Nippon Life is expected to bring its cumulative investment to $1.65bn.

Nippon Life believes that the strategic partnership between Resolution Life and Blackstone will accelerate the growth and development of Resolution Life. Under this partnership, Blackstone has become Resolution Life’s investment manager for certain key areas, including directly originated assets across the private credit, real estate and asset-based-finance markets. Blackstone will manage an initial target of up to $25 billion of Resolution Life’s existing private assets in the first year of the partnership, which is expected to increase to over $60 billion over the next six years.

Gilles Dellaert, global head of Blackstone Insurance Solutions, said: “We thank Nippon Life – a leader in global life insurance – for their partnership as we work with Clive and his team to help drive the continued growth of Resolution Life. We believe Blackstone’s private credit and asset origination capabilities can help deliver increased value to investors and greater financial security to policyholders in the years ahead.”

Nippon Life’s additional investment is subject to regulatory approvals and anticipated to be made in the second half of 2023.

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