Nippon Life Acquires Resolution Life in $10.6 Billion Deal

The Japanese insurer strengthens its U.S. market presence by purchasing full ownership of Clive Cowdery’s Bermuda-based life insurance consolidator.

Nippon Life, Japan's largest insurer, is acquiring all remaining shares of Resolution Life for $8.2 billion in cash, valuing the company at $10.6 billion.
Resolution Life, founded by British entrepreneur Sir Clive Cowdery, specializes in managing closed life insurance policies and oversees $385 billion in assets.
The acquisition marks the largest overseas deal by a Japanese insurer and aligns with Nippon Life's strategy to expand internationally due to limited growth opportunities in Japan.
As part of the deal, Nippon Life will merge Resolution Life Australasia with MLC Life to form Acenda, a new primary life insurer in the region.
Cowdery, who has a history of successful insurance ventures, will remain as Chairman and CEO of Resolution Life under Nippon Life’s ownership.