AM Best Comments on Credit Ratings of Nippon Life Insurance Company Following Announced Acquisition of Resolution Life Group Holdings Ltd.

HONG KONG, Dec 17 (Bernama) -- AM Best has commented that the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of Nippon Life Insurance Company (Nissay) (Japan) remain unchanged following the announcement of the acquisition of Resolution Life Group Holdings Ltd. (Resolution Life) on 11 December 2024.

Nissay has entered into an agreement to acquire full ownership of Resolution Life, a global insurance group specialising in the acquisition and management of life insurance portfolios, which mainly operates in the United States, Australia and Bermuda. The transaction will consolidate Nissay’s existing equity interest in Resolution Life, resulting in a wholly owned subsidiary. The total consideration for this acquisition is expected to be approximately USD 8.2 billion (JPY 1.2 trillion). The transaction is subject to customary closing conditions, including required regulatory approvals, and is expected to close in the second half of 2025.