Alternative Investment

Billion dollar investor for Resolution Life – The Royal Gazette

Updated: Jan 31, 2023 09:17 PM

Sir Clive Cowdery, founder and executive chairman of Resolution Life (File photograph)

Nippon Life Insurance Company, the Osaka-based organisation that is the largest Japanese life insurance company by revenue, has agreed to invest an additional commitment of $1 billion in Resolution Life, the Bermudian-regulated global life insurance group.

The commitment follows the recently announced strategic partnership between Resolution Life and Blackstone, the world’s largest alternative asset manager.

In a statement, Resolution Life said Nippon Life believes that the strategic partnership will accelerate the growth and development of Resolution Life.

Since 2019, Nippon Life has been the largest investor in Resolution Life, supporting its growth through eight transactions to a company with $80 billion-plus of reserves and three million policies under management across three international platforms.

Having invested $650 million so far, this additional $1 billion commitment from Nippon Life is expected to bring their cumulative investment to $1.65 billion.

Sir Clive Cowdery, founder and executive chairman of Resolution Life, said: “I am honoured to have the continued partnership of Nippon Life, an institution I admire and respect.

“There is a strong foundation of shared values, clarity of vision and breadth of capabilities across our organisations.”

Gilles Dellaert, global head of Blackstone Insurance Solutions, added: “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.

Resolution Life is a global life insurance group focusing on the acquisition and management of portfolios of life insurance policies.

It has operations in Bermuda, the UK, the US, Australia and New Zealand.

Gilles Dellaert, global head of Blackstone Insurance Solutions (File photograph)

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