LONDON: Resolution Life, a global life insurance group, announces that Nippon Life Insurance Company will acquire 100% of the company for $8.2 billion, valuing it at $10.6 billion. After the acquisition, Resolution Life’s business in the US, UK, Bermuda, and Singapore will become a subsidiary of Nippon Life. Meanwhile, Resolution Life’s Australasian business will merge…
SYDNEY, AUSTRALIA: Suncorp Group Limited (ASX: SUN) has signed a share sale and purchase agreement with Resolution Life to sell its New Zealand life insurance business, Asteron Life Limited. Suncorp’s New Zealand general insurance business remains unchanged and part of the Suncorp Group. The sale of Asteron Life for NZ$410 million includes an upfront payment…
LONDON, UK: Resolution Life Australasia has entered into an agreement with AIA Australia Limited to acquire its Superannuation & Investments business. The acquisition will deliver significant value and scale benefits and will strengthen Resolution Life’s position as the largest life insurer by assets in Australasia. It will increase Resolution Life’s funds under management and administration…