Resolution Life, a global life insurance group specialising in reinsurance and managing life insurance portfolios, has confirmed the completion of its acquisition by Nippon Life Insurance Company, a major Japanese life insurer.
This follows Nippon Life’s announcement in December 2024, confirming its agreement to acquire the remaining shares of Resolution Life for $8.2 billion, consolidating its full ownership interest in the company.
As part of the deal, Resolution Life’s Australasian business will be merged with Nippon Life Insurance Australia and New Zealand Limited, forming a new entity known as the Acenda Group.
Acenda will operate as a primary life insurer and be open to new business, functioning as a joint venture between Nippon Life and Resolution Life.
Despite the acquisition, Resolution Life will continue to operate under the leadership of its current Chairman and CEO, Sir Clive Cowdery, and President, Moses Ojeisekhoba. Three new directors have been appointed to the board: Moses Ojeisekhoba, Betsy Ward, and Shinsuke Hashizume.
As part of the restructuring, three directors from Blackstone—Gilles Dellaert, Michael Hovey, and Ida Hoghooghi—have resigned from the Board.