December 11, 2024
Mayer Brown is providing counsel to Nippon Life Insurance Company (Nippon Life) on its acquisition of Resolution Life, a global life and annuity insurance group. Nippon Life, a major player in the Asia-Pacific region and worldwide, values the transaction at approximately $10.6 billion. Completion of the deal hinges on regulatory approvals and standard closing conditions; the anticipated closing date is in the second half of 2025.
Following the acquisition, Resolution Life’s institutional business in the US, UK, Bermuda, and Singapore will become a subsidiary of Nippon Life. This move will establish a new division that complements Nippon Life’s existing Japanese life business, as well as its international asset management and retail operations. The transaction also encompasses the combination of Resolution Life’s Australasian business with Nippon Life’s Australian company, MLC.
The Mayer Brown team handling this multi-jurisdictional project includes partners and co-leader of the firm’s Global Insurance Industry Group, David Alberts, along with corporate partners Joe Castelluccio and Camila Panama. Mayer Brown boasts a leading global insurance practice, offering advice on varied matters, including corporate strategy, mergers and acquisitions such as public and private company acquisitions and divestitures, reinsurance negotiations, investments, and complex insurance structured finance. They also advise on board matters, corporate governance, and regulatory and litigation issues.
Mayer Brown’s representation of clients spans global markets, including the US, UK, Bermuda, and Japan.
View Nippon Life’s press release here and Resolution Life’s press release here.
