Resolution Life has been purchased by Nippon Life in a global transaction worth USD$D8.2bn, subject to regulatory approval
Resolution Life is currently in the closing stages of its acquisition of Asteron Life, which will continue as a standalone life insurance company trading under the Asteron Life brand.
Both Resolution Life’s Australian and New Zealand subsidiaries, Resolution Life Australasia, will combine with Nippon Life to form a merged group that will – states the firm – create one of Australasia’s largest life insurers by market share.
Following completion, the combined group will operate as Acenda, and will be wholly-owned and part of the Nippon Life group.
The transaction is set to be completed in the second half of the 2025 calendar year…
The transaction is set to be completed in the second half of the 2025 calendar year, subject to regulatory approvals.
Tim Tez, CEO Resolution Life Australasia, says: “Resolution Life Australasia has experienced significant growth as a life insurance specialist in the Australian and New Zealand markets and we have a strong track record of executing and integrating complex life insurance transactions.
“As we combine Resolution Life Australasia and MLC Life Insurance, our priority will be our policyholders, people, and partners. All integration efforts will be carefully designed to prioritise a smooth customer experience.”
…our priority will be our policyholders, people, and partners
MLC Life Insurance in Australia will begin adopting the Acenda brand immediately, and Resolution Life Australasia will transition to Acenda after the transaction’s completion. Until completion the two businesses will continue to operate separately.
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