TOKYO (Reuters) – Nippon Life Insurance (NS:) will buy U.S. life insurer Resolution Life Group Holdings for about $8.2 billion in what would be the biggest acquisition ever by a Japanese insurer, reported on Tuesday.
Nippon Life will purchase the shares it does not already own in Resolution Life from Blackstone (NYSE:) and others to make it a wholly owned subsidiary in the second half of 2025. It will pay for the acquisition with cash on hand.
A spokesperson for Nippon Life said the company was in talks with Resolution Life, but added it could not disclose what the discussions were about.
