If the deal goes ahead, it will be the largest ever foreign acquisition by a Japanese insurer
Nippon Life Insurance is in the final stages of buyout talks with U.S. life insurer Resolution Life Group Holdings, Resolution said on Tuesday, in what would reportedly be a $8.2-billion deal that highlights Japanese insurers’ hunt for growth in the world’s biggest economy.
The deal is the latest example of heavyweight Japanese insurance companies going abroad in search of acquisitions in faster-growing markets, given the limited chance for expansion at home where the population is shrinking and aging. Blackstone declined to comment on the Nikkei report The acquisition would mark Nippon Life’s second major overseas investment this year, following its $3.8-billion purchase of a 20 per cent stake in U.S. insurance firm Corebridge Financial in May.
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