Resolution Life Group Holdings LP, a long-term manager of legacy life insurance portfolios, has today announced the completion of its latest capital raise.
After the finalisation of its most recent capital raise, Resolution Life has secured commitments of more than USD 3 billion since September 2018.
The company notes that the capital raised will continue to be deployed in line with its mission as a long-term manager of legacy life insurance portfolios globally, through acquisition of companies or via reinsurance.
The company’s investor base includes financial institutions, insurance companies, pension plans, sovereign wealth funds, and family offices. Resolution Life explains that a number of its investors have joined its board: JPMorgan Chase, KKR & Co. Inc., Nippon Life Insurance Company, Temasek, The Universities Superannuation Scheme, and a Middle Eastern sovereign wealth fund.
Since its establishment last year, Resolution Life has completed a USD 5.7 billion reinsurance transaction with Symetra Life Insurance Company, and has also agreed the USD 2.3 billion acquisition of AMP’s Life business in Australia.
Resolution Life’s Executive Chairman, Sir Clive Cowdery, said: “Over the past 16 years Resolution entities have served the needs of the life insurance industry globally. Resolution Life will continue to grow and release trapped capital and stranded costs for life insurers across a number of markets. I am delighted to welcome our cornerstone investors onto our Board.”
