This partnership helps solidify Resolution Life’s position as a leader in the multi-trillion-dollar global life and annuity consolidation market by combining Resolution Life’s global liability management platforms and Blackstone’s insurance asset management capabilities.
The enhanced capital base will help Resolution Life to rapidly scale its growth path in a highly active acquisition market – continuing its mission of being a global custodian to life insurance and annuity policyholders. Resolution Life remains Group regulated by the Bermuda Monetary Authority with a strong group capital position, high solvency ratios and investment grade ratings. Resolution Life will continue to be overseen by its Board of Directors, led by Founder Sir Clive Cowdery as Executive Chairman and CEO.
Blackstone will now serve as the General Partner for all new investors as well as existing Resolution Life investors who rolled their commitments. New capital came from a range of global investors and includes a US$500 million strategic investment from Blackstone as well as an additional over US$1 billion investment from Nippon Life and other existing Resolution Life investors. The US$3 billion in new equity raised brings the company’s overall equity capital base to approximately US$8 billion.
Conyers insurance director Chris Garrod led the transaction, with support from director Robert Alexander and associate Jessica Harris.