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Resolution Life Australasia Limited's (“RLA”) A3 insurance financial strength rating (“IFSR”) and Baa2 (hyb) subordinated debt rating are on review for upgrade. The review follows the announcement by Nippon Life Insurance Company (Nippon Life, A1 IFSR) on 11 December 2024, that it had reached an agreement to purchase all the remaining shares of the Resolution Life group, thereby becoming the sole owner of the Group. The acquisition is subject to customary regulatory approvals.
The review for upgrade reflects our expectation that Resolution Life and its subsidiaries could benefit from implicit support as part of Nippon Life, should the acquisition be successfully completed. We believe that Resolution Life aligns well with Nippon Life's strategy and provides a platform for it to diversify into international markets, a trend consistent with Japanese insurers acquiring foreign insurers.
Upon completion of the acquisition, RLA will be combined with MLC Life Insurance, Nippon Life's Australian subsidiary, to form a new primary life insurer. This entity will be run as a joint venture between Nippon Life and Resolution Life.
The full update and credit opinion can be found on the Moody's website.
What you need to know
Any advice on this website is provided by Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life), and is general advice and does not take into account your objectives, financial situation or needs. Before acting on this advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs, as well as the relevant product disclosure statement and/or policy document, available from Resolution Life at resolutionlife.com.au or by calling 133 731, before making a decision on whether to acquire, or continue to hold, the product.
The Target Market Determinations (TMDs) for our financial products (where applicable) can be found at Target Market Determinations (TMDs). The TMDs describe the key features and attributes of an applicable product that affect whether it is likely to be consistent with the objectives, financial situation and needs of consumers in the target market.
Resolution Life is part of the Resolution Life Group and can be contacted via contact us or by calling the phone number mentioned above.
