Japan Post Insurance, KKR & Co, and Global Atlantic Financial Group, have publicly announced the formation of a strategic partnership. Furthermore, Japan Post Insurance plans to substantiate its investment in a reinsurance co-investment vehicle, pioneered by Global Atlantic.
The intention behind this partnership is to bolster the growth strategy of Japan Post Insurance. By harnessing the collective expertise and proven track records of KKR and Global Atlantic in delivering customised solutions to global life and annuity insurance clients, Japan Post Insurance aims to augment its growth and diversify its business portfolio into international markets.
Japan Post Insurance is a life insurance company operating in Japan, offering an array of life insurance products with an emphasis on individual life insurance such as endowment insurance and whole life insurance. Since its inception in 2007, Japan Post Insurance has served its clients with reliable insurance services.
On the other hand, KKR is a leading global investment firm that provides alternative asset management, capital markets, and insurance solutions. KKR’s insurance subsidiaries, managed by Global Atlantic Financial Group, offer retirement, life and reinsurance products.
In contrast, Global Atlantic Financial Group is a renowned insurance company that caters to the retirement and life insurance needs of individuals and institutions. As a subsidiary of KKR, Global Atlantic utilises KKR’s investment capabilities, scale and access to capital markets to enhance the value it offers to its clients.
Legal and financial advisory services for the partnership were provided by several companies. Nishimura & Asahi and Willkie Farr & Gallagher LLP acted as legal advisers to Japan Post Insurance, with BofA Securities as their financial adviser. Debevoise & Plimpton LLP served as legal adviser to KKR and Global Atlantic, whereas SMBC Nikko Securities Inc. provided their financial advisory services.
In a statement about the partnership, Japan Post Insurance director and president, CEO, representative executive officer Tetsuya Senda said, “We believe this partnership has great potential for Japan Post Insurance to pursue new growth opportunities and diversify revenue sources.” Similarly, Joe Bae and Scott Nuttall, co-CEOs of KKR, expressed their commitment to expanding their insurance presence alongside high-caliber partners like Japan Post Insurance. Allan Levine, co-founder, chairman & CEO of Global Atlantic, also conveyed his excitement about the confidence Japan Post Insurance has shown in the Global Atlantic platform.
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