Japan Post Insurance Co., Ltd. , KKR & Co. Inc. (together with its subsidiaries, “KKR”), and Global Atlantic Financial Group announced their entrance into a strategic partnership. Japan Post Insurance will additionally make a material investment in a reinsurance co-investment vehicle sponsored by Global Atlantic.
“We continue to see tremendous opportunities to deploy capital, and Japan Post Insurance’s investment in the co-investment vehicle will allow us to further accelerate the growth of our franchise.”
KKR and Global Atlantic’s collective track records of delivering customized solutions for global life and annuity insurance clients is well-suited to helping advance Japan Post Insurance’s growth strategy. The partnership enables Japan Post Insurance to access KKR and Global Atlantic’s platforms to enhance its growth and diversify its business portfolio into overseas markets.
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“We believe this partnership has great potential for Japan Post Insurance to pursue new growth opportunities and diversify revenue sources. It also enhances our reinsurance strategy and asset-liability management capabilities and we will proceed in a gradual and prudent manner as this is the first international partnership for Japan Post Insurance, which currently does not have any overseas offices,” said Tetsuya Senda, Director and President, CEO, Representative Executive Officer of Japan Post Insurance. “We are very excited to expand our business collaboration with KKR, a leading global investment firm, and Global Atlantic, a leading global life and annuity reinsurance firm, as they are both committed to the Japanese market and trusted partners with whom Japan Post Insurance can develop a mutually beneficial relationship.”
Entering into this partnership with Japan Post Insurance advances KKR and Global Atlantic’s commitment to Japan, as well as their global insurance strategies to deliver both asset management and reinsurance solutions to their insurance clients.
Joe Bae and Scott Nuttall, Co-CEOs of KKR, said, “This is a testament to our continued commitment to expanding our insurance presence alongside high-caliber partners like Japan Post Insurance. We are pleased to enter into this partnership with Japan Post Insurance alongside Global Atlantic to pursue opportunities for growth and collaboration.”
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“We are excited about the confidence placed into the Global Atlantic platform by Japan Post Insurance, a leading life insurance company in Japan. It is another sign of the enhanced value we bring to our global reinsurance clients,” said Allan Levine, Co-Founder, Chairman & CEO of Global Atlantic. “We continue to see tremendous opportunities to deploy capital, and Japan Post Insurance’s investment in the co-investment vehicle will allow us to further accelerate the growth of our franchise.”
Nishimura & Asahi and Willkie Farr & Gallagher LLP served legal advisers to Japan Post Insurance. BofA Securities acted as a financial adviser to Japan Post Insurance.
Debevoise & Plimpton LLP served as legal adviser to KKR and Global Atlantic. SMBC Nikko Securities Inc. served as a financial adviser to KKR and Global Atlantic.
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