Herbert Smith Freehills Kramer advises Resolution Life on the successful completion of its sale to Nippon Life

Herbert Smith Freehills Kramer (HSF Kramer) has advised Resolution Life on its sale to Japanese life insurer, Nippon Life.

This significant cross-border transaction has resulted in the combination of Resolution Life’s Australasian business with Nippon Life Insurance Australia and New Zealand Limited (formerly MLC Life) to establish the Acenda Group, which will be run as a joint venture between Nippon Life and Resolution Life.

The Acenda Group is now one of the largest life insurance businesses in Australia and New Zealand, backed by the global strength of Nippon Life.

The HSF Kramer transaction team was led by financial services partner, Tamanna Islam and corporate M&A partner, Matthew FitzGerald, who were supported by financial services partner, Michael Vrisakis, senior associate, Crusoe Flynn-Pittar and solicitor, Nicholas Horwood. Competition, regulation and trade partner, Patrick Gay and senior associate, Tom Allen, advised on competition aspects of the transaction.

Partner Tamanna Islam commented, “We congratulate Resolution Life on this milestone and have been privileged to have the opportunity to advise on this landmark transaction. Working in close partnership with the Resolution Life team throughout the process has been immensely rewarding given the scale and complexity of the transaction, and we are delighted to see this transformative deal reach a successful conclusion.”