Resolution Life, a global life insurance group focusing on reinsurance and the acquisition and management of portfolios of life insurance companies, has announced the successful completion of its inaugural $750 million Bermuda Ancillary Tier 1 notes issuance.<\/p>\n
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The Notes are perpetual and non-callable before May 19th, 2032. This move was a result of \u201cvery strong\u201d investor demand, with the final order book exceeding $7.5 billion, about ten times the oversubscribed amount, according to Resolution Life.<\/p>\n
According to the terms, the initial interest rate will be reset on November 19th, 2032 and every five years thereafter, subject to a floor of 6.875% and certain other conditions.<\/p>\n
Resolution Life intends to use the net proceeds from the offering for general corporate purposes, which may include funding acquisitions, entry into reinsurance arrangements, repayment of indebtedness, working capital, and other business opportunities.<\/p>\n
The issuance follows the firm\u2019s two successful Tier 2 note offerings ($500 million Tier 2 notes issued in July 2024 and $750 million Tier 2 notes<\/a> issued in July 2025) to raise funds.<\/p>\n This marks the first Tier 1 issuance by a Bermudian insurer and further reinforces Resolution Life\u2019s financial flexibility and capital position while broadening its investor base.<\/p>\n The Notes qualify as Tier 1 regulatory capital and have been assigned an instrument rating of Baa3 by Moody\u2019s and BBB by Fitch. An application has been made for the Notes to be admitted to trading on the International Securities Market of the London Stock Exchange.<\/p>\n The transaction also follows the completion of Nippon Life\u2019s acquisition<\/a> of Resolution Life and subsequent upgrades of the firm\u2019s issuer credit ratings by Moody\u2019s to Baa1 (positive outlook) and Fitch to A- (stable outlook).<\/p>\n Jonathan Moss, Chief Financial Officer of Resolution Life, commented, “We were delighted with the overwhelming success of our inaugural Ancillary Tier 1 bond, which also represents the first such transaction from Bermuda in the capital markets. The strong investor reception and support of over 175 investors who participated reflects the strength of our business model and recent deal activity.<\/p>\n “With Nippon Life as a parent, we remain excited by the opportunity in the attractive global life and annuity consolidation market. With strong growth prospects and a robust balance sheet, we remain well-positioned to protect the financial futures of our policyholders. We thank both our new and existing long-term investors for their trust and support in Resolution Life.”<\/p>\n ABN Amro, Bank of America Securities, HSBC, J.P. Morgan, Morgan Stanley, NatWest and Wells Fargo Securities acted as Joint Lead Managers on the transaction.<\/p>\n The post Resolution Life reinforces capital position with $750m Bermuda Ancillary Tier 1 notes issuance<\/a> appeared first on ReinsuranceNe.ws<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Resolution Life, a global life insurance group focusing on reinsurance and the acquisition and management of portfolios of life insurance […]<\/p>\n","protected":false},"author":1,"featured_media":3357,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14],"tags":[],"_links":{"self":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3355"}],"collection":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/comments?post=3355"}],"version-history":[{"count":3,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3355\/revisions"}],"predecessor-version":[{"id":3359,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3355\/revisions\/3359"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/media\/3357"}],"wp:attachment":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/media?parent=3355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/categories?post=3355"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/tags?post=3355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n![\"Ascot](\"http:\/\/www.xinetica.com\/wp-content\/uploads\/2025\/09\/ascot-728x90-sep2025.jpg\")
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