Japan Post Insurance in strategic partnership with Global Atlantic

Japan Post Insurance, KKR and Global Atlantic Financial Group last week announced a strategic partnership.

Japan Post Insurance will also make a material investment in a reinsurance co-investment vehicle sponsored by Global Atlantic, which sis owned by Bermuda-based Global Atlantic Financial.

A statement said KKR and Global Atlantic’s collective track records of delivering customised solutions for global life and annuity insurance clients was 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.

“We believe this partnership has great potential for Japan Post Insurance to pursue new growth opportunities and diversify revenue sources," said Tetsuya Senda, director and president, CEO, representative executive officer of Japan Post Insurance.

"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.”