Resolution Life draws strong investor interest for $750m

Global life insurer Resolution Life has completed a $750 million Tier 2 debt issuance, attracting strong investor interest with a peak order book topping $3.25 billion.

RLGH Finance Bermuda issued $750 million of 6.75% Tier 2 notes due 2035, which are guaranteed by Resolution Life Group Holdings.

The Notes qualify as Tier 2 regulatory capital and have been assigned an instrument rating of Baa3 by Moody’s and BB+ by Fitch. Application has been made for the Notes to be admitted to trading on the International Securities Market of the London Stock Exchange. 

The issuance of the Notes following Resolution’s Life inaugural subordinated debt issue in 2024 represents an important step in the company’s strategic development in its capital position. Resolution Life intends to use the net proceeds from the offering to repay existing debt and for general corporate purposes.

Jonathan Moss (pictured), chief financial officer, (pictured) said: “The positive reception reflects the strength of our business model to capitalise on the opportunities in the attractive global life and annuity consolidation market. Following the announcement of our acquisition by Nippon Life, we are excited by our growth prospects and robust balance sheet and remain well positioned to protect the financial futures of our policyholders. Going forward, we intend to be a periodic issuer in the international debt markets.”

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