Issuance of $750m Tier 2 notes to Nippon Life

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION TO ANY U.S. PERSON (AS DEFINED IN REGULATIONS UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN OR INTO THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT

HAMILTON, BERMUDA - Resolution Life, a global life insurance group focusing on reinsurance and the acquisition and management of portfolios of life insurance policies, today announces the issuance of $750 million of Tier 2 notes to its parent, Nippon Life.

RLGH Finance Bermuda Ltd issued $750 million of 6.125% Tier 2 notes due 2033 (the "Notes"), which are guaranteed by Resolution Life Group Holdings Ltd. The Notes qualify as Tier 2 regulatory capital. Resolution Life has used the net proceeds from the offering to repay existing senior debt that was due this year.

This debt issuance is the first by Resolution Life to its parent company since it was acquired by Nippon Life in October 2025 and follows three public subordinated debt issuances in the capital markets since 2024. The transaction diversifies Resolution Life's sources of long-term capital, which now includes both public debt capital and borrowings from Nippon Life.

Resolution Life currently intends to maintain access to the public debt markets as part of its long-term funding strategy to deliver on its purpose of partnering to protect financial futures. 

Jeff Davies, Chief Financial Officer of Resolution Life, commented:

"This transaction reflects Nippon Life's confidence in Resolution Life's long-term growth prospects and the important role we play in the Group's strategy. It also underscores the strength of our partnership with Nippon Life. Resolution Life is now able to source funding through both our parent company and the external market, broadening our funding sources, strengthening our capital position and enhancing our capacity to capitalize on a strong pipeline of strategic opportunities."

ENDS

Notes to Editors:

About Resolution Life

Resolution Life is a global life insurance group focusing on reinsurance and the acquisition and management of portfolios of life insurance policies. Part of the Nippon Life group, Japan's largest life insurer, Resolution Life currently manages c.$80bn of assets and has operations in Bermuda, the U.S., the U.K., and Singapore. Since 2003 to date, prior Resolution entities together with Resolution Life have deployed c.$20bn in the global insurance industry and served the needs of c.14m policyholders. Backed by a single, well-capitalised parent, Resolution Life is a safe and reliable partner for insurers. The company is focused on:

www.resolutionlife.com

Contact:

Debt Investor Relations

Colin Ault

[email protected]

Media Inquiries:

Temple Bar Advisory

Alex Child-Villiers / Sam Livingstone / Alistair de Kare-Silver / Juliette Packard

+44 (0)20 7183 1190 / [email protected]

Disclaimer

The distribution of this announcement may be restricted by law and any person into whose possession this press release comes should inform themselves about and observe any restrictions. This announcement is not directed to, and is not intended for distribution to or use by, any person or entity in any jurisdiction where such distribution, publication or use would be contrary to law or regulation or which would require any registration within such jurisdiction. This announcement is not intended to, and does not constitute, or form part of, an offer to sell or an invitation to purchase or subscribe for the Notes, nor shall there by any offer, solicitation or sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the Securities Act).

This announcement does not constitute an offer to sell or a solicitation of an offer to buy securities.

This announcement contains certain forward-looking statements regarding the intent, belief or current expectations of Resolution Life and its management team. Any such forward-looking statements speak only as of the date they are made, are not guarantees of future performance and involve risks and uncertainties. Actual events and results may differ materially from those projected in the forward-looking statements as a result of various factors. Resolution Life does not undertake any obligation to update any forward-looking statements or publicly announce any updates or revisions to any of the forward-looking statements contained herein, to reflect any change in its expectations with regard thereto or any change in events, conditions, circumstances or assumptions underlying such statements, except as required by law.