A new entity, Acenda Group, has emerged in the Asia-Pacific insurance market following the completion of Nippon Life’s acquisition of Resolution Life Group.
The transaction, finalised on Oct. 31, consolidates three established life insurance businesses:
This move positions Acenda Group among the largest life insurers operating in Australia and New Zealand, with the backing of Nippon Life’s international resources.
The combined group is now open to new business and is prioritising expansion and the delivery of insurance solutions to customers, advisers, and partners across the region.
Acenda Group’s strategy involves leveraging the strengths and experience of its constituent companies to enhance offerings in wealth protection and retirement products.
Nippon Life president Satoshi Asahi commented on the strategic significance of the acquisition.
“The acquisition reaffirms our enduring commitment to the Australian and New Zealand life insurance sector and our drive to deliver greater value in protection and retirement. We will strive to make the Acenda Group a leader in the local markets, focused on long-term growth and delivering trusted protection and security to more people,” he said.
Resolution Life chairman and CEO Sir Clive Cowdery noted the opportunity created by combining the two organisations.
“Our strong foundation of shared values, clarity of vision, and breadth of capabilities will enable the Acenda Group to play a critical role in driving innovative service and solutions for our customers at this critical juncture for the industry in Australia and New Zealand,” he said.
Chris de Bruin, who will lead Acenda Group as group CEO, emphasised the importance of stability during the transition.
“As a combined group, we are a stronger, growth-focused business, with the scale and stability to meet the evolving needs of our customers. Our proud legacy and customer-oriented approach remains our foundation. We are focused on delivering on our promises to customers during the transition with no change to customer policies or their ability to make a claim,” he said.
The integration process for the three businesses will be phased to maintain continuity for policyholders, advisers, and partners.
During this period, Acenda Group will continue to operate under the Acenda and Resolution Life brands in Australia, and under the Asteron Life and Resolution Life brands in New Zealand.
The group has assured stakeholders that existing policies and claims processes will remain unchanged throughout the transition.
Acenda Group announced in July the appointments of Yvonne Le Bas as group chief financial officer and Karen Malzard as group chief risk officer.
The leadership team also includes Chris de Bruin as group CEO and Craig Dunn as board chair, supported by a team of independent non-executive directors.
Dunn commented on the leadership structure: “Yvonne and Karen, alongside group CEO Chris de Bruin, bring deep expertise and strong leadership capabilities to Acenda. I have great confidence in their ability to lead the business with integrity and a commitment to our customers and partners across Australia and New Zealand.”
