Nippon Life Insurance acquires MLC Life Insurance for $500M, forming Acenda, Australia's largest life insurer.

Nippon Life Insurance is acquiring full ownership of MLC Life Insurance from National Australia Bank for $500 million, merging it with Resolution Life Australasia to form one of Australia's largest life insurers named Acenda. The deal, expected to complete in 2025, will not significantly impact NAB's cash earnings but will enhance Nippon Life's market presence in Australia. The new company, Acenda, will offer a broad range of life insurance products and services.

3 months ago
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