Japan Post, KKR and Global Atlantic have signed an agreement under which Japan Post Insurance will invest $2bn (approx. JPY 300bn) in a new vehicle sponsored by Global Atlantic.
Japan Post Insurance’s commitment is over 50% of the Vehicle, which is expected to have access to Global Atlantic’s insurance, reinsurance and strategic activity, and to commence operations in the first half of 2026, subject to customary regulatory approvals.
This transaction marks an additional investment by Japan Post Insurance in a vehicle sponsored by Global Atlantic and is a part of the strategic partnership that Japan Post Insurance, KKR, and Global Atlantic announced in June 2023.
“This investment is a part of our phased approach to our strategic alliance agreement with KKR and Global Atlantic, which we signed in June 2023 with the aim of expanding into new areas of collaboration. In the two years that have passed since establishing this alliance, we have deepened our mutual understanding and come to appreciate the significant presence of KKR and Global Atlantic in the U.S. market and are pleased to invest in this new vehicle sponsored by Global Atlantic. We believe that this investment will enable Japan Post Insurance to diversify our revenue sources by capturing revenues from the robust U.S. annuity market and reinsurance markets globally and continue to build on our win-win relationship with KKR and Global Atlantic,” said Kunio Tanigaki, Director and Representative Executive Officer, President and CEO of Japan Post Insurance.
“We are proud to deepen our relationship with Japan Post Insurance, one of Japan’s leading insurance institutions, through their investment in Global Atlantic’s vehicle. This collaboration reflects the strength of our global insurance platform and our shared commitment to growth as we pursue the opportunity together,” said Joe Bae and Scott Nuttall, Co-CEOs of KKR.
“We are delighted to expand our strategic partnership with Japan Post Insurance and pursue new opportunities for growth and collaboration,” said Billy Butcher and Manu Sareen, Co-Heads of Global Atlantic.
“Japan Post Insurance’s commitment to deploy capital alongside Global Atlantic validates the growing value of our global platform. The investment will accelerate our ability to pursue growth opportunities we see in the U.S., Japan, and other international markets, and support the needs of our clients, policyholders and partners.”