Global Life Insurance Investments and Market Developments

Fubon Life Insurance commits $150 million to a Blackstone Strategic Partners fund

24 Dec 2025

Fubon Life Insurance has committed $150 million to a Blackstone Strategic Partners fund as one of its investment commitments, indicating continued engagement with alternative asset strategies alongside other private equity and infrastructure commitments. This move marks a further expansion of Fubon Life’s portfolio into private markets, diversifying its investment mix and strengthening relationships with major global fund managers. The Strategic Partners funds are part of Blackstone’s larger suite of investment vehicles that attract capital from institutional investors such as insurers. Fubon Life’s commitment reflects its ongoing strategy to allocate capital to long-term private market opportunities.

JAB Insurance to buy Life and Pensions business of Utmost Group

23 Dec 2025

JAB Insurance has agreed to acquire Utmost Group’s Life and Pensions business (ULP), taking on over £5 billion in assets and 175 employees, pending regulatory approval with completion expected in H1 2026. ULP specializes in UK bulk purchase annuities and currently serves around 290,000 pensioners, having completed £311 million in buy-ins since late 2024. The deal aligns with JAB Insurance’s strategy to invest in attractive global insurance markets and expand its UK presence. Utmost Group plans to use the proceeds to repay debt and focus on its wealth solutions business. Both companies emphasized that the acquisition will strengthen ULP’s offerings and support pension scheme trustees and members.

German life insurance sector run-off deals to accelerate in 2026 – Fitch

22 Dec 2025

Fitch expects run-off deals in the German life insurance sector to accelerate in 2026, driven by the sale of closed books, with transactions potentially reaching €25 billion. Insurers are motivated to offload legacy portfolios to reduce administrative costs, free up capital, and focus on new business, while run-off specialists benefit from scale and stable financial results. Regulators will continue scrutinizing these deals to ensure proper policyholder treatment and governance. Premium income is expected to stabilize, with new annual-premium business growing modestly, and Solvency II ratios are projected to remain strong at around 300%. Overall, Fitch maintains a neutral outlook for the German life insurance market despite economic headwinds.

Nippon Life seeking overseas acquisitions and watching bond yields

22 Dec 2025

Nippon Life Insurance is exploring further international acquisitions, particularly in the U.S., following over $12 billion in deals last year, including the $8.2 billion purchase of Bermuda-based Resolution Life Group. President Satoshi Asahi emphasized that while the company is actively evaluating targets, no immediate deals are planned. Rising interest rates in Japan have increased unrealized losses on the insurer’s government bond holdings to ¥4.7 trillion ($30 billion) as of September. Nippon Life has been selling some bonds at a loss to reinvest in higher-yielding securities, while closely monitoring potential risks from further rate hikes. The strategy reflects a dual focus on global expansion and prudent domestic portfolio management.