Nippon Life acquires 75% stake in RNAM

Nippon Life Insurance of Japan said recently that it has completed the acquisition of 75 percent stake in Reliance Nippon Life Asset Management (RNAM) from Reliance Capital.

With this latest transaction, Nippon Life’s total gross investment for RNAM stake is now over INR780 million, amongst the largest FDI inflows into India in the financial services sector, a statement said. The Japanese firm initially acquired 26 percent stake in 2012.

Nippon Life Insurance manages assets of over USD 700 billion and with operating profit of USD6.8 billion, has the largest market share in Japan among private life insurance companies.

The company will continue to run its operations as is without any change in structure and management, it added.