Nippon Life completed the acquisition of an 85.1% stake in Nippon Wealth Life Insurance from MassMutual for $986m.

Nippon Life, a life insurance company, completed the acquisition of an 85.1% stake in Nippon Wealth Life Insurance, a company that operates as an insurance company, from MassMutual International, a company that provides insurance services, for $986m. "We are pleased to close on our transaction with Nippon Life, as it will deliver significant value to our policyowners, while expanding our ability to participate in select and attractive Asian markets. This transaction is aligned with our broader international strategy of forging distinct, mutually beneficial partnerships with successful, innovative companies to capitalize on emerging global opportunities," Roger Crandall, MassMutual International Chairman, President and CEO.