Nippon Life Insurance, a Japan-based life insurance company, buys majority shares of 75% in Reliance-Nippon Life Asset Management(RNAM), India's fifth-biggest mutual fund, which was co-operated by Ambani’s Reliance Capital Ltd. The deal value is set to be $0.6bn. The deal with Nippon Life is critical for embattled tycoon Ambani as he tries to bolster the finances of his last stronghold, Reliance Capital and Nippon Life intends to acquire an additional stake in RNAM in order to support its attempt to enhance presence in the Indian asset management market.