Mumbai: Nippon Life Insurance of Japan announces the successful acquisition of 75% stake in Reliance Nippon Life Asset Management (RNAM).
Nippon Life initially invested to acquire 26% stake in 2012. With this latest transaction, Nippon Life’s total gross investment for RNAM stake is now over Rs. 7,800 crore
The name and brand of the company will be changed soon. RNAM management team lead by Sundeep Sikka , has demonstrated outstanding execution capability and made it to be No.1 AMC in India in terms of retail assets . NLI through its subsidiary Nissay Asset Management have already launched 3 India focused fund in Japan in collaboration with RNAM.
Total assets managed by Nippon Life Insurance are twice the size of the Indian mutual funds industry. The company will continue to benefit from Nippon Life’s leading practices in risk management and leverage its global network for expansion of international and alternate businesses. The AMC has a presence in 300 locations and ha the
Nippon Life Insurance, a 130-year old company, is one of the largest life insurance companies in Japan, managing assets of over US$ 700 Bn. Nippon Life Insurance has revenues of over US$ 70 Bn and core operating profit of US$ 6.8 Bn. Nippon Life Insurance has the largest market share in Japan among private life insurance companies, employing over 70,000 employees and serving nearly 14 million customers worldwide.