Nippon Life to Divest Stake in U.S. Asset Manager Post Advisory Group

Nippon Life Insurance Company (President: Satoshi Asahi; hereinafter “Nippon Life”) and Nippon Life Americas, Inc. (hereinafter “NLA”), a subsidiary of Nippon Life, hereby announce that NLA has entered into an agreement with the relevant parties to sell all of its ownership interest in Post Advisory Group, LLC (hereinafter “Post”) to Nexus Capital Management (hereinafter “Nexus”) and Aranda Principal Strategies (hereinafter “APS”), a wholly-owned subsidiary of Temasek. The transaction is expected to be completed by year-end 2025, subject to customary approvals and consents.

Post is an asset management company based in the United States, specializing in high-yield and senior loan strategies under the umbrella of Principal Asset Management, the asset management arm of Principal Financial Group. In alignment with Principal Asset Management's¹ intention to sell its stakes to Nexus and APS, Nippon Life has also decided to divest its ownership in Post. Post will continue its current investment services following the change of shareholders.

Nippon Life aims to become “a corporate group offering various types of reassurance across diverse areas centering around life insurance, spanning out to asset management, healthcare, nursing care, childcare and others as a provider of multidimensional peace of mind”. Targeting 2035, Nippon Life will endeavor to double group core operating profit and increase policyholder dividends. Nippon Life will continue to promote initiatives aimed at enhancing the growth trajectory of our asset management business.