Capital · available
No market cap (MUTUAL, policyholder-owned) and no free dry powder in the Berkshire sense — but the $8.2B Resolution Life buy shows meaningful deployable capital. Deployable headroom is solvency-margin surplus; core is JGB liability-matched. FX: JPY.
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- Wikipedia — Nippon Life + Royal Gazette Mutual company, not publicly listed (no market capitalization); funded $8.2B Resolution Life acquisition from balance sheet (2024)
the working
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