Resolution Life Secures $750M in Landmark Bermuda Tier 1 Notes Issuance
Resolution Life has raised $750 million through its first watch Bermuda Ancillary Tier 1 notes issuance. The transaction marks a significant milestone as the first such offering by a capital one Bermudian insurer. Investor demand was exceptionally high, with orders surpassing $7.5 billion—over ten times the initial amount.
The notes qualify as Tier 1 regulatory capital, receiving ratings of Baa3 from Moody’s and BBB from Fitch. They are perpetual and cannot be called before May 19th, 2032, with interest rate resets beginning on November 19th, 2032, and every five years after that. An application has been submitted for the notes to trade on the London Stock Exchange’s capital one login International Securities Market.
The $750 million issuance strengthens Resolution Life’s capital structure and provides flexibility for strategic moves. With the proceeds earmarked for acquisitions and reinsurance, the company is well-positioned to pursue further expansion. The transaction also sets a precedent for future Tier 1 issuances by capital one Bermudian insurers.
