Resolution Life Establishes Permanent Capital Structure

Specialist Insurance Company to Grow through Acquisition of U.S. Life Insurance Businesses

Stamford, CT – March 31, 2014 – Resolution Life Holdings, Inc. (“Resolution Life”), the specialist U.S. life insurance business, today announced that it has established a permanent capital structure that aligns its long-term commitment to the U.S. market with the investment horizon of its institutional investors and the duration of underlying life insurance policies. The company plans to initially invest $2 billion and build a lasting, sizeable and differentiated life insurance business through the acquisition and management of in-force portfolios.

“At Resolution Life, we provide a unique opportunity to insurance companies by acquiring their non-core U.S. life insurance and annuity portfolios and making them our sole priority,” said Chief Executive Officer Weldon Wilson. “We have a long-term view of the U.S. market and have a deep commitment to delivering high-quality customer service and building enduring relationships with our policyholders.”

Resolution Life is sponsored by The Resolution Group, which previously built two U.K. insurance businesses that served as trusted partners to insurance companies, acquiring their non-core life insurance portfolios. Over the past decade, these businesses consolidated a substantial share of the U.K. life market through the acquisition of 25 life insurers, comprising over 10 million policyholders and $200 billion of policy assets.

“The U.S. life insurance industry is highly mature, with over-capacity and increasing competition aimed at a shrinking new business pool. This has created significant profitability pressure and many companies’ life insurance portfolios are becoming increasingly non-core businesses. We believe there is significant opportunity for industry consolidation,” said Chairman Clive Cowdery.

In July 2013, Resolution Life announced its inaugural transaction with an agreement to acquire Lincoln Benefit Life from Allstate Life Insurance Company for approximately $600 million. Domiciled in Nebraska, LBL comprises approximately 350,000 policyholders and $13 billion of policy assets. The transaction is expected to close shortly.

About Resolution Life

Resolution Life Holdings, Inc. is a specialist U.S. life insurance business led by a seasoned executive team with extensive life insurance experience. The company has a permanent capital structure and plans to build a lasting, sizeable and differentiated life insurance business through the acquisition and management of in-force life insurance policies. Resolution Life is a Delaware corporation which will operate across the U.S. with executive offices in Stamford, Connecticut and support offices in Chicago, Illinois and Lincoln, Nebraska. For more information on Resolution Life, please visit http://resolutionlife.com/.

Published: March 31, 2014