Nippon Life has completed its $US8.2 billion ($12.5 billion) purchase of Bermuda-based Resolution Life, including its operations in Australia and New Zealand.

The Japanese group says the deal strengthens its position in Australia, where it also owns MLC Life, which has since rebranded as Acenda.

Acenda now combines the business of MLC Life, Resolution Life and Asteron Life in New Zealand under one brand.

“The combined group is now one of the largest life insurance businesses in Australia and New Zealand, backed by the global strength of Nippon Life,” Acenda said.

Acenda CEO Chris de Bruin says completion of the transaction is a significant step.

“As a combined group we are a stronger, growth-focused business, with the scale and stability to meet the evolving needs of our customers. We are focused on delivering on our promises to customers during the transition, with no change to customer policies or their ability to make a claim.”

Acenda says integration will be phased to ensure a seamless experience for customers, advisers and partners.

“In the meantime, the Acenda Group will continue to serve policyholders in Australia under the Acenda and Resolution Life brands, and policyholders in New Zealand under the Asteron Life and Resolution Life brands.”