Kuvare Holdings has announced the opening of a Japan Representative Office for its reinsurance affiliate, Kuvare Life Re Ltd. (KLR), as part of its expansion into the Japanese and Asian markets.
The new office in Tokyo is intended to strengthen Kuvare’s relationships and partnerships in the region.
KLR has completed reinsurance transactions with three major Japanese life insurers, covering five different insurance products. These agreements are structured on a forward flow basis and have generated more than ¥500 billion (US$3.5 billion) in total written premium.
“KLR’s successful expansion into Asia, coupled with this latest step establishing a Representative Office in Tokyo, reflects Kuvare’s ongoing commitment to bring unique solutions to insurers and policyholders worldwide. We are excited at the prospects of further strengthening our ties to Japan and other Asian markets,” said Dhiren Jhaveri, founder and CEO of Kuvare.
As part of the launch, KLR has named Daisuke Nagamori (pictured above) as chief representative for Asia-Pacific. Nagamori, who will be based in Tokyo, is responsible for leading KLR’s regional engagement and building relationships with Japanese companies and industry stakeholders.
He has more than 25 years of experience in insurance and financial services, having held senior roles in Malaysia, Taiwan, Hong Kong, and Japan. Most recently, he served as chief commercial officer at a large multinational life insurer in Tokyo.
Nicholas Li, chief business development officer at KLR, said, “Since entering the Japanese market, KLR has consistently prioritized building strong, in-person relationships with our partners, alongside delivering ‘cedant-first,’ innovative reinsurance solutions.”
Li noted that Nagamori’s appointment reinforces this approach and aims to enhance the support and responsiveness offered to partners in the region.
In April last year, alternative asset manager Blue Owl Capital entered into a definitive agreement to acquire Kuvare Insurance Services LP, also known as Kuvare Asset Management, for US$750 million.
As part of the same transaction, Blue Owl also acquired US$250 million in preferred equity in Kuvare, formalizing a long-term partnership between the two companies.
Since its founding in 2015, Kuvare has operated multiple insurance and reinsurance businesses, with a focus on fixed and indexed annuities in the United States.
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