Kampo Life Insurance to Make Minority Investment in KKR-Backed Hoken Misenhonpo Group

TOKYO, March 31, 2026 – Kampo Life Insurance Co., Ltd. ("Kampo Life"), Hoken Misenhonpo Group Co., Ltd. ("Hoken Misenhonpo Group" or "the Company"), and KKR, a global investment firm, today announced that Kampo Life has completed a minority investment in Hoken Misenhonpo Group. KKR acquired Hoken Misenhonpo Group in 2025 through a fund it manages and will continue to be the principal shareholder holding a majority stake in the Company following this investment.

This investment will enable Hoken Misenhonpo Group to accelerate its growth strategies, both organic and inorganic, and further expand its insurance platform in Japan. It will also drive the creation of new collaborative opportunities by leveraging the Company's business foundation and Kampo Life's expertise in insurance and customer service. This includes Kampo Life launching a new call center business in April 2026, with the support of Hoken Misenhonpo Group.

Kunio Taniaki, Director and President, Representative Executive Officer of Kampo Life, stated: "Hoken Misenhonpo Group possesses a unique business model combining shops and call centers, making it one of the largest insurance agencies in Japan. We believe that partnering with such a growth-oriented and innovative company, both financially and operationally, is a highly significant opportunity that will enhance the added value of Kampo Life's main channel, the post office network, and contribute to its sustainable growth. Through this investment, we aim to further deepen the partnership with KKR, which began in 2023, and to carefully build collaborative initiatives, including call centers, to foster a win-win relationship among the three companies, including Hoken Misenhonpo Group."

Tomotaka Usui, Representative Director, President and Group CEO of Hoken Misenhonpo Group, stated: "We are greatly encouraged by Kampo Life Insurance's investment, which has enabled us to build a strong partnership not only financially but also operationally. This funding will allow us to further improve service quality, strengthen our risk management system, and accelerate our business growth through collaboration with Kampo Life and KKR. We will continue to deepen the partnership among the three companies, striving to provide sustainable value to customers and society, and enhance corporate value."

Hirofumi Hirano, Asia Vice Chairman and Japan Representative Director and President of KKR, stated: "This investment by Kampo Life demonstrates our and Kampo Life's confidence in Hoken Misenhonpo Group's unique platform and high growth potential. We expect that Kampo Life's support and strategic collaboration will enable further expansion of the Group's platform across Japan. We are also very pleased to further strengthen our relationship with Kampo Life through Hoken Misenhonpo Group."

KKR announced the acquisition of Hoken Misenhonpo Group through a fund it manages on September 16, 2025, with the aim of accelerating its growth strategy as an insurance agency and creating new value. Furthermore, on March 31, 2026, Hoken Misenhonpo Group announced the completion of its acquisition of ETERNAL Co., Ltd. ("ETERNAL") from Tokai Tokyo Financial Holdings, Inc. ETERNAL operates over 40 "Hoken Terrace" insurance shops, primarily in commercial facilities in the Tokyo metropolitan, Nagoya metropolitan, and Osaka metropolitan areas.

This investment is not intended for Kampo Life to sell its own products through Hoken Misenhonpo Group.

About Kampo Life

Kampo Life is a Japanese life insurance company that offers a wide range of life insurance products, primarily individual life insurance such as endowment and whole life insurance. It was established on October 1, 2007, as a Japan Post Group company following the privatization and demerger of the Japan Post public corporation. As a member of the Japan Post Group, it offers individual products through its branch Kampo Service Departments and the postal network operated by Japan Post Co., Ltd. nationwide, as well as corporate services through its branch corporate sales departments, etc.

About Hoken Misenhonpo Group

Hoken Misenhonpo Group is one of Japan's largest insurance agency groups, operating an omni-channel network of shops, call centers, and online platforms. Aiming to be a "Life Support Platformer" for the 100-year life era, the group strives to deliver security and affluence to people's lives. It supports each customer's life by removing inconveniences, dissatisfactions, and anxieties, offering multifaceted services beyond insurance consultations, such as operating stores that also house mortgage shops and nursing care consultation desks.

About KKR

KKR is a global investment firm that provides alternative assets, capital markets, and insurance solutions. With a long-term, disciplined investment approach, KKR aims to support the growth of portfolio companies and communities with world-class talent, generating attractive investment returns. KKR sponsors investment funds that invest in private equity, credit, and real assets, and has strategic partners that manage hedge funds. KKR offers retirement, life insurance, and reinsurance products under its insurance subsidiary, Global Atlantic Financial Group. KKR's investment activities may include activities by funds sponsored by KKR and its insurance subsidiaries. For more information about KKR (NYSE: KKR), please visit www.kkr.com. For more information about Global Atlantic Financial Group, please visit www.globalatlantic.com.