In him we have redemption through his blood, the forgiveness of our trespasses, according to the riches of his grace, which he lavished upon us, in all wisdom and insight – Ephesians 1:7-8
The word here translated “redemption” means deliverance in sense of a ransom paid. Jesus Christ is the ransom paid for our deliverance (Rom 3:24; Col 1:14). This usage is almost synonymous with “justification” and should direct us to a fuller dimension of Pauline soteriology.
This redemption and giving of Christ’s blood is solely stemming for the riches of “grace”. This in fact is a reoccurring theme for Paul in this letter (Eph 1:18; 2:7; 3:8, 16). The glorious outpouring of riches is the declaration of a king at peace with His people. For Paul, this is a subtle reflection on the fulfillment of Christ as reigning Davidic king (Eph 1:20; 4:7-8). This outpouring of wisdom in a similar fashion reminds us of Solomon.