NIPPON LIFE INSURANCE CO

Nippon Life Insurance Co. is a Japanese life insurance company based out of Osaka, Japan. The company can trace its history back to the establishment of Nippon Life Assurance Company in 1889 by Sukesaburo Hirose. Nippon Life Insurance would open its first branch office in Tokyo and would quickly behuegan expanding its reach to overseas markets. The firm would then go on to become Japan’s top provider of life insurance by the 1900s. Although Nippon Life Insurance’s growth would slow during the war time era, the company would undergo intensive direct marketing, prompting the company to once again regain a leading position. After the Second World War, Nippon Life Insurance would reorganize itself into a mutual life insurance company. The firm would not stop there, continuing to grow and further expanding its line of businesses to include a variety of other operations and renaming itself from Nippon Life Assurance Company to its current Nippon Life Insurance. Although Nippon Life Insurance would again face obstacles and setbacks in the 1980s and onwards, the company’s diversification of business and investment strategy would allow it to learn from those mistakes and continue to grow. The company currently operates through a variety of held subsidiaries including Nissay Asset Management Corp., Nissay Information Technology Co., Nippon Life Insurance Co. of America, and Nissay Dowa General Insurance Co., among many others. Nippon Life Insurance has over 70,000 employees located in offices around the world, totaling assets of over 50 billion yen. The company invests most heavily in the finance sector, which alone makes up over three quarters of its total asset allocations, and also invests in the health care, information technology, consumer staples, consumer discretionary, and utilities and telecommunications sectors, among others to a lesser degree, in order of decreasing allocation. Nippon Life Insurance’s top holding in Principal Financial Group Inc. alone makes up over a fifth of its total holdings and the company has a turnover rate of approximately 9.6%.