Due to Japan’s mature life market, Nippon Life has by necessity been looking outside the country for growth, forging foreign alliances and working to expand its asset management abilities.
Nippon Life, which has approximately 47 trillion yen in assets, will issue bonds through early September as part of its plan to increase its total capital base to 4.7 trillion yen from 3.3 trillion yen, said a spokesperson for the company.
Last month Nippon Life said it would take a 5 percent stake investment in U.S. fund and index group Russell Investments and also recently lifted its stake in U.S.-based insurance company Principal Financial Group.