Nippon Life was founded as Nippon Life Assurance Co., Inc. in July 1889, and in 1891, the name was changed to Nippon Life Assurance Co., Ltd. When the Company was founded, a premium table based on unique Japanese mortality statistics was created. At the same time, Nippon Life became the first Japanese life insurer to decide to offer profit dividends to policyholders, which embodied the spirit of mutual aid. And so, after its first major closing of books in 1898, Nippon Life paid the first policyholder dividends in Japan.
After World War II, the Company was reborn as Nippon Life Insurance Company in 1947 and continues to work to realize mutual aid and cooperative prosperity as a mutual company.
Looking ahead, Nippon Life will continue to embody this spirit of mutual aid and, as a life insurance company, strive to provide customers with enhanced services. Currently, Nippon Life, as one of Japan's largest private life insurers, has a revenue of US$ 77 billion and profit of US$ 3.1 billion as of March 31, 2021. The Company, with 38 million policies in Japan (as of March 2022), offers a wide range of products, including individual and group life and annuity policies through various distribution channels and mainly uses face-to-face sales channel for its traditional insurance products. The company primarily operates in Japan, North America, Europe and Asia and is headquartered in Osaka, Japan. It is ranked 111th among the Global Fortune 500 firms in 2021.
Data Source: Fortune, Global 500