Nippon life insurance of Japan is looking forward to boost its overseas business activities in the upcoming years. And as a result of it, its planning to target low income Asians with its micro insurance products. As per this new plan, 35000 policies are to be issued in the next five years along with its partnership with local insurer Sequis Life. This is first emerging in Indonesia and then gradually to other places such as India, Thailand and Myanmar.
Employees at companies who does business with multinationals are the primary targets of Nippon Life. Nikkei Asian review reported that Nippon insurer will offer life insurance policies that grant pay-outs of approximately $1300 on monthly premium of about 38 US cents. Expecting improvement in Nippon Life’s investment returns and also to reduce risks by increasing positions in companies with high ESG ratings, Nippon Life said that they are about to introduce ESG ratings for all investments across its $663 billion portfolio from April 2021.
Recently, Nippon Life invested in a 15-year AU$150 million sustainable development bond issued by World Bank. Managing Executive Officer, Chief Investment Officer, Member of the Board of Directors of Nippon Life, Toshihiro Nakashima said to the media that, Nippon Life aims to contribute to the realization of a safe, secure, and sustainable society with their company activities throughout the entire value chain. To contribute to solving social and environmental issues they are actively engaging in ESG investments. The officer also added that Nippon Life’s investment in the bond is one way of contributing to achievement of the SDGs.