Wednesday, September 20, 2017

Nippon Life bullish on Australian foray

Nippon Life, the biggest Japanese life insurance company by revenue, has high hopes for its first foray into the Australian market.

Nippon Life entered Australia through MLC Life Insurance and pins its growth expectations partly on the shoulders of Australian independent financial advisers.

Nippon Life senior managing director Hiroyuki Nishi told a gathering of independent financial advisers (IFAs) that the Japanese insurer intends to make MLC Life Insurance number one in the market soon, with their help.

Nishi admitted that becoming the leader in the Australian market will be hard to achieve without the support of IFAs.

Nippon Life bought 80% in MLC Life Insurance in October 2015.

MLC is National Australia Bank’s wealth management partner providing investment, superannuation, insurance and financial advice to corporate, institutional and retail customers.

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