Nippon Life commits US$94m to fintech investment

April 17 2018 by InsuranceAsia News Staff

Japan’s biggest private insurer, Nippon Life Insurance, has pledged US$94 million to a financial technology (fintech) venture fund run by its wholly-owned asset management arm, Nippon Life Global Investors Americas (NLGI Americas).

The venture fund, known as the NLI Strategic Venture Investment Fund, will invest in fintech and so-called “insurance+α” areas, including the asset management, insurance, wealth management, investment infrastructure, childcare and healthcare sectors, according to Nippon Life in a recent statement.

The insurer defines “insurance+α” as “investments that can achieve an alpha investment return for the policyholder”.

Nippon Life said it expects to gather information, as well as co-invest in high-growth venture firms, through its investment in the fund.

With an internal rate of return of over 20%, the fund will seek to leverage the Silicon Valley network of NLGI Americas to access “highly-respected” technology start-up accelerators.

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