Japan’s Sumitomo Life Insurance Company has positioned its entire management operations as responsible investments in its three-year strategic plan.
“We will systematically incorporate environmental, social, and governance factors into our investments and financing decisions and actively promote stewardship activities,” the Osaka-based insurer with around US$250 billion of assets, says in a statement on April 2. “As an asset owner, we will strive to balance responsible investment with improved profitability.”
According to the firm, the plan, which covers its three financial years to March 2029, “aims to contribute to the long-term well-being of all stakeholders”.
Meanwhile, Sumitomo Life plans to focus on North America and Asia for its international business, saying that the regions “are expected to have an overall advantage based on market size and growth potential”.
The insurer aims to increase its overseas client base from 6.95 million in 2025 to 10 million by 2030, and its Japanese client base from 14.63 million to more than 20 million.
