Nippon Wealth Life Insurance, the wealth management unit of Osaka-based Nippon Life Insurance Group, has transferred part of its equity investment functions to Nissay Asset Management Corp., the group’s investment arm which manages over US$80 billion of assets.
The move comes four years after Taiju Life Insurance, another unit of the group, moved its equity investment functions to Nissay. Nippon Life also shifted some of its alternative and credit investment functions to Nissay in 2021.
According to Nippon Life, the group is looking to steadily boost its investment yield over the long term by diversifying its portfolio, with a focus on credit and alternatives.
“The transfer is intended to consolidate Nippon Wealth Life’s investment capabilities in credit and alternative investment with Nissay Asset Management, as well as the previously transferred Nippon Life’s and Taiju Life’s functions, thereby integrating the group’s internal resources and expertise to strengthen its investment platform,” the insurer says in a statement on November 17.
Nippon Life had 91.12 trillion yen ($608.76 billion) of total assets as of June 2023.