Nippon Life establishes new subsidiary in Mumbai

Nippon Life has been operating in India through life insurance and asset management businesses.

Nippon Life Insurance received approval to establish a subsidiary based in Mumbai, India.

The subsidiary, established by Nippon Life Asia Pacific in Mumbai, aims to leverage geographical proximity to provide in-depth research, effective management, and support to the company's Indian businesses, it said in a statement.

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Nippon Life has been actively involved in the Indian market, operating life insurance and asset management businesses through strategic investments in entities such as Reliance Nippon Life Insurance and Nippon Life India Asset Management.

Through the growth and development of its life insurance and asset management entities in India, Nippon Life aims to enhance its profitability and, ultimately, deliver greater benefits to its policyholders.