Nippon Life Names Veep Asahi as New Pres.

Tokyo, Dec. 18 (Jiji Press)--Nippon Life Insurance Co. said Wednesday that Executive Vice President Satoshi Asahi, 61, will become president April 1, 2025, announcing its first change of president in seven years.

Incumbent President Hiroshi Shimizu, 63, will become chairman with the right to represent the company. Current Chairman Yoshinobu Tsutsui, 70, named the next chairman of the Japan Business Federation, or Keidanren, will be the company's special adviser.

"I will devote myself to further growth of our group and the development of the whole industry," Asahi told a press conference. He also said he will strengthen the company's business base as the domestic life insurance market is expected to shrink due to the country's decreasing population.

As manager of the domestic insurance operations, Asahi worked on strengthening sales capabilities including at insurance agents.

Shimizu described Asahi as "a person with strong leadership who works with his own thoughts."

[Copyright The Jiji Press, Ltd.]