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Insurance

Nippon Life offers insurance to low-income Asians at 40 cents a month

Japanese provider looks to tap $90bn-plus sector with microinsurance

A street vendor on the streets of Jakarta. Nippon Life will first sell its microinsurance in Indonesia before expanding to other markets.   © Reuters

TOKYO -- Japan's Nippon Life Insurance will start selling "micro" plans targeting low-income customers in Asia, with the goal of issuing at least 350,000 policies in the next five years.

Nippon Life will first make the policies available in Indonesia as soon as this month through the local group company Sequis Life. The business will then expand to three more group companies in India, Thailand and Myanmar.

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