Mizuho sells insurance by phone

Kyodo

Mizuho Bank has started selling insurance policies by telephone, a move its says is a first for Japan.

The operation, which started Wednesday, is aimed at increasing the bank’s domestic revenue.

Mizuho will market two types of medical insurance policies and a cancer insurance policy of MetLife Alico Life Insurance K.K., a subsidiary of American Life Insurance Co.

The bank, which has marketed insurance policies over the counter at its branches, is keen on expanding its fee revenues by acting as a sales agent for the subsidiary of the U.S. firm.