Nippon Life Insurance Co. plans to raise wages for its marketing workforce of 50,000 nationwide in April, sources said Friday.
Japan's largest life insurer is set to increase its commission wages, which reflect the sales performances of individual staff. The rate of increment will be determined later, they said.
The move reflects the firm's efforts to keep good performers during an increasingly competitive job market as the economy recovers.
In Japan's life insurance industry, three other major companies — Meiji Yasuda Life Insurance Co., Sumitomo Life Insurance Co. and Fukoku Mutual Life Insurance Co. — are also preparing to raise wages for marketing staff.