Nippon Life Insurance Co. plans to bolster its foundation fund, the equivalent of a stock company's capital, by 150 billion yen by August via a securitization plan it hopes will attract individual investors, informed sources said Wednesday.
Nippon Life, a mutual firm, hopes to attract an array of investors by pricing the securities so they are affordable to individuals.
The move would make Nippon Life the first major Japanese life insurer to raise funds, at least in part, from individual investors.