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Four major Japanese life insurers plan to raise dividends for individual policyholders for fiscal 2005 for the second straight year, sources at the firms said Wednesday.

The four are Nippon Life Insurance Co., Sumitomo Life Insurance Co., Meiji Yasuda Life Insurance Co. and Dai-ichi Mutual Life Insurance Co.

The higher payouts are due to the recent sharp stock market rally, which has boosted the returns on their insurance premium management.