Four major Japanese life insurance companies will stop transferring employees to agents and banks on loan for insurance sales following scandals involving such workers, people familiar with the matter said Monday.
Nippon Life Insurance, Meiji Yasuda Life Insurance and Sumitomo Life Insurance are considering abolishing the practice as early as April 2026. Dai-ichi Life Holdings also plans to end the practice at an undecided date.
Transfers to divisions that are not related to insurance sales will not be affected.
These moves follow a series of scandals in which employees sent to sales agents leaked rival insurers' customer information.
In addition, a Nippon Life employee who was on loan at MUFG Bank shared internal bank information with sales staff at the insurance firm.
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