is a mutual
life insurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...
company in
Japan, founded in 1907 and headquartered in
Osaka
is a designated city in the Kansai region of Honshu in Japan. It is the capital of and most populous city in Osaka Prefecture, and the third most populous city in Japan, following Special wards of Tokyo and Yokohama. With a population of ...
.
In 2005, the company announced a joint venture with the
People's Insurance Company of China. The new company was named PICC Life Insurance, which sells insurance products, including savings-oriented endowment insurance policies.
In 2012 Sumitomo Life decided to become a strategic partner of
Bao Viet Insurance
Bao Viet (also Bao Viet Holdings vi, Tập đoàn Tài chính-Bảo hiểm Bảo Việt) is the largest Vietnamese insurance company and Vietnam's seventh largest listed company by market capitalisation. It is state-owned and has a strategic part ...
from
Vietnam
Vietnam or Viet Nam ( vi, Việt Nam, ), officially the Socialist Republic of Vietnam,., group="n" is a country in Southeast Asia, at the eastern edge of mainland Southeast Asia, with an area of and population of 96 million, making it ...
by acquiring 18% of the company's shares previously held by
HSBC
HSBC Holdings plc is a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 tri ...
.
See also
*
List of investors in Bernard L. Madoff Securities
References
External links
Sumitomo Life Insurance Company(in Japanese)
Sumitomo Life Insurance Company Annual Report(in English)
Insurance companies of Japan
Mutual insurance companies
Mitsui
Companies based in Osaka Prefecture
Japanese brands
Sumitomo Group
Financial services companies established in 1907
Japanese companies established in 1907
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