Nippon Life to expand sales network

Nippon Life Insurance Co, Japan's largest by assets, aims to more than double its sales force in China from 400 to 1,000 in less than a year, Bloomberg reported. Nippon Life President Kunie Okamoto said he views China as a "stepping stone for profit growth even if it takes several years." As government cuts in social benefits lead more people to seek commercial insurers, China's life insurance market, which includes Beijing-based China Life Insurance Co and American International Group Inc, the world's biggest insurer, is increasingly compelling.