Estimated losses are small compared to 2011's Great East Japan Earthquake, with Fitch echoing announcements from Moody's and AM Best that the credit impact on non-life insurers should be manageable.
Nippon Life is set to acquire 99.6% shares of the holding company of leading nursing care business Nichiigakkan for US$1.41 billion, as it seeks to diversify due to Japan's ageing demographic.