Nippon Life to End Employee Secondments to Banks by Fiscal 2026 Amid Data Leak Concerns; FSA Targets "Money Doctor"

Nippon Life Insurance has announced it will discontinue the practice of temporarily sending its employees to work in the sales departments of other firms, such as banks, by the end of fiscal year 2026. This decision follows concerns over customer information leaks and the potential distortion of fair competition associated with these arrangements. The move is part of a broader review of commercial practices triggered by recent misconduct. Separately, Japan's Financial Services Agency plans to issue an improvement order to the insurance agency "Money Doctor" for neglecting customer needs.