Nippon Life Benefits Names New President and CEO

Nippon Life Benefits said it named Toshihiro Nakashima as president and chief executive officer.

Nippon Life Benefits is the U.S. subsidiary of Japan's Nippon Life Insurance Co. (Nissay).

Nakashima replaces outgoing president and CEO Akira Hosoda, who will return to Nissay Asset Management Corp. in Tokyo, where he will become general manager of the entrusted investment division in the international business department, the company said.

Nakashima has 20-plus years of financial services experience and served in leadership positions. Most recently, he was general manager of the human resources development office at Nippon Life Insurance in Tokyo.

Before that, Nakashima served as CEO of Nissay Deutsche Asset Management in Singapore and held senior management positions in the investment and insurance divisions at Nippon Life Insurance.

Nippon Life Benefits is the marketing name for the Des Moines, Iowa-domiciled Nippon Life Insurance Company of America.

Nippon Life Benefits sells employee benefit programs to small- and medium-sized companies. Its group insurance programs provide medical, life, dental, disability, vision and prescription drug benefits.

Greg Berardi, a company spokesman, said Nippon Life Benefits "will continue to build on its successful growth strategy of the past two years." During that time, the firm has focused on strengthening its provider networks, expanding its product mix and geographic reach, and offering additional solutions at competitive rates, while maintaining its commitment to outstanding service, he said.

Nippon Life Insurance Company of America currently has a Best's Financial Strength Rating of A- (Excellent).