Nippon Life Revises Fees to Banks Under Regulator’s Scrutiny

Nippon Life Insurance Co. is revising the fees it pays to banks and brokerages for selling its products, as Japan’s financial regulator scrutinizes sales of riskier assets to investors.

Japan’s biggest life insurer is trying to avoid continued rounds of sellers encouraging investors to quickly get out of one product to put their money in another, earning more fees for the investment managers. That’s a practice that Japan’s Financial Services Agency has deemed problematic.

Nippon Life will discontinue a system used for some foreign-currency-denominated insurance products that converts the holdings to yen as soon as their investments reach pre-decided ...