Overview

• On July 15, Nippon Life publicly acknowledged that a staff member seconded to Mitsubishi UFJ Bank had illicitly removed confidential internal documents.
• The insurer reported the breach to the Financial Services Agency and opened a formal investigation into those involved and potential parallel cases at other banks.
• The stolen materials, photographed in spring 2024, detailed the bank’s performance evaluation system for insurance sales and competitors’ product revision strategies.
• Nippon Life shared the improperly obtained information internally to bolster its insurance sales strategies.
• Mitsubishi UFJ Bank expressed regret over the incident and pledged to verify the breach’s scope and strengthen its internal oversight measures.