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NissanMutual Life Insurance Company (日産生命保険相互会社) was a Japanesecompany established in 1909 that wentbankrupt on April 25, 1997. It was the first time since the postwar period that a life insurer went bankrupt.
Aoba Life Insurance took over all its insurance contracts in October 1997. Aoba was a company established in June by theLife Insurance Association of Japan, thetrustee appointed by the Ministry of Finance to handle theassets andliabilities of Nissan Mutual Life Insurance. On November 30, 1999 Aoba was sold toArtémis, a French holding controlled byFrançois Pinault.[1]Prudential Financial purchased Aoba in 2004.[2][3]