By Liam Morgan

Nippon Life Insurance Company have become the latest domestic sponsor to sign up as a Tokyo 2020 Gold PartnerTokio Marine  NichidoTokyo 2020 today added two more domestics sponsors to their growing list of Gold Partners. 

Nippon Life Insurance Company, also known as Nissay or Nihon Seimei, will become the official "Life Insurance" partner of the Olympic and Paralympic Games as home-grown businesses continue to throw their support behind the event.

Tokio Marine & Nichido Fire Insurance Co, who became Japan's first insurance company when they were set up in 1879, were appointed into the "Non-Life Insurance" category and they become the eighth Gold Partner.

Nippon Life insurance are considered the second biggest insurance company in Japan with 70,000 employees spanning the nation, and they have previously been involved with American baseball giants the Chicago Cubs.

They have a rich history spanning 125 years and they are seen as one of the leading companies in the sector in Japan, boasting more than 10 million policy holders.

"As a Gold Partner of the Japanese Olympic Committee for the Vancouver 2010, London 2012, and Sochi 2014 Olympic Games, the company has a distinguished history of supporting Japanese athletes at major international sporting competitions," Yoshinobu Tsutsui, Nippon Life Insurance President, said.

"The Gold Partner agreement with the Tokyo 2020 Organising Committee will not only enable us to support Japan's national Olympic and Paralympic teams, but will inspire us to further increase our focus on the promotion of sport and developing the potential of young people throughout Japan.

"With high expectations that the coming Tokyo 2020 Games will serve as a landmark event that will contribute to creating a bright future for Japan, Nippon Life Insurance will call on all its approximately 70,000 officials and employees across the country to work hard on promoting the Olympic and Paralympic Movements."

Tokio Marine & Nichido have also been involved with sport in Japan through their partnership with the Japan Olympic Committee (JOC) and President Tsuyoshi Nagano said they are "honoured" to be associated with Tokyo 2020. 

"As a proud Tokyo 2020 Gold Partner, Tokio Marine & Nichido is honoured to support the Tokyo 2020 Olympic and Paralympic Games as well as Japan's national Olympic and Paralympic teams," he said.

"As a Tokyo 2020 Gold Partner in the category of Non-Life Insurance, we will continue providing support relating to risk management and non-life insurance products, etc. to contribute to the safety and security of the Games, and achieve a society in which people can take on personal challenges and pursue their hopes, dreams and aspirations with peace of mind."

Tokyo 2020 President Yoshiro Mori has welcomed the latest edition to their lucrative Gold Partner scheme saying Nippon Life Insurance will help them deliver a successful Olympic and Paralympic Games ©Getty ImagesTokyo 2020 President Yoshiro Mori has welcomed the latest editions to their lucrative Gold Partner scheme saying both companies will help deliver a successful Olympic and Paralympic Games ©Getty Images

Tokyo 2020 have already signed up JX Nippon Oil & Energy Corporation, Fujitsu, NEC, Canon, Asahi Breweries and Nippon Telegraph and Telephone Corporation as Gold Partners.

The aim of the scheme is to raise a total of JPY¥150 billion (£840 million/€1.27 billion/$1.1 billion) in sponsorship to help offset the cost of the Games, and Tokyo 2020 are reportedly charging each Gold Partner JPY¥15 billion (£80 million/$128 million/€110 million) to be part of the spectacle in five years' time.

"Nippon Life Insurance has been a JOC Gold Partner since 2009, and has now become a Tokyo 2020 Gold Partner," Tokyo 2020 President Yoshiro Mori said.

"The continued support of such an illustrious company is very encouraging for Tokyo 2020 in our efforts to deliver a successful 2020 Games.

"I am sure that the very substantial network that Tokio Marine & Nichido has established will also be a great help to Tokyo 2020 in our efforts to deliver a successful Games."

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February 2015: Canon announced as latest Tokyo 2020 gold sponsor
January 2015: Tokyo 2020 raises a glass after securing Asahi Brewers as second domestic sponsor
January 2015: Tokyo 2020 sign-up telecommunications giant NTT as first Gold Partner