Nippon Life President Yoshinobu Tsutsui Says Negative Interest Rates Hurting Company

TOKYO—The head of Japan’s biggest private life insurer, Nippon Life Insurance Co., said negative interest rates are hurting the company’s sales and bottom line, joining a growing chorus of influential people criticizing the central bank’s latest aggressive easing policy.

Yoshinobu Tsutsui, president of Nippon Life, said it has become more difficult to sell yen-denominated products, especially those designed for investment and savings, as the company is forced to push returns lower. Earlier this month the insurer...