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Sumitomo Life Insurance Company is a mutual life insurance company in Japan, founded in 1907 and headquartered in Osaka. In 2005, the company announced a joint venture with the People's Insurance Company of China PICC Holdings Company. The new company will be called PICC Life Insurance Co. It will sell insurance products, including savings-oriented endowment insurance policies. In 2012, Sumitomo Life decided to become a strategic partner of Bao Viet Insurance from Vietnam by acquiring 18% of the company's shares previously held by HSBC.