Dai-ichi Life Holdings Inc. named President Koichiro Watanabe as the new chairman of the company and its core unit, Dai-ichi Life Insurance Co. Ltd.

Watanabe replaces Saito Katsutoshi.

Meanwhile, Seiji Inagaki was named the companies' new president. He has been a managing executive officer of Dai-ichi Life Insurance since April 2012 and through the company's structural change to a holding firm in October.

The changes will take effect April 1, 2017.