Read the latest edition of AIR and MEIR as an Interactive e-book

Mar 2023

Market Profile


Top regulatory priority is ensuring solvency of insurers

Japan Financial Services Agency has laid out several strategic priorities for the insurance industry for 2023, including improving sustainability, closing the Nat CAT protection gap and improving asset liability management efforts.

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Insurance market 1H profits contracts on COVID and CAT woes

The Japanese insurance industry reported a sharp decline in profits in both life and non-life during the first two quarters of the fiscal year ending 31 March 2023.

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A hard market in recovery

Japan’s general insurers have had a tough couple of years, although 2022 saw them begin the recovery process.

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Reinsurance: Coping with recession, ageing and Nat CAT

We spoke to some reinsurance experts in Japan to get their thoughts on the biggest issues affecting the country’s reinsurance industry.

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InsurTech growing slowly but surely in Japan

The ecosystem for InsurTechs in Japan is improving and growing. Traditional insurers are also looking for digitalisation opportunities.

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Technology essential but with a human touch

Japan needs to adopt technology to ensure that the super-ageing population of the country is served optimally. This requires a hybrid approach – a judicious combination of technology and the human touch.

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Soft yen has mixed impact on insurers

It has been a turbulent year for non-life insurers in Japan in 2022 with severe and frequent Nat CAT and uncertain macroeconomic conditions. While the country has had relatively low inflation, its weakening currency has impacted supply chains.

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Life sector in Japan learns to live with COVID

The Japanese life insurance industry has been impacting the market through a number of customer-centric initiatives and expects to keep the momentum going in 2023.

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