Aon successfully completed the transaction to acquire the in-house insurance agency business of Mitsubishi Chemical Group (MCG) on 1 March 2025. The move was designed to enhance Aon's risk capital and human capital capabilities in Japan.
CreditSights has an Outperform recommendation on Meiji Yasuda, with the report noting that it was one of the top five largest life insurers in Japan, and has a solid balance sheet strength with one of the highest solvency margins among the leading companies. The report noted that its performance was adequate with a good core profit margin.
Japan Post Insurance plans to invest $2bn into a new reinsurance sidecar-like co-investment vehicle sponsored by US life, retirement and annuities insurance and reinsurance company, Global Atlantic Financial Group.
After a reported 2.1% growth in consolidated gross premium returns for both Fukoku Life and its standalone subsidiary Fukokushinrai Life, from JPY580.9bn ($3.9bn) in 9M2024 to JPY592.8bn in 9M2024, CreditSights has revised its recommendation for the company from Market perform to Outperform.
According to data published by the General Insurance Association of Japan, direct premiums written for non-life insurance in Japan for the fiscal year 2023 were approximately JPY9.9tn ($64.12bn).
WTW business Willis has appointed Mr Kohsuke Komorizono as head of risk and analytics for Corporate Risk and Broking Japan.
Meiji Yasuda Life Insurance will acquire Banner Life Insurance for ¥352.2bn ($2.3bn) and also invest ¥130bn for a 5% equity stake in the US firm's parent, Britain's Legal & General Group. As the domestic market shrinks, a number of Japanese life insurers are expanding overseas for growth.
Japanese trading firm Itochu is set to purchase a 20% stake in Thailand's non-life insurer Thaivivat Insurance. According to a release by Itochu, it will invest around THB1bn ($29m) to buy new shares issued by the Thai company.
As the Japanese demography moves to the super-aged stage, the country's general insurance industry foresees challenges ahead. The immediate demographic challenge for the Japanese non-life insurance industry is lack of growth in the domestic market for its traditional products.
FWD Japan has appointed Mr Tsuyoshi Ijichi as representative director, president and CEO, effective 14 January 2025.