The Sompo Group, one of the top three Japanese non-life insurers, has joined to the Net-Zero Insurance Alliance (NZIA) to accelerate its "SOMPO Climate Action" drive toward achieving net-zero greenhouse gas (GHG) emissions by 2050.
PERILS, the independent Zurich-based company providing industry-wide catastrophe insurance data, has extended its market coverage to include exposure and event loss data for the perils of wind and flood in Japan.
Overall business conditions for life insurers In Japan have improved compared to during earlier stages of the COVID-19 pandemic, prompting AM Best to revise its outlook on the life insurance market to 'Stable' from 'Negative'.
The Japanese government is not liable for damages claimed by people affected by the 2011 Fukushima nuclear disaster according to a ruling by Japan's supreme court.
MSIG Insurance (Hong Kong) [MSIG HK] is expected to maintain a profitable underwriting performance over the coming two years, according to S&P Global Ratings.
Resolution Life, the long-term legacy life insurance solutions provider, has announced that its Bermudian reinsurance platform, Resolution Re, has entered into a reinsurance agreement with The Dai-Ichi Life Insurance that transfers a closed book of whole of life policies with JPY150bn ($1.1bn) in total liabilities. The agreement relates to coverage for market risks and insurance risks.
Mitsui Sumitomo Insurance Company's (MSI) operating performance has remained strong, supported by the company's consistent trend of steadily growing premium income in the past, notes AM Best.
The overall credit fundamentals of Japanese non-life insurance groups are likely to remain healthy in the fiscal year ending March 2023 (FYE23), says Fitch Ratings.
The overall credit fundamentals of Japanese life insurers are likely to remain healthy in the financial year ending March 2023 (FYE23), says Fitch Ratings in its report titled ""Japanese Life Insurance Dashboard: FYE22 Results".
The core profit of the four major Japanese life insurance companies increased in the fiscal year ended 31 March 2022 (fiscal 2021) from a year earlier, driven by higher investment margins, while mortality margins declined, notes Moody's Investors Service.