Meiji Yasuda Life has launched a telephone voice hearing aid device named "Sound Arch".
Japan is ranked second in a new Swiss Re study on life and health insurance availability, accessibility and affordability (three 'A's). Japan's aggregate inclusion score is 0.66, behind the 0.67 score for the US.
The General Insurance Association of Japan (GIAJ) will continue to promote the active involvement of its member companies in disaster prevention and mitigation activities, Mr Giichi Shirakawa, the association's chairman, has said.
Global insurance group Tokio Marine Holdings (TMH) has announced that it will establish the Tokio Marine Group Leadership Institute in April 2023 to strengthen the talent pipeline and develop the next generation of executive leadership who will build the future of the group.
The number of registered births in Japan fell to a new low in 2022 despite the country's extensive efforts to increase birth rate according to official data released in February 2023.
The average W&I insurance premium rate increased slightly in 2022 in Japan to 2.4% from 2.3% year on year, whereas the hike was bigger in South Korea, climbing to 3.1% in 2022 from 2.4% in 2021, notes Marsh which is the world's foremost insurance broker.
Japan's insurance market has maintained steady top-line growth during the first six months of the fiscal year ending 31 March 2023 (FY2022), according to the statistics published by the Life Insurance Association of Japan (LIAJ) and the General Insurance Association of Japan (GIAJ).
MS&AD Insurance Group Holdings, a major Japanese insurance group, is considering closing down some overseas locations to shore up profits.
The Dai-ichi Life Insurance Company's domestic underwriting business suffered insured losses in 2022, caused by 'deemed hospitalisation' amid the COVID-19 Omicron wave of infections, notes Fitch Ratings.
Regulatory solvency margin ratios (SMR) for Japan's insurers have been rapidly declining. Interest rate increases put downward pressure on the current SMR but has a neutral or positive impact on the economic solvency ratio (ESR), the new solvency regulation, which can complicate the transition process.