The April reinsurance renewals for 2024 in Japan were orderly and in general proceeded with stable terms and conditions, according to The Toa Reinsurance Co (Toa Re).
The net income of The Toa Reinsurance Company (Toa Re) has turned around since fiscal-year 2022 (FY2022), notes AM Best.
An estimated 2m to 3m customer records were leaked in a data breach involving Japan's four leading property and casualty insurers, Kyodo News Agency reported, citing sources close to the matter.
National Australia Bank (NAB) has agreed to sell 80% of its life insurance arm to Japan's Nippon Life Insurance Co for about US$1.7 billion, said a person familiar with the matter.
Meiji Yasuda Life Insurance Company has announced that its US subsidiary StanCorp Financial Group has reached a $2-bn agreement with The Allstate Corporation, a major US property and casualty insurance company.
Giant life insurer, Dai-ichi Life, demonstrated a mixed financial performance in the first quarter of the current fiscal year which started on 1 April 2024 (FY24). The company faced a decline in premium income but saw improvements in other areas, including investment income and core profit, says CreditSights, a FitchSolutions company.
Four major Japanese non-life insurers will raise corporate fire insurance premiums from October, reported Jiji Press quoting informed sources.
Insurers are seeing rapidly growing demand for heat-related illness coverage in the sweltering summer and are offering flexible insurance plans that are easy to purchase.
In 2018, typhoons Jebi and Cimarron "toppled over several turbines in Japan", according to an article published by Swiss Re, Climate Change and Wind Power: The Winds of Change.
Tokio Marine Holdings, MS&AD Insurance Group Holdings and Sompo Holdings posted strong results for the financial year ended 31 March 2024 (FY23) despite a series of corporate scandals, notes S&P Global Ratings.