The General Insurance Association of Japan (GIAJ) has released the figures for claims paid out regarding the 2024 Noto Peninsula Earthquake. The earthquake occurred in January 2024.
Tokio Marine Group's full year adjusted net income for FY2024 amounted to JPY1.1tn ($7.4bn), a 56% increase from FY2023 (JPY685.5bn).
Nearly two-thirds (62%) of respondents to a new survey in Japan do not plan to travel this year, with 92% citing a lack of money or high costs as the main reason.
To address the country's rapidly declining birthrate Japan's health ministry is all set to eliminate out-of-pocket payments associated with child delivery. This measure may come into effect from April 2026.
The APAC region, particularly in South Korea and Japan, experienced significant wildfires, floods and earthquakes in the first quarter of 2025 leading to billions of dollars in economic and insured losses, according to an Aon report.
The nursing-care insurance policyholders in Japan may not receive the care they need due to acute shortage of nursing care service providers in the country.
Peak Re has announced the successful issuance of the second CAT bond, via Black Kite Re, a special purpose insurer (SPI) in Hong Kong. Building on the success of its inaugural 2022 issuance, this transaction secures $50m in retrocessional reinsurance protection, extending coverage in Japan to earthquake and typhoon risks while introducing parametric earthquake protection for China and India.
According to Prudential, in 1Q2025, new business profit on a traditional embedded value went up 12% to $608m, annual premium equivalent (APE) sales went up 4% to $1.7bn and new the new business margin increased by two percentage points.
When representatives from the Japanese Financial Services Agency (FSA) paid Thailand's insurance regulator, the Office of the Insurance Commission (OIC) a courtesy visit, they engaged in discussions on supervisory approaches in the insurance sector.
Family members back home of foreign workers employed in Japan will be provided health insurance covers by the employer company.