Japanese life insurer Dai-ichi Life Insurance Company's plan to acquire a 15% stake in UK-based M&G plc is likely to enhance the life insurer's global diversification and international investment capability according to Fitch Ratings.
Japan's four major rated life insurers - Meiji Yasuda Life Insurance Company, Sumitomo Life Insurance Company, Dai-ichi Life Insurance Company and Nippon Life Insurance Company - have reported in their results for financial year 2024 ending 31 March 2025 that the unrealised losses on domestic bonds on an aggregated basis were more than four times higher at fiscal 2024 year-end than a year earlier.
Sompo Japan Insurance has submitted its business improvement plan to the Financial Services Agency (FSA) in accordance with the order issued in March 2025, regarding the leakage of customer information.
Reinsurance Group of America (RGA) has reached an agreement with Dai-ichi Life for an RGA subsidiary to reinsure JPY150bn ($1.05bn) of statutory reserves through coinsurance.
Over the past decade, several major Japanese life insurers have been seeking growth opportunities overseas, particularly in the US, mainly due to the maturity of the domestic market, said Fitch Ratings.
Foreign residents in Japan may have to pay their National Health Insurance premiums in advance according to a new proposal by the country's ruling Liberal Democratic Party (LDP). The LDP's proposal has called for introducing a system of prepayment at the time of enrolment for the foreign residents in the country.
Pacific Life Re yesterday announced a second asset intensive reinsurance agreement with Tokio Marine & Nichido Life Insurance (Anshin Life).
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.