News Non-Life21 Jan 2022

Japan:GIAJ members see less compulsory automobile liability insurance business in year to March 2021

| 21 Jan 2022

The combined net profits posted by members of the General Insurance Association of Japan (GIAJ) for the financial year ended 31 March 2021 (FY2020) decreased by 4.4% year-on-year to JPY437.6bn in FY2020 due to an increase in special losses. Net profits consist of ordinary profits including special profits or losses minus corporate income taxes, corporate resident taxes, etc.

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