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Japanese Insurance Industry

Product Type: Market Research Report
Published by: Global Industry Analysts
Published: March 2008
Product Code: R263-3395
Description
The Japanese Insurance Industry Report provides insightful analysis, market overview, industry structure and outlook of life and non-life/ general insurance industries in the region. Richly laden with quantitative analysis, the report provides the reader with a rudimentary preface to the Japanese insurance industry. A synopsized discussion offers preludes to reinsurance and other insurance markets within the non-life insurance sector, such as health, automobile, property, fire, accident, catastrophe and pet insurance. The closely summarized Japanese market report is designed to offer a broad, macro level picture of trends, regulatory/legislative environment, insurance associations; and recent mergers & acquisitions, and strategic corporate developments witnessed by the industry. Also provided is a compilation of recent past/ historical perspective of the country’s insurance market, corporate developments, and market facts & figures of the industry. The report examines the leading companies’ footing in insurance markets at regional level, along with their annual written premiums and/ or market shares. Regional key and niche players briefly discussed and abstracted in the report include Asahi Mutual Life Insurance, Dai -ichi Mutual Life Insurance, Meiji Yasuda Life Insurance, Millea Holdings, Inc., Tokio Marine & Nichido Fire Insurance Co., Ltd., Mitsui Sumitomo Insurance Company, Ltd., Nippon Life Insurance Co., Sompo Japan Insurance Inc., and Sumitomo Life Insurance.

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Table of Contents
1. Industry Review


Japan - A Leading Insurance Market Worldwide


Table 1: Japanese Recent Past, Current & Future Analysis for


Insurance Industry by Segment - Life and Non- Life Markets


Independently Analyzed with Annual Premiums in US$ Billion


for Fiscal Years 2005 through 2010 (includes corresponding


Graph/Chart)






Table 2: Japanese 6-Year Perspective for Insurance Industry


by Segment - Percentage Breakdown of Premiums for Life and


Non-Life Markets for 2005, 2008, and 2010 (includes


corresponding Graph/Chart)






Table 3: Japanese Insurance Industry (2006): Per Capita


Premium in US$, and Penetration of Insurance by Category -


Life and Non-Life


Japanese Insurance Industry - An Overview


Non-Payment Issues Hit the Japanese Life Insurance Industry


Foreigners Reign


IT Spend - An Ascent to Efficiency


Table 4: Japanese Insurance Industry (2005-2010): Total


Insurance IT Expenditure in US$ Billion For Life and Non-Life


Insurance (includes corresponding Graph/Chart)


Amendments to IBL: A Review


De Mutualizing of Insurance Companies: Demoralizing Consumer Interests?


Japanese Insurance Industry: Developments in the Recent Past


Japan’s Favoritism to Kampo Met with Hot Opposition


Sluggish Japanese Economy Lags Growth in the Insurance Market - A Late 90’s Scenario


Deregulation of the Insurance Industry: Flagged off in the Year 1996


Deregulation Shakes Up the Laxity in the Market


2. Japan’s Insurance Sector: A Mid 90’s Review


Slow Claims Paying Method: Performance Restraint of the 90’s


Leading Japanese Insurers Worldwide - Mid 90s (Assets in ¥ Billion)


Japan in Comparison with Other Leaders (Based on General Premium Income)


Japanese Non-Bank Financial Firms Among the 1,000 Largest Companies Worldwide


Estimated Problem Loans of Japanese Financial }


Institutions: Mid-90s (¥ Trillion)


Table 5: Problem Loans for Japanese Financial Institutions


- A Mid 90’s Scenario (includes corresponding Graph/Chart)


3. Review of Major Insurance Sectors






3a. Life Insurance


Recovery: Hope or Hype?


Challenges Facing Japanese Life Insurance Sector


Foreign Players Eye the Takeover of Domestic Life Insurers


Deregulation Shakes the Market Lull


Table 6: Japanese Life Insurance Market (FY2005-FY2007E):


Percentage Breakdown of Total Premium Income by Category for


Individual Insurance, Individual Annuity, Group Insurance,


Group Annuity, and Others (includes corresponding


Graph/Chart)






Table 7: Japanese Life Insurance Industry (FY2000-FY2006):


Total Assets By Value in ¥ Billion (includes corresponding


Graph/Chart)






Table 8: Japanese Life Insurance Industry (FY2005 & FY2006):


Total Business in Force (In ¥ Billion) by Individual


Insurance, Individual Annuity, Group Insurance, and Group


Annuity (includes corresponding Graph/Chart)






Table 9: Japanese Business in Force Life Insurance Market


(2004): Percentage Breakdown of Insurance Policy Types By


Number and Value for Whole Life, Whole Life-with-Term,


Adjustable Interest Rate Funding Whole Life, Term,


Endowment, Endowment- with-Term, Variable, and Others


(includes corresponding Graph/Chart)






Table 10: Japanese Life Insurance Industry (2000 - 2004


Historic Data):Total New Business (In ¥ Billion) By


Individual Insurance, Individual Annuity, and Group


Insurance (includes corresponding Graph/Chart)






Table 11: Japanese New Business Life Insurance Market


(2004): Percentage Breakdown of Insurance Policy Types By


Number and Value for Whole Life, Whole Life-with-Term,


Adjustable Interest Rate Funding Whole Life, Term,


Endowment, Endowment-with- Term, Variable, and Others


(includes corresponding Graph/Chart)






Table 12: Japanese Life Insurance Industry (FY2005 &


FY2006): Total Payments in ¥ Billion by Benefits, Annuity,


Repayments, and Others (includes corresponding Graph/Chart)






Table 13: Japanese Life Insurance Industry (2001-2004):


Total Payments in ¥ Billion By Benefits, Annuity,


Repayments, and Others (includes corresponding Graph/Chart)


Structure of the Life Insurance Industry


2002-2003: Market Leaders


Table 14: Japanese Life Insurance Industry (2003): Gross


Written Premium in US$ Billion by Leading Companies for


Nippon, Dai-ichi, Meiji Yasuda, Sumitomo, ALICO Japan,


Daido, Mitsui, American Family, Taiyo, and Fukoku (includes


corresponding Graph/Chart)






Table 15: Top-Five Players in the Japanese Life Insurance


Market (2002) - Gross Written Premiums in US$ Million for


Nippon, Dai-Ichi, Sumitomo, Meiji, and Yasuda (includes


corresponding Graph/Chart)


3b. Health Insurance


Personal Health Insurance is the Mainstay


Medical Insurance - A Sunrise Opportunity?


Medical Expenditure: Spiraling Up


Medical Expenditures in Japan: 2000 - 2025


Table 16: Health Insurance Market Size in Japan (*): 2000 &


2005 (¥ Trillion) (includes corresponding Graph/Chart)


High-Risk Medicare Boosts Private Medical Insurance


Table 17: Rising Popularity of Disease Specific Riders in


Japan (2003-2004) (includes corresponding Graph/Chart)


3c. General/Non-Life Insurance


Market Overview


Table 18: Japanese General Insurance Industry


(FY2005-FY2007E): Percentage Breakdown of Direct Premiums by


Category for Automobile (Voluntary), Fire, Personal


Accident, Automobile (Compulsory), and Miscellaneous


(includes corresponding Graph/Chart)






Table 19: Japanese General Insurance Industry


(FY2005-FY2007E): Percentage Breakdown of Net Premiums by


Category for Automobile (Voluntary), Automobile


(Compulsory), Fire, Personal Accident, and Miscellaneous


(includes corresponding Graph/Chart)






Table 20: Japanese General/Non-Life Insurance Companies -


Key Statistics (FY2005)






Table 21: Japanese Market for General/Non-Life Insurance


(2005): Direct Claims in Billion Yen, and Percentage


Breakdown by Business Segment - Compulsory Automobile


Liability, Fire, Marine & Inland Transit, Personal Accident,


Voluntary Automobile, and Miscellaneous Casualty (includes


corresponding Graph/Chart)






Table 22: Japanese Market for General/Non-Life Insurance


(2004): Percentage Value Breakdown of Net Premium by Segment


- Auto (Compulsory, Voluntary), Fire, Miscellaneous


Casualty, Personal Accident and Marine & Inland Transit


(includes corresponding Graph/Chart)


Tokio Leads the Pack


Table 23: Leading Players in Japanese Non-Life Insurance


Market (2004): Percentage Market Share by Company - Aioi


Insurance, Fuji Fire & Marine, Kyoei, Mitsui Sumitomo,


Nipponkoa, Nissay Dowa, Nisshin Fire & Marine, Sompo Japan,


Tokio Marine Nichido, and Others(includes corresponding


Graph/Chart)






Table 24: Japanese Non-Life Insurance Industry (2003):


Gross Written Premium in US$ Billion by Leading Companies


for Tokio, Mitsui Sumitomo, Sompo Japan, Aioi, Nippon Koa,


Nichido, Nissay Dowa, Fuji, AIU, and Kyoei (includes


corresponding Graph/Chart)


Classification of Foreign Non-Life Insurance Firms


Investment Framework


Distribution


Table 25: Japanese General/Non-Life Insurance Market (2005):


Percentage Breakdown of Direct Premium Generation by


Distribution Channel - Agents, Brokers, and Direct


Distribution(includes corresponding Graph/Chart)






Table 26: Japanese General/Non-Life Insurance Market: Total


Direct Premiums Collected by Distribution Channel


(2001-2002) in Million Yen


Automobile Insurance in Japan


Property Insurance


Fire Insurance


Personal Accident Insurance


Catastrophe Insurance


Disaster Claims: Running Heavy on the Industry


Table 27: Catastrophe Insurance Market in Japan: Disaster


Claims Paid in Million Yen for 2005


Earthquake Insurance


Table 28: Japanese General/Non-Life Insurance Market:


Claims Paid under Earthquake Insurance on Dwelling Risks


(In Billion Yen) (includes corresponding Graph/Chart)


Division of Earthquake Insurance


Residential Risks


Industrial risks


Effect of Kobe Earthquake


Other Insurance Sectors


“Third Sector” in Japan


Savings Type Insurance Market


3d. Pet Insurance


3e. Reinsurance


Table 29: Japanese Reinsurance Industry: Leading


Catastrophic Losses Caused by Floods or Windstorm During


1955-2004 By Number of Casualties and Property Damaged (In


Million) (includes corresponding Graph/Chart)






Table 30: Japanese Reinsurance Market: Top Ten Earthquake


Losses During 1955-2004 By Number of Casualties and Property


Damaged (includes corresponding Graph/Chart)






Table 31: Japanese Reinsurance Market: Leading Disasters by


Total Claims Paid in ¥ Billion for Fire, Automobile, and


Marine Sectors (1990-2004) (includes corresponding


Graph/Chart)






Table 32: Japanese Reinsurance Market: Leading Earthquakes by


Total Claims Paid in ¥ Billion (1990-2004) (includes


corresponding Graph/Chart)


4. Facts & Figures - A Snapshot of the Japanese Insurance


Industry in Recent Past






Table 33: Top-Five Players in the Japanese Non-Life Insurance


Market (2002) - Gross Written Premiums in US$ Million for Tokio


Marine, Sompo Japan, Mitsui Sumitomo, NipponKoa, and Aioi


(includes corresponding Graph/Chart)


Table 34: Japanese General/Non-Life Insurance Companies - Key


Statistics (2002)






Table 35: Japanese General/Non-Life Insurance Market: Net


Premiums by Category (2001-2002) in Million Yen (includes


corresponding Graph/Chart)






Table 36: Japanese General/Non-Life Insurance Market: Total


Direct Premiums of Foreign General Insurance Firms by Category


(2001-2002) in Million Yen (includes corresponding


Graph/Chart)






Table 37: Japanese General/Non-Life Insurance Market: Direct


Claims Paid (2001-2002) by Category in Million Yen (includes


corresponding Graph/Chart)






Table 38: Direct Premiums Written Abroad by Japanese


General/Non-Life Insurers (in Million Yen) for 2001 & 2002


(includes corresponding Graph/Chart)






Table 39: Japanese Automobile Insurance Market: Direct Claims


Paid Out by Insurers: 1995-2002 (In ¥ Billion) (includes


corresponding Graph/Chart)




Table 40: Ownership of Voluntary Automobile Insurance in Japan

(1999-2001)


Performance Indicators of Insurers: 2000


Table 41: Leading Japanese Non-Life Insurers’ Performance


Indicators: 2000 (¥ Billion) (includes corresponding Graph/


Chart)


Disaster Claims


Table 42: Japanese General/Non-Life Insurance Market: Claims


Paid for Typhoon or Windstorm (In Billion Yen) (includes


corresponding Graph/Chart)






Table 43: Japanese Fire Insurance Market: Direct Claims Paid


Out by Fire Insurers: 1995-2002 (In ¥ Billion) (includes


corresponding Graph/Chart)




Table 44: Key Personal Accident Insurers in Japan by Net


Premiums Written: 2000 (In ¥ Billion) (includes corresponding


Graph/Chart)






Table 45: Japanese Personal Accident Insurance Market: Direct


Claims Paid Out by Insurers: 1995-2002 (In ¥ Billion)


(includes corresponding Graph/Chart)


5. Regulatory/Legislative Environment


General Supervision


Accounting Practices


New Pension Scheme


6. Role of Insurance Associations in the Japanese Insurance Industry


Marine and Fire Insurance Association of Japan, Inc


Major Activities


General Insurance Association of Japan


Information Services


Disaster Prevention and Traffic Safety Promotion


Prevention of Social Problems


International Activities


Activities for Development of Confidence


Preservation of Environment & Promote NPO Activities


Requests and Proposals


International Association of Insurance Supervisors


Organization for Economic Co-operation and Development


International Meeting of Insurance Associations


International Union of Marine Insurance


East Asian Insurance Congress


7. Product Launch


Euler Hermes to Launch Export Credit Insurance in Japan


8. Product Launches in the Past


Tokio Marine and Fire Insurance Co. Launches Two Products


Mitsubishi Enters into Weather Related Insurance Coverage


9. Recent Industry Activity


Japan Post to Distribute Aflac Japan’s Cancer Insurance Product


AEGON and Sony Life to Set-Up a New Life Insurance Company


Millea Enters into Partnership with JP Morgan


Millea Holdings to Take Over Nisshin Fire & Marine Insurance


American International Group’s Japan Units to Merge


AIG in Alliance with Bank of Tokyo


Rakuten to Enter Non-Life Insurance Business


Tokio Marine in Alliance with Nisshin Fire


Mitsui Sumitomo Insurance to Acquire Mingtai Fire & Marine Insurance


Tokio Marine to Acquire One-Fourth Shares in Tianan Insurance


Euler Hermes to Launch Export Credit Insurance in Japan


Japan’s Regulatory Panel to Recommend New Policy on Child Care


AIU to Tap Japanese Trade Insurance Market


AIG to Acquire Insurance Portfolio of the Royal & Sun


10. Strategic Developments in the Past


Yasuda Fire and Marine Insurance Co. and Nissan Fire and


Marine Insurance Co. Merge


Prudential Acquires Orico Life Insurance


Mass Mutual Acquires Aetna Heiwa Life Insurance


Daido Life and Taiyo Mutual Take Over Tokyo Mutual Life


Prudential Insurance Acquires Kyoei Life Insurance


JLT, FinTech Form Capital Risk Joint Venture


Heiwa Opens Captive Insurer in Hawaii


Aquila Signs Agreement with Mitsui Marine and Fire Insurance


Cigna Divests Stake in Yasuda Kasai Himawari Life Insurance


11. Focus on Select Japanese Players


Asahi Mutual Life Insurance


Dai -ichi Mutual Life Insurance


Meiji Yasuda Life Insurance - Leading Life Insurer in Japan


Millea Holdings, Inc.


Tokio Marine & Nichido Fire Insurance Co., Ltd


Mitsui Sumitomo Insurance Company, Ltd.


Nippon Life Insurance Co. - Largest Japanese Life Insurer.


Sompo Japan Insurance Inc.


Sumitomo Life Insurance




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