Japanese life insurers have reported a significant increase in core profits and net income after tax, benefiting from lower pandemic-related claims and an improved investment environment with higher interest rates and a weakened yen, noted CreditSights, a Fitch Group company which has just published its outlook for the life insurance sector.
In today's fast-changing environment, Japanese insurers must continue to transform in order to maintain competitiveness and grow globally, says the international professional services firm PwC.
Miller has appointed Mr Tokinori Kono as head of non-marine broking in its Japanese business, Lead Insurance Services Limited.
Japanese insurance giant Mitsui Sumitomo Insurance's (MSI) operating performance has remained strong, said AM Best. It also said that this assessment continues to be supported by the company's consistent trend of steadily growing premium income in the past and a five-year average adjusted return-on-equity ratio of 5.4% (fiscal years 2018-2022), as calculated by the global credit rating agency.
Japan's life insurers' capital adequacy will remain appropriate for their ratings for the foreseeable future, thanks largely to consistent accumulation of core capital, forecasts Fitch Ratings.
Moody's Ratings says that its outlook for Japan's property and casualty (P&C) insurance sector is stable, underpinned by strong overall profitability and capitalisation.
Tokio Marine & Nichido Life Insurance (Anshin Life) has sealed deals with Reinsurance Group of America (RGA) and Pacific Life Re.
Gallagher Re has appointed Mr George Sherriff as CEO and Mr Tsuyoshi Noguchi as chairman.
General insurers in Japan have paid out a cumulative JPY84.89bn ($540m) in claims as of 26 April 2024 for the 1 January Noto Peninsula Earthquake, announced the General Insurance Association of Japan (GIAJ).
Three major Japanese non-life insurance companies have posted record consolidated net profits for the year ended 31 March 2024 (FY2023).