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New Market Report: Life Insurance in Japan, Key Trends and Opportunities to 2017

Fast Market Research recommends "Life Insurance in Japan, Key Trends and Opportunities to 2017" from Timetric, now available

 
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Boston, MA -- (SBWIRE) -- 01/01/2014 -- The Japanese life insurance segment is the second-largest in the world, behind only the US, with 18-19% of the global life insurance written premium value in 2012. Japan registered stable growth in life insurance business during the review period (2008-2012), with gross written premium expanding at a compound annual growth rate (CAGR) of 3.9% to value JPY31.7 trillion (US$397.6 billion) in 2012. The aging population, government reforms and the devastating earthquake in 2011 entrenched the need for insurance products, leading to expansion in the segment's assets from JPY306.4 trillion (US$2.9 trillion) in 2008 to JPY337.9 trillion (US$4.2 trillion) in 2012. The life insurance segment was mature in 2012 with a penetration of 6.7%, compared to the global average of 4.0%.

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Key Highlights

- The Japanese life insurance segment is the second-largest in the world, behind only the US, with 18-19% of the global life insurance written premium value in 2012
- There were 43 life insurers operating in the segment in 2012, of which 40 were domestic and three were foreign and operated through a branch office
- Japan registered stable growth in life insurance business during the review period, with gross written premium expanding at a CAGR of 3.9% during the review period
- Demand for traditional life insurance products drove growth during the review period. The individual life category accounted for 51.5% of the segment's total written premiums in 2012
- The Japanese Insurance Business Act (IBA) requires all intermediaries either be registered with the FSA or be employees of an FSA-registered corporate intermediary
- Agencies play an important role in the expansion of the segment. Their large network and efficient sales force provides support to customers when purchasing insurance

Scope

This report provides a comprehensive analysis of the life insurance segment in Japan:

- It provides historical values for Japan's life insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in Japan's life insurance segment, along with market forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for life insurance products in Japan
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Japan for the life insurance business
- It provides a detailed analysis of the reinsurance segment in Japan and its growth prospects
- It profiles the top life insurance companies in Japan and outlines the key regulations affecting them

Reasons to Get This Report

Companies Mentioned in this Report: Japan Post Insurance, Nippon Life Insurance Company, Meiji Yasuda Life Insurance Company, Dai-ichi Life Insurance Company, Sumitomo Life Insurance Company, Sony Life Insurance Co., Ltd, Taiyo Life Insurance Company

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