Japan Insurance Report Q2 2016

Japan Insurance Report Q2 2016

BMI View: Home to large numbers of wealthy - and ageing - households that have long valued theadvantages of life insurers' offerings, Japan is a rare example of a life insurance market that is enormous inabsolute terms, well developed by most metrics and still expanding faster than the economy as a whole. It isalso profitable for most of the long-established (and enormous) players, notwithstanding that earnings havebeen crimped by very low interest rates. Conversely, the non-life segment faces headwinds - in particular,contracting volumes for motor insurers, who account for over half of the premiums written in the segment.

Key Updates And Forecasts

We continue to forecast growth in life insurance premiums of around 4% annually through the forecastperiod, notwithstanding that some companies have reported double-digit rises in new business in recentmonths. Growth will be driven by increasing demand for retirement income solutions; the establishedposition of the life insurance industry as a provider of social security in Japan; the low rates of returnavailable from competing investment opportunities; and innovation by life insurers in terms of productdesign, distribution and brand.


BMI Industry View
Table: Headline Insurance Forecasts (Japan 2013-2020)
SWOT
Insurance
Industry Forecast
Life Premiums Forecast
Table: Life Premiums (Japan 2013-2020)
Table: Life Insurance Claims (Japan 2007-2014)
Non-Life Premiums Forecast
Table: Non-Life Premiums (Japan 2013-2020)
Table: Non-Life Insurance Claims (Japan 2008-2014)
Non-Life Sub-Sector Forecast
Table: Non-Life Insurance Premiums by Product Line (Japan 2013-2020)
Insurance Risk/Reward Index
Asia Pacific Industry Risk/Reward Index
Table: Asia Pacific Insurance Risk/Reward Index Q216
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
Table: Life Insurance Market (USDmn) 2007-2012
Table: Life Insurance Market (%) 2006-2012
Non-Life Market Overview
The Product Offering
The Competitive Landscape
Company Profile
Japan Post Insurance
MetLife
Nippon Life (Nissay)
Sompo Japan Nipponkoa Holdings
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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