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Life Insurance in Japan, Key Trends and Opportunities to 2020

Life Insurance in Japan, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Life Insurance in Japan, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Japanese life insurance segment, and a comparison of the Japanese insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Japanese economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Life Insurance in Japan, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Japanese life insurance segment, including:

  • An overview of the Japanese life insurance segment
  • The Japanese life insurance segment’s growth prospects by category
  • A comprehensive overview of the Japanese economy and demographics
  • A comparison of the Japanese life insurance segment with its regional counterparts
  • The various distribution channels in the Japanese life insurance segment
  • Details of the competitive landscape in the life insurance segment in Japan
  • Details of regulatory policy applicable to the Japanese insurance industry
Scope

This report provides a comprehensive analysis of the life insurance segment in Japan:
  • It provides historical values for the Japanese life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Japanese life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Japanese life insurance segment with its regional counterparts.
  • It analyzes the various distribution channels for life insurance products in Japan.
  • It profiles the top life insurance companies in Japan and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Japanese life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Japanese life insurance segment.
  • Assess the competitive dynamics in the life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Japanese insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • In 2015, Japan’s life insurance segment was the second-largest globally after the US, and accounted for 10.2% of the global direct written premium.
  • Japan’s population is contracting due to a declining birth rate.
  • As of 2015, there were 38 insurers operating in the Japanese life segment. It is regulated by the Financial Services Agency.
  • During the review period the life segment was driven by demand for traditional products. Individual life accounted for 68.3% of the segment’s direct written premium in 2015.
  • The Japanese life insurance segment is mature and highly competitive. A lack of growth opportunities in the domestic market prompted insurers to expand outside Japan.


  • Key Facts and Highlights
    • Table Japanese Life Insurance - Key Facts, 2015
    • Table Japanese Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Japanese Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Japanese Life Insurance - Gross Written Premium (JPY Trillion and US$ Billion), 2011-2015
        • Table Japanese Life Insurance - Penetration (%), 2011-2015
        • Table Japanese Life Insurance - Gross Written Premium (JPY Trillion and US$ Billion), 2015-2020
        • Table Japanese Life Insurance - Penetration (%), 2015-2020
        • Table Japanese Life Insurance - New Business Direct Written Premium (JPY Trillion and US$ Billion), 2011-2015
        • Table Japanese Life Insurance - New Business Direct Written Premium (JPY Trillion and US$ Billion), 2015-2020
        • Table Japanese Life Insurance - Premium per Capita (JPY and US$), 2011-2015
        • Table Japanese Life Insurance - Premium per Capita (JPY and US$), 2015-2020
      • Policies sold
        • Table Japanese Life Insurance - Number of Policies Sold (Million), 2011-2015
        • Table Japanese Life Insurance - Number of Policies Sold (Million), 2015-2020
      • Claims
        • Table Japanese Life Insurance - Paid Claims (JPY Trillion and US$ Billion), 2011-2015
        • Table Japanese Life Insurance - Paid Claims (JPY Trillion and US$ Billion), 2015-2020
      • Sum assured
        • Table Japanese Life Insurance - Sum Assured (JPY Trillion and US$ Billion), 2011-2015
        • Table Japanese Life Insurance - Sum Assured (JPY Trillion and US$ Billion), 2015-2020
      • Assets and investments
        • Table Japanese Life Insurance - Total Assets (JPY Trillion and US$ Trillion), 2011-2015
        • Table Japanese Life Insurance - Total Assets (JPY Trillion and US$ Trillion), 2015-2020
        • Table Japanese Life Insurance - Total Investment Income (JPY Trillion and US$ Billion), 2011-2015
        • Table Japanese Life Insurance - Total Investment Income (JPY Trillion and US$ Billion), 2015-2020
        • Table Japanese Life Insurance - Investment Portfolio (JPY Trillion), 2011-2015
        • Table Japanese Life Insurance - Investment Portfolio (JPY Trillion), 2015-2020
  • Outlook by Sub-Segment
    • Table Japanese Life Insurance - Direct Written Premium by Sub-Segment (JPY Trillion),2011-2015
    • Table Japanese Life Insurance - Direct Written Premium by Sub-Segment (JPY Trillion), 2015-2020
    • Individual Life Insurance
      • Premium
        • Table Japanese Pension Category - Direct Written Premium (JPY Trillion), 2011-2015
        • Table Japanese Pension Category - Direct Written Premium (JPY Trillion), 2015-2020
      • Policies sold
        • Table Japanese Individual Life Insurance - Number of Policies Sold by Category (Million), 2011-2015
        • Table Japanese Individual Life Insurance - Number of Policies Sold by Category (Million), 2015-2020
      • Penetration
    • Group Life Insurance
      • Premium
        • Table Japanese Superannuation Category - Direct Written Premium (JPY Trillion), 2011-2015
        • Table Japanese Superannuation Category - Direct Written Premium (JPY Trillion), 2015-2020
      • Policies sold
        • Table Japanese Group Life Insurance - Number of Policies Sold by Category (Million), 2011-2015
        • Table Japanese Group Life Insurance - Number of Policies Sold by Category (Million), 2015-2020
      • Penetration
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Table Japanese Life Insurance - New Business Direct Written Premium by Distribution Channel (JPY Billion), 2011-2015
      • Table Japanese Life Insurance - New Business Direct Written Premium by Distribution Channel (JPY Billion), 2015-2020
      • Table Japanese Life Insurance - Percentage of New Business Direct Written Premium, by Distribution Channel, 2011-2020
  • Competitive Landscape
    • Table Japanese Life Segment - Market Shares of Leading Insurers (%), 2015
    • Company Profiles
      • Nippon Life Insurance Company - company overview
        • Table Nippon Life Insurance Company - Key Facts
        • Table Nippon Life Insurance Company - Key Financials (JPY Trillion), 2011-2015
      • Japan Post Insurance Co., Ltd - company overview
        • Table Japan Post Insurance Co., Ltd - Key Facts
        • Table Japan Post Insurance Co., Ltd - Key Financials (JPY Trillion), 2011-2015
      • Meiji Yasuda Life Insurance Company - company overview
        • Table Meiji Yasuda Life Insurance Company - Key Facts
        • Table Meiji Yasuda Life Insurance Company - Key Financials (JPY Billion), 2011-2015
      • Sumitomo Life Insurance Company - company overview
        • Table Sumitomo Life Insurance Company - Key Facts
        • Table Sumitomo Life Insurance Company - Key Financials (JPY Billion), 2011-2015
      • Dai-ichi Life Insurance Company Ltd - company overview
        • Table Dai-ichi Life Insurance Company Ltd - Key Facts
        • Table Dai-ichi Life Insurance Company Ltd - Key Financials (JPY Trillion), 2011-2015
  • Governance, Risk and Compliance
    • Table Japan - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Japan - Life Insurance Regulatory Framework
      • Property insurance
        • Table Japan - Property Insurance Regulatory Framework
        • Table Japan - Premium Rates for Earthquake Insurance
      • Motor insurance
        • Table Japan- Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Japan - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Automobile liability insurance
        • Table Japan - CALI Premium Rates for Different Types of Motor Vehicles (in JPY)
      • Workers' accident compensation insurance
      • Liability insurance for nuclear risks
    • Supervision and Control
      • International Association of Insurance Supervisors (IAIS)
      • Financial Services Agency
      • Local Finance Bureau of the Ministry of Finance
      • The General Insurance Association of Japan (GIAJ)
      • The Life Insurance Association of Japan (LIAJ)
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Japan - Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table Japanese Life Insurance - Policies and Premium, 2011-2015
      • Table Japanese Life Insurance - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Japanese Life Insurance - Claims and Expenses, 2011-2015
      • Table Japanese Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Japanese Life Insurance - Assets and Investments, 2011-2015
      • Table Japanese Life Insurance - Assets and Investments, 2015-2020
    • Direct Marketing and E-Commerce
      • Table Japanese Life Insurance - Direct Marketing and E-Commerce, 2011-2015
      • Table Japanese Life Insurance - Direct Marketing and E-Commerce, 2015-2020
    • Insurance Agencies
      • Table Japanese Life Insurance - Insurance Agencies, 2011-2015
      • Table Japanese Life Insurance - Insurance Agencies, 2015-2020
    • Bancassurance and Other Distribution Channels
      • Table Japanese Life Insurance - Insurance Brokers and Agencies, 2011-2015
      • Table Japanese Life Insurance - Insurance Brokers and Agencies, 2015-2020
    • Individual Life Insurance
      • Table Japanese Life Insurance - Individual Life Insurance, 2011-2015
      • Table Japanese Life Insurance - Individual Life Insurance, 2015-2020
    • Individual Life Insurance by Product
      • Table Japanese Life Insurance - Individual Life Insurance by Product, 2011-2015
      • Table Japanese Life Insurance - Individual Life Insurance by Product, 2015-2020
    • Group Life Insurance
      • Table Japanese Life Insurance - Group Life Insurance, 2011-2015
      • Table Japanese Life Insurance - Group Life Insurance, 2015-2020
    • Group Life Insurance by Product
      • Table Japanese Life Insurance - Group Life Insurance by Product, 2011-2015
      • Table Japanese Life Insurance - Group Life Insurance by Product, 2015-2020
    • Individual Life - Single vs Non-Single Premium
      • Table Japanese Life Insurance - Individual Life Insurance by Premium, 2011-2015
      • Table Japanese Life Insurance - Individual Life Insurance by Premium, 2015-2020
    • Linked vs Non-Linked Policies
      • Table Japanese Life Insurance - Linked vs Non-Linked Policies, 2011-2015
      • Table Japanese Life Insurance - Linked vs Non-Linked Policies, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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