The number of new life insurance policies in Japan has been recovering after falling when the COVID-19 pandemic erupted last year, says the Life Planning Department of The Toa Reinsurance Company.
Earnings from underwriting in the life insurance sector in Japan remain resilient due to the seasoned and stable in-force policies, noted Fitch Ratings in its "2021 Fitch on Japan" webinar last week.
The COVID-19 pandemic has dented life insurers' top-line growth while low interest rates have dampened their investment income significantly. Consequently, AM Best says that it is maintaining its negative market segment outlook on Japan's life insurance segment.
The overall credit fundamentals of Japanese life insurers are likely to remain healthy in the financial year ending March 2022 (FYE22), said Fitch Ratings (Fitch) in a new report.
Mr Akio Negishi, chairman of the Life Insurance Association of Japan (LIAJ) has said that because of the COVID-19 pandemic, there is a need to figure out the way forward for some time and that the present high degree of uncertainty will continue.
Japan's life insurance market provides insights into the future of insurers elsewhere concerning low interest rates as insurers in Japan have been affected by ultra-low interest rates for much longer than their global peers, Fitch Ratings says in a new report.
Strong sales in whole life, term life and cancer insurance in Japan has led to a significant jump in the number of new individual life insurance policies and the amount of benefits coverage for FY2018, revealed latest figures from the 'Life Insurance Fact Book (2019)' published by The Life Insurance Association of Japan.
Genoplan is a genetic testing company backed by big-name venture funds such as Softbank Venture Asia, Samsung Venture Investment, and GC Pharma. Asia Advisers Network finds out how it has helped its partners in the insurance industry improve sales conversion rate by as much as 600%.
One in five people among those aged 65 or older in Japan, or about seven million people, are projected to suffer from dementia in 2025, according to a Ministry of Health, Labour and Welfare estimate.
Saving, investing, and planning for retirement can be an exercise in futility if an individual lacks the know-how that is required to be successful, according to the seventh annual Aegon Retirement Readiness Survey.
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