In the fiscal year 2023, premium and other income of life insurance companies in Japan amounted to around 43 trillion Japanese yen. This represented an increase from about 38 trillion yen in the previous year.
Premium income of life insurers
Individual insurance was the largest source of premium income for the 42 private life insurance companies operating in Japan, followed by individual annuity insurance. The value of individual insurance policies in force, which describes the total amount of death benefits, has been on a steady decline in recent years, while the opposite is the case for the number of individual insurance policies in force. This trend can be attributed to an increasing share of health-related insurance products that do not include any or only small amounts of death benefits.
Third-sector insurance
Considering the aging population and high life expectancy in Japan, the need for third-sector insurance products has increased over the past decade. Third-sector insurance products, such as medical insurance, long-term care, and personal injury insurance, account for a growing share of new individual insurance policies taken out each year. Annualized premiums of third-sector insurance, which can be offered by both life and non-life insurers, have increased steadily in recent years.
Premium and other income of life insurance companies in Japan from fiscal year 2014 to 2023
(in trillion Japanese yen)
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
LIAJ. (November 25, 2024). Premium and other income of life insurance companies in Japan from fiscal year 2014 to 2023 (in trillion Japanese yen) [Graph]. In Statista. Retrieved December 12, 2024, from https://www.statista.com/statistics/1290611/japan-life-insurance-companies-premium-other-income/
LIAJ. "Premium and other income of life insurance companies in Japan from fiscal year 2014 to 2023 (in trillion Japanese yen)." Chart. November 25, 2024. Statista. Accessed December 12, 2024. https://www.statista.com/statistics/1290611/japan-life-insurance-companies-premium-other-income/
LIAJ. (2024). Premium and other income of life insurance companies in Japan from fiscal year 2014 to 2023 (in trillion Japanese yen). Statista. Statista Inc.. Accessed: December 12, 2024. https://www.statista.com/statistics/1290611/japan-life-insurance-companies-premium-other-income/
LIAJ. "Premium and Other Income of Life Insurance Companies in Japan from Fiscal Year 2014 to 2023 (in Trillion Japanese Yen)." Statista, Statista Inc., 25 Nov 2024, https://www.statista.com/statistics/1290611/japan-life-insurance-companies-premium-other-income/
LIAJ, Premium and other income of life insurance companies in Japan from fiscal year 2014 to 2023 (in trillion Japanese yen) Statista, https://www.statista.com/statistics/1290611/japan-life-insurance-companies-premium-other-income/ (last visited December 12, 2024)
Premium and other income of life insurance companies in Japan from fiscal year 2014 to 2023 (in trillion Japanese yen) [Graph], LIAJ, November 25, 2024. [Online]. Available: https://www.statista.com/statistics/1290611/japan-life-insurance-companies-premium-other-income/