Insurance shops market size in Japan FY 2014-2023

Published by Statista Research Department, Dec 7, 2023

The value of newly contracted annualized insurance premiums at insurance shops in Japan was estimated to reach 200.3 billion Japanese yen in the fiscal year 2022. The insurance shop market was projected to increase to 206.4 billion yen in fiscal 2023. In May 2016, a revision of the Insurance Business Act was enforced, changing the way of solicitation and sales of insurance products to fit and protect customers.

Value of newly contracted annualized insurance premiums at brick-and-mortar insurance agencies in Japan from fiscal year 2014 to 2022 with a forecast for 2023 (in billion Japanese yen)

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Release date

December 2023

Region

Japan

Survey time period

fiscal years 2014 to 2022; the Japanese fiscal year starts on April 1 of the stated year and ends on March 31 of the following year

Special properties

market size is calculated based on the newly contracted annualized premium of insurance products according to the fiscal year of each of the targeted businesses

Supplementary notes

*Prospect.

**Forecast.

Insurance shops refers to independent insurance agencies that are affiliated with multiple insurance companies.

Figures include life and non-life insurance products for corporations and individual customers.

Figures prior to fiscal year 2017 are from previous reports.

100 Japanese yen equal 0.67 U.S. dollars or 0.62 euros as of December 2023.

Values have been rounded.

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