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Premium income of life insurances Japan FY 2011-2019

The total income from premiums for life insurances in Japan amounted to 31.41 trillion Japanese yen in fiscal year 2019. This constituted a decrease of about 2.5 trillion yen compared to the previous fiscal year.

Life insurance in Japan

Japan is one of the largest life insurance markets worldwide. It is characterized by a high life insurance ownership rate among consumers and an income from life insurance premiums exceeding 30 trillion Japanese yen every year. Life insurance companies face challenges related to the demographic shift and a declining population. While the number of individual life insurance policies has continuously increased in recent years, the value of individual life insurance policies in force has decreased.

Third sector insurance

Given a rising life expectancy and an aging population in Japan, health insurance has become the leading type of new individual life policies issued in recent years. Health insurance and other insurances that cover medical and care expenses, such as cancer insurance, fall under the category of the so-called third sector insurances in Japan. Until 2001, only foreign life insurers were allowed to sell third sector insurance products. As a result of deregulations in the insurance industry, domestic insurers also began to offer third sector insurance.

Total income from life insurance premiums in Japan in fiscal years 2011 to 2019

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Source

Release date

December 2020

Region

Japan

Survey time period

fiscal year 2011 to 2019; the Japanese fiscal year starts on April 1 of the stated year and ends on March 31 of the following year

Supplementary notes

1 Japanese yen equals 0.0096 U.S. dollars or 0.0079 euros as of January 2021.
Figures have been rounded.
Data prior to 2015 come from previous reporting.

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Statistics on "Insurance industry in Japan"

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