• Japan: number general insurance companies by type 2021

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A total of 54 general insurance companies were operating in Japan as of November 2021. Of this number, 33 companies were licensed as domestic insurers.

Domestic non-life insurance market

Based on net premiums written, Japan’s non-life insurance market was valued at over eight trillion yen in fiscal year 2019. The market is dominated by three insurance groups, Tokio Marine Holdings, MS&AD Insurance Group Holdings, and Sompo Holdings and their subsidiaries, which together have a market share of almost 90 percent and generated a net income of 448.6 billion Japanese yen.

Foreign non-life insurers in Japan

Next to around 21 foreign insurers licensed as branches or agencies, the number of domestic property and casualty insurers in Japan included seven companies under foreign ownership. One of the leading foreign non-life insurers in Japan based on premium income and number of employees was the foreign-controlled AIG General Insurance Company.