Net premiums written non-life insurers Japan FY 2013-2022

Net premiums written by general insurance companies in Japan totaled around 9.1 trillion Japanese yen in the fiscal year 2022, up from 8.8 trillion yen in the previous year.

Leading segments of the P&C insurance market

Voluntary automobile insurance was the largest business line, making up nearly half of net premiums written by private insurers. The second-largest segment in Japan’s general insurance market was fire insurance. Fire insurance is property insurance that protects buildings, dwellings, and household goods against damage caused by fire, various weather phenomena, and theft. To protect their homes against damage caused by earthquakes, consumers have to purchase earthquake insurance as an add-on to fire insurance. Over one-third of households in Japan were covered by earthquake insurance in 2022.

Japan's non-life insurance market

Japan’s general insurance market is among the largest in the world. Non-life insurance penetration, or gross premiums written as a percentage of the GDP, stood at 1.8 percent in the fiscal year 2021, and the average per capita spending on non-life insurance was 705 U.S. dollars. The market is dominated by the three largest property and casualty insurance groups, Tokio Marine Holdings, MS&AD Holdings, and Sompo Holdings. They generated net premiums written of over 12 trillion yen in fiscal 2022.