Life insurances dominate the Japanese marketThe insurance market in general can be divided into life insurance and non-life insurance, with the latter also being referred to as general insurance. Life insurance makes up the larger part of the insurance market in the case of Japan, with non-life insurance accounting for less than one-third of total gross premiums written.
Nippon Life, Dai-ichi Life, and Meiji Yasuda represent the leading life insurance groups in Japan. Some of Japan’s life insurers, such as Japan Post Insurance and Nippon Life Insurance, are among the largest insurance companies worldwide, based on revenue. The non-life insurance market is dominated by three insurance groups comprising Tokio Marine Holdings, Sompo Holdings, and MS&AD Insurance Group Holdings.