General Insurance Association of Japan (GIAJ) Chairman Koji Ishikawa has addressed the industry, present policyholders, prospective insurance customers and other stakeholders of the industry in the country. Mr Ishikawa had taken charge as Chairman of GIAJ in late June this year.
The East Asian Insurance Congress (EAIC) announced the incoming executive board members for the 32nd EAIC. Mr Koji Takahashi was announced at EAIC President, while Dr Somporn Suebthawilkul was announced as Vice President.
Japan has a secondary peril profile that is fundamentally different from the global pattern. While global discussions often emphasise hail, tornadoes, and wildfires, Japan's risk landscape is more strongly influenced by flood and snow, with convective storm activity playing a comparatively limited role.
The 31st East Asian Insurance Congress opened in Tokyo yesterday evening, returning the gathering to the city where it began in 1964 for a fourth time in more than six decades. The theme, "Back to the Origin, A Bridge to the Future," called to mind the region's insurance history, the Congress' storied past and the many relationships that were built throughout its 62 years.
Marsh Re has announced the appointments of Mr James Beedle to its Pacific board of directors, subject to regulatory approval, and Mr Justin Ward as CEO of APAC.
In recent years, extreme precipitation associated with linear rainbands has triggered large-scale flooding and landslides, leading to more severe and costly loss events in Japan. Events such as the widespread heavy rainfall experienced during Japan's 2023 summer rainy season have demonstrated the significant losses that extreme precipitation can cause.
Sompo Japan has entered a partnership with satellite-based intelligence data provider, ICEYE to enhance its response to flood events and support customers affected by natural disasters.
Japan's life reinsurance market has undergone quantitative expansion with an increase in ceded volume, as well as qualitative evolution involving a fundamental shift in the role of reinsurance, in recent years, according to The Toa Reinsurance Company (Toa Re).
Japan's insurance regulator has released new regulations, that will come into effect from 1 March 2028, requiring multi-insurer agencies to compare several products aligned with customer intent before making recommendations.
Over the past month, Asia has been hit by two Nat CAT events, namely typhoon Dolphin in China, the Philippines and Taiwan, and Japan's 5.9-magnitude earthquake.