WTW business Willis has appointed Mr Kohsuke Komorizono as head of risk and analytics for Corporate Risk and Broking Japan.
Meiji Yasuda Life Insurance will acquire Banner Life Insurance for ¥352.2bn ($2.3bn) and also invest ¥130bn for a 5% equity stake in the US firm's parent, Britain's Legal & General Group. As the domestic market shrinks, a number of Japanese life insurers are expanding overseas for growth.
Japanese trading firm Itochu is set to purchase a 20% stake in Thailand's non-life insurer Thaivivat Insurance. According to a release by Itochu, it will invest around THB1bn ($29m) to buy new shares issued by the Thai company.
As the Japanese demography moves to the super-aged stage, the country's general insurance industry foresees challenges ahead. The immediate demographic challenge for the Japanese non-life insurance industry is lack of growth in the domestic market for its traditional products.
FWD Japan has appointed Mr Tsuyoshi Ijichi as representative director, president and CEO, effective 14 January 2025.
As the year 2025 unfolds, I would like to express my heartfelt greetings for the season.
Sedgwick has appointed Mr Cameron Lee as CEO for Taiwan; Mr Huoo-Lian "Andy" Liou as chairman for Taiwan; Mr Shuji Tanaka as CEO for operations for Japan and Mr Takeshi Nagao as chairman for Japan.
In the wake of the cease-and-desist orders and the surcharge payment orders issued by the Japan Fair Trade Commission (JFTC) to four member companies of the General Insurance Association of Japan (GIAJ) under the Antimonopoly Act, GIAJ chairman Hiroaki Shirota released the following statement.
Nippon Life has appointed Mr Hiroshi Shimizu as chairman and Mr Satoshi Asahi as president. Both appointments are effective 1 April 2025.
The life and non-life insurance sectors in Japan in 2025 are expected to show strengthened capitalisation and healthy underwriting margins, says Fitch Ratings.