Taiyo Life Insurance has signed and closed a $4bn reinsurance transaction with Fortitude Re. Under the transaction, Taiyo Life has reinsured a significant portion of its whole life annuity business to Fortitude Re. Taiyo Life will continue to service and administer the reinsured policies.
Mr Hiroaki Shirota, chairman of the General Insurance Association of Japan (GIAJ), has released the following statement:
The East Asian Insurance Congress (EAIC) has officially announced the dates and venue for its upcoming 2026 conference, which will take place in Tokyo, Japan.
Aon successfully completed the transaction to acquire the in-house insurance agency business of Mitsubishi Chemical Group (MCG) on 1 March 2025. The move was designed to enhance Aon's risk capital and human capital capabilities in Japan.
CreditSights has an Outperform recommendation on Meiji Yasuda, with the report noting that it was one of the top five largest life insurers in Japan, and has a solid balance sheet strength with one of the highest solvency margins among the leading companies. The report noted that its performance was adequate with a good core profit margin.
Japan Post Insurance plans to invest $2bn into a new reinsurance sidecar-like co-investment vehicle sponsored by US life, retirement and annuities insurance and reinsurance company, Global Atlantic Financial Group.
After a reported 2.1% growth in consolidated gross premium returns for both Fukoku Life and its standalone subsidiary Fukokushinrai Life, from JPY580.9bn ($3.9bn) in 9M2024 to JPY592.8bn in 9M2024, CreditSights has revised its recommendation for the company from Market perform to Outperform.
According to data published by the General Insurance Association of Japan, direct premiums written for non-life insurance in Japan for the fiscal year 2023 were approximately JPY9.9tn ($64.12bn).
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.