2014-03-18 06:52:02 - Life Insurance in Japan, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com
The Japanese life insurance segment is the second-largest in the world, behind only the US, with 18â19% of the global life insurance written premium value in 2012. Japan registered stable growth in life insurance business during the review period (2008â2012), with gross written premium expanding at a compound annual growth rate (CAGR) of 3.9% to value JPY31.7 trillion (US$397.6 billion) in 2012.
The aging population, government reforms and the devastating earthquake in 2011 entrenched the need for insurance products, leading to expansion in the segment´s assets from JPY306.4 trillion (US$2.9 trillion) in 2008 to JPY337.9 trillion (US$4.2 trillion) in 2012. The life insurance segment was mature in 2012 with a penetration of 6.7%, compared to the global average of 4.0%.
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