2014-03-18 06:55:01 - Non-Life Insurance in Japan, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com
By global standards, the size and importance of the Japanese non-life insurance segment is high: the segment´s gross written premium reached JPY7.2 trillion (US$89.8 billion) in 2012, equivalent to 6.6% of the global non-life premium, second only to the US. The segment is mature and concentrated with the four leading firms collectively accounting for 79.1% of the segment´s written premium in 2011.
Despite weak economic development during the review period (2008â2012), the non-life segment achieved positive growth during the period at a compound annual growth rate (CAGR) of 1.0%. Subsidies provided by the Japanese government on eco-friendly automobiles encouraged growth, generating business for the third-party motor insurance sub-category.
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