Japan Insurance Sector Growth & Forecast
The report analyses overall insurance sector in Japan with the performance of Life insurance and Non-life segments of the industry. It has talked about major market players performing on the same platform. The report gives light on current market performance and reasons leading to fluctuations in the industry. Japan Post insurance has a great significance in the market but recently hit by economic recession, which is expected to overcome in coming years. Here we have also discussed significance of motor insurance and other non-life insurance, which are responsible of sector growth or decline.
In recent years, the environment surrounding the life insurance industry has undergone major changes. On the demographic front, there has been a shift in insurance needs away from death benefits towards non-death benefits. Japan is one of the largest holders of life and health insurance in the world. The rate of life insurance is very high in the country, with over 90% of the population owning life insurance policies. Future outlook provides a better understanding of industry performance in coming years and factors responsible for the growth.
In recent years, the environment surrounding the life insurance industry has undergone major changes. On the demographic front, there has been a shift in insurance needs away from death benefits towards non-death benefits. Japan is one of the largest holders of life and health insurance in the world. The rate of life insurance is very high in the country, with over 90% of the population owning life insurance policies. Future outlook provides a better understanding of industry performance in coming years and factors responsible for the growth.
- Japan's life insurance companies invested ~% of total assets in securities, with a total amount of US$~ trillion by February 2009.
- In 2008 fiscal year, automobile insurance fell ~% to US$~ billion in net premiums and automobile liability insurance fell ~% to US$~ billion in net premiums.
- In 2008 Japan's eastern coast region consecutively experienced three strong earthquakes of magnitudes over 6. In Japan, earthquake insurance is usually purchased on top of a fire insurance policy.
- In terms of insurance premium, Japan is the third largest player worldwide; whereas in terms of insurance density its ranking is low.
- Japan has the second largest domestic automobile market in the world which makes a strong market for auto insurance in the country. The voluntary automobile insurance premium is the strongest driver of the total non-life insurance industry. In the 2008 fiscal year, automobile insurance fell 1.3% to US$~ billion in net premiums and automobile liability insurance fell 21.5% to US$~ billion in net premiums.
1. INDUSTRY SNAPSHOT
1.1 Industry Structure
1.2 Market Overview
1.2.1 Market Size & Growth
2. MARKET SEGMENTS
2.1 Life and Non-life Segments
2.2 Rising Demand for Earthquake Premium
3. MARKET DENSITY & PENETRATION
4. INDUSTRY FORCES
4.1 Health Insurance and Life Expectancy
4.2 Demand Depends upon the Demographic Structure
4.3 Growing Demand for Automobiles
5. FUTURE OUTLOOK AND OPPORTUNITIES
1.1 Industry Structure
1.2 Market Overview
1.2.1 Market Size & Growth
2. MARKET SEGMENTS
2.1 Life and Non-life Segments
2.2 Rising Demand for Earthquake Premium
3. MARKET DENSITY & PENETRATION
4. INDUSTRY FORCES
4.1 Health Insurance and Life Expectancy
4.2 Demand Depends upon the Demographic Structure
4.3 Growing Demand for Automobiles
5. FUTURE OUTLOOK AND OPPORTUNITIES
LIST OF CHARTS
Figure: Annual Premium – Japanese Insurance Industry: 2001-2008
Figure: Insurance Premium Share (%) by Segment – 2008
Figure: Insurance premium by segment – 2001-2008
Figure: Life Insurance Premium Share (%) by Segment – 2008
Figure: Non-Life Insurance Premium Share (%) by Segment – 2008
Figure: Ownership of Earthquake Insurance on Dwelling Risks Policies (2004-2008)
Figure: Insurance Density (US$) - Japan: 2001 – 2008
Figure: Insurance Penetration - Japan: 2001 – 2008
Figure: Medical Care Insurance Benefits (2000-2007)
Figure: Age Structure of Population by Country
Figure: Motor Vehicles Owned (1999-2008)
Figure: Voluntary Automobile Insurance Net Premium
Figure: Forecast: Japan Insurance Industry: 2008A - 2012F
Figure: Forecast: Japan Life & Non-Life Insurance Industry: 2008A - 2012F
Figure: Annual Premium – Japanese Insurance Industry: 2001-2008
Figure: Insurance Premium Share (%) by Segment – 2008
Figure: Insurance premium by segment – 2001-2008
Figure: Life Insurance Premium Share (%) by Segment – 2008
Figure: Non-Life Insurance Premium Share (%) by Segment – 2008
Figure: Ownership of Earthquake Insurance on Dwelling Risks Policies (2004-2008)
Figure: Insurance Density (US$) - Japan: 2001 – 2008
Figure: Insurance Penetration - Japan: 2001 – 2008
Figure: Medical Care Insurance Benefits (2000-2007)
Figure: Age Structure of Population by Country
Figure: Motor Vehicles Owned (1999-2008)
Figure: Voluntary Automobile Insurance Net Premium
Figure: Forecast: Japan Insurance Industry: 2008A - 2012F
Figure: Forecast: Japan Life & Non-Life Insurance Industry: 2008A - 2012F
LIST OF TABLES
Table: Premium – Japanese Life Insurance Industry: Q209 Vs. Q208
Table: Net Premiums by Line
Table: Average Monthly Expenditure for Medical Care per Household (Q107)
Table: Health care Sector in Japan (2005-2010E)
Table: Motor Vehicle Sales, Exports and Production in Japan (2008-2010)
Table: Statistics by Line (Apr. 1 - Sep. 30, 2009)
Table: Premium – Japanese Life Insurance Industry: Q209 Vs. Q208
Table: Net Premiums by Line
Table: Average Monthly Expenditure for Medical Care per Household (Q107)
Table: Health care Sector in Japan (2005-2010E)
Table: Motor Vehicle Sales, Exports and Production in Japan (2008-2010)
Table: Statistics by Line (Apr. 1 - Sep. 30, 2009)
