Non-Life Insurance in Japan
Non-Life Insurance in Japan
Summary
Non-Life Insurance in Japan industry profile provides top-line qualitative and quantitative summary information including: market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
Summary
Non-Life Insurance in Japan industry profile provides top-line qualitative and quantitative summary information including: market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Non-life insurance is defined as any insurance not determined to be life insurance. It includes automobile and homeowners' policies and provides payments depending on the loss from a particular financial event. The market value is measured by the written premium generated by market players within a given year.
- The Japanese non-life insurance market recorded written premiums of $82.0 billion in 2023, representing a negative compound annual growth rate (CAGR) of 3.7% between 2018 and 2023.
- The motor segment accounted for the market's largest proportion in 2023, with total written premiums of $39.8 billion, equivalent to 48.5% of the market's overall value.
- Rising inflation pressured the Japanese non-life insurance market by increasing costs for both insurers and consumers. The National Statistics Office reports that Japan’s consumer price inflation of health reached 1.9% in 2023, up from -0.3% from the previous year. This elevated the cost of premiums and claims, discouraging new policy purchases and renewals, thereby dampening overall market growth.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in Japan
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in Japan
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Japan non-life insurance market with five year forecasts
- What was the size of the Japan non-life insurance market by value in 2023?
- What will be the size of the Japan non-life insurance market in 2028?
- What factors are affecting the strength of competition in the Japan non-life insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up Japan's non-life insurance market?
1 EXECUTIVE SUMMARY
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market rivalry
1.6. Competitive landscape
2 MARKET OVERVIEW
2.1. Market definition
2.2. Market analysis
3 MARKET DATA
3.1. Market value
4 MARKET SEGMENTATION
4.1. Category segmentation
4.2. Geography segmentation
5 MARKET OUTLOOK
5.1. Market value forecast
6 FIVE FORCES ANALYSIS
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 COMPETITIVE LANDSCAPE
7.1. Who are the leading players?
7.2. What are the strategies of the leading players?
7.3. What are the strengths of the leading players?
8 COMPANY PROFILES
8.1. Tokio Marine Holdings Inc
8.2. MS&AD Insurance Group Holdings, Inc.
8.3. Sompo Holdings, Inc.
9 MACROECONOMIC INDICATORS
9.1. Country data
10 APPENDIX
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market rivalry
1.6. Competitive landscape
2 MARKET OVERVIEW
2.1. Market definition
2.2. Market analysis
3 MARKET DATA
3.1. Market value
4 MARKET SEGMENTATION
4.1. Category segmentation
4.2. Geography segmentation
5 MARKET OUTLOOK
5.1. Market value forecast
6 FIVE FORCES ANALYSIS
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 COMPETITIVE LANDSCAPE
7.1. Who are the leading players?
7.2. What are the strategies of the leading players?
7.3. What are the strengths of the leading players?
8 COMPANY PROFILES
8.1. Tokio Marine Holdings Inc
8.2. MS&AD Insurance Group Holdings, Inc.
8.3. Sompo Holdings, Inc.
9 MACROECONOMIC INDICATORS
9.1. Country data
10 APPENDIX
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
LIST OF TABLES
Table 1: Japan non-life insurance market value: $ billion, 2018-23
Table 2: Japan non-life insurance market category segmentation: % share, by value, 2018-23
Table 3: Japan non-life insurance market category segmentation: $ billion, 2018-23
Table 4: Japan non-life insurance market geography segmentation: $ billion, 2023
Table 5: Japan non-life insurance market value forecast: $ billion, 2023-28
Table 6: Tokio Marine Holdings Inc: Key Facts
Table 7: Tokio Marine Holdings Inc: Annual Financial Ratios
Table 8: Tokio Marine Holdings Inc: Key Employees
Table 9: Tokio Marine Holdings Inc: Key Employees Continued
Table 10: MS&AD Insurance Group Holdings, Inc.: Key Facts
Table 11: MS&AD Insurance Group Holdings, Inc.: Annual Financial Ratios
Table 12: MS&AD Insurance Group Holdings, Inc.: Key Employees
Table 13: Sompo Holdings, Inc.: Key Facts
Table 14: Sompo Holdings, Inc.: Annual Financial Ratios
Table 15: Sompo Holdings, Inc.: Key Employees
Table 16: Sompo Holdings, Inc.: Key Employees Continued
Table 17: Japan Size of Population (million), 2019-23
Table 18: Japan Real GDP (Constant 2010 Prices, $ Billion), 2019-23
Table 19: Japan GDP (Current Prices, $ Billion), 2019-23
Table 20: Japan Inflation, 2019-23
Table 21: Japan Consumer Price Index (Absolute), 2019-23
Table 22: Japan Exchange Rate, 2018-23
Table 1: Japan non-life insurance market value: $ billion, 2018-23
Table 2: Japan non-life insurance market category segmentation: % share, by value, 2018-23
Table 3: Japan non-life insurance market category segmentation: $ billion, 2018-23
Table 4: Japan non-life insurance market geography segmentation: $ billion, 2023
Table 5: Japan non-life insurance market value forecast: $ billion, 2023-28
Table 6: Tokio Marine Holdings Inc: Key Facts
Table 7: Tokio Marine Holdings Inc: Annual Financial Ratios
Table 8: Tokio Marine Holdings Inc: Key Employees
Table 9: Tokio Marine Holdings Inc: Key Employees Continued
Table 10: MS&AD Insurance Group Holdings, Inc.: Key Facts
Table 11: MS&AD Insurance Group Holdings, Inc.: Annual Financial Ratios
Table 12: MS&AD Insurance Group Holdings, Inc.: Key Employees
Table 13: Sompo Holdings, Inc.: Key Facts
Table 14: Sompo Holdings, Inc.: Annual Financial Ratios
Table 15: Sompo Holdings, Inc.: Key Employees
Table 16: Sompo Holdings, Inc.: Key Employees Continued
Table 17: Japan Size of Population (million), 2019-23
Table 18: Japan Real GDP (Constant 2010 Prices, $ Billion), 2019-23
Table 19: Japan GDP (Current Prices, $ Billion), 2019-23
Table 20: Japan Inflation, 2019-23
Table 21: Japan Consumer Price Index (Absolute), 2019-23
Table 22: Japan Exchange Rate, 2018-23
LIST OF FIGURES
Figure 1: Japan non-life insurance market value: $ billion, 2018-23
Figure 2: Japan non-life insurance market category segmentation: $ billion, 2018-23
Figure 3: Japan non-life insurance market geography segmentation: % share, by value, 2023
Figure 4: Japan non-life insurance market value forecast: $ billion, 2023-28
Figure 5: Forces driving competition in the non-life insurance market in Japan, 2023
Figure 6: Drivers of buyer power in the non-life insurance market in Japan, 2023
Figure 7: Drivers of supplier power in the non-life insurance market in Japan, 2023
Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in Japan, 2023
Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in Japan, 2023
Figure 10: Drivers of degree of rivalry in the non-life insurance market in Japan, 2023
Figure 1: Japan non-life insurance market value: $ billion, 2018-23
Figure 2: Japan non-life insurance market category segmentation: $ billion, 2018-23
Figure 3: Japan non-life insurance market geography segmentation: % share, by value, 2023
Figure 4: Japan non-life insurance market value forecast: $ billion, 2023-28
Figure 5: Forces driving competition in the non-life insurance market in Japan, 2023
Figure 6: Drivers of buyer power in the non-life insurance market in Japan, 2023
Figure 7: Drivers of supplier power in the non-life insurance market in Japan, 2023
Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in Japan, 2023
Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in Japan, 2023
Figure 10: Drivers of degree of rivalry in the non-life insurance market in Japan, 2023
