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Japanese life insurers’ premium income doubles to $159b in November
Total assets also doubled to $2.6t.
The premium income of 41 Japanese life insurers doubled (101.8%) to $159.25b (¥24.5t) on a year-on-year (YoY) basis in the seven months to November, data from the Life Insurance Association of Japan showed.
Claims paid also nearly doubled (96.5% YoY) to $38.35b (¥5.9t). Annuities paid also grew twofold to $19.5b (¥3.0t).
Assets of Japanese insurers also doubled to $2.61t (¥402.2t).
The period also saw all new business segments post double to triple-digit growth rates.
Both volumes of individual insurance and annuity surged 104.4% YoY and 121.5% YoY to, accordingly.
Similarly, group insurance and annuity both increased 61.5% YoY and 22.4% YoY.
($1.00 = ¥154.4)
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