Boston, MA -- (SBWIRE) -- 01/06/2014 -- 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 (2008-2012), 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. The liberalization of bancassurance and the occurrence of the earthquake in 2011 fuelled growth in the property and earthquake insurance categories. These factors, coupled with improving business and economic conditions, are expected to drive growth in the non-life segment over the forecast period.

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Key Highlights

- The Japanese non-life insurance 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 introduction of subsidies by the government on eco-friendly vehicles encouraged growth in the segment, generating business for the third-party motor insurance sub-category
- During 2000-2010, the non-life segment recorded a decline in direct premiums by 14%
- The leading non-life insurance products sold in Japan were motor, fire, compulsory motor liability, and general liability insurance
- During the review period, the agencies channel underwent a period of consolidation as smaller companies were acquired by larger firms
- As of July 2012, there were 53 insurance providers licensed to conduct general insurance business in Japan, out of which 29 were domestic and 24 were foreign insurance providers

Scope

This report provides a comprehensive analysis of the non-life insurance segment in Japan:

- It provides historical values for Japan's non-life insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in Japan's non-life insurance segment, along with market forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for non-life insurance products in Japan
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Japan for the non-life insurance segment

Companies Mentioned in this Report: Tokio Marine & Nichido Fire Insurance Co., Ltd, Sompo Japan, Mitsui Sumitomo Insurance, Aioi Nissay Dowa Insurance Company, Nipponkoa Insurance, The Fuji Fire and Marine Insurance Company, Kyoei Fire & Marine Insurance Co., Ltd, The Nisshin Fire & Marine Insurance Co., Ltd, The Toa Reinsurance Company Limited, The Japan Earthquake Reinsurance Co., Ltd

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