Non-Life Insurance in Japan, Key Trends and Opportunities to 2020

Published: Feb, 2017 | Pages: 130 | Publisher: Timetric
Industry: Pet Food | Report Format: Electronic (PDF)

Synopsis
Timetric's 'Non-Life Insurance in Japan, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Japanese non-life insurance segment, and a comparison of the Japanese insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Japanese economy and demographics, explains the various types of natural hazard and their impact on the Japanese insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric's 'Non-Life Insurance in Japan, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Japanese non-life insurance segment, including:

• The Japanese non-life segment's detailed outlook by product category

• A comprehensive overview of the Japanese economy and demographics

• A comparison of the Japanese non-life insurance segment with its regional counterparts

• The various distribution channels in the Japanese non-life insurance segment

• Detailed analysis of natural hazards and their impact on the Japanese insurance industry

• Details of the competitive landscape in the non-life insurance segment in Japan

• Details of regulatory policy applicable to the Japanese insurance industry

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

• It provides historical values for the Japanese non-life insurance segment for the report's 2011-2015 review period, and projected figures for the 2015-2020 forecast period.

• It offers a detailed analysis of the key categories in the Japanese non-life insurance segment, and market forecasts to 2020.

• It provides a comparison of the Japanese non-life insurance segment with its regional counterparts

• It analyzes the various distribution channels for non-life insurance products in Japan.

• It analyzes various natural hazards and their impact on the Japanese insurance industry

• It profiles the top non-life insurance companies in Japan, and outlines the key regulations affecting them.

Reasons To Buy
• Make strategic business decisions using in-depth historic and forecast market data related to the Japanese non-life insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Japanese non-life insurance segment.

• Assess the competitive dynamics in the non-life insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Japanese insurance industry, and their impact on companies and the industry's future.

Key Highlights
• The Japanese non-life insurance segment was the third-largest in the world in 2015, in terms of direct written premium. 

• The segment accounted for 4.7% of the global non-life gross written premium. The segment's gross written premium grew at a review-period (2011-2015) compound annual growth rate (CAGR) of 4.9%. 

• Motor insurance was the largest non-life category, accounting for 61.7% of the segment's gross written premium in 2015.

• Effective from October 2015, the increase in fire insurance premiums, at an average of 2-4%, will negatively affect the property insurance category over the forecast period. 

• Marine insurers are highly exposed to catastrophic risk, due to the increasing size of ships and increasing capacities of ports and storage facilities. 

• Workmen's compensation insurance is compulsory for all organizations in Japan. It is being regulated and supervised by the Ministry of Health, Labour and Welfare under the social insurance system.

 Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Profitability
4.2.4 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Claims
5.1.4 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Claims
5.2.4 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Claims
5.3.4 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Claims
5.4.4 Profitability
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Agencies
6.1.2 Direct marketing
6.1.3 Brokers
7 Natural and Man-made Hazards
7.1 Earthquake and Tsunamis
7.2 Volcanic Activity
7.3 Typhoons
7.4 Floods
7.5 Exposure
8 Competitive Landscape
8.1 Company Profiles
8.1.1 Sompo Japan Nipponkoa Insurance Inc. - company overview
8.1.2 Tokio Marine & Nichido Fire Insurance Co. Ltd - company overview
8.1.3 Mitsui Sumitomo Insurance Co. Ltd - company overview
8.1.4 Aioi Nissay Dowa Insurance Co. Ltd - company overview
8.1.5 The Fuji Fire and Marine Insurance Co. Ltd - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulation
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Automobile liability insurance
9.4.2 Workers' accident compensation insurance
9.4.3 Liability insurance for nuclear risks
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors (IAIS)
9.5.2 Financial Services Agency
9.5.3 Local Finance Bureau of the Ministry of Finance
9.5.4 The General Insurance Association of Japan (GIAJ)
9.5.5 The Life Insurance Association of Japan (LIAJ)
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Type of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margin
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution
10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Direct Marketing and E-Commerce
10.5 Insurance Brokers and Agencies
10.6 Property Insurance
10.7 Property Insurance by Product
10.8 Motor Insurance
10.9 Motor Insurance by Product
10.10 Liability Insurance 121
10.11 Marine, Aviation and Transit Insurance 122
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer

List of Tables
Table 1: Japanese Non-Life Insurance - Key Facts, 2015
Table 2: Japanese Non-Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Japanese Government Credit Ratings
Table 4: Japanese Non-Life Insurance - Gross Written Premium (JPY Trillion and US$ Billion), 2011-2015
Table 5: Japanese Non-Life Insurance - Penetration (%), 2011-2015
Table 6: Japanese Non-Life Insurance - Gross Written Premium (JPY Trillion and US$ Billion), 2015-2020
Table 7: Japanese Non-Life Insurance - Penetration (%), 2015-2020
Table 8: Japanese Non-Life Insurance - Premium per Capita (JPY and US$), 2011-2015
Table 9: Japanese Non-Life Insurance - Premium per Capita (JPY and US$), 2015-2020
Table 10: Japanese Non-Life Insurance - Paid Claims (JPY Trillion and US$ Billion), 2011-2015
Table 11: Japanese Non-Life Insurance - Paid Claims (JPY Trillion and US$ Billion), 2015-2020
Table 12: Japanese Non-Life Insurance - Profitability Ratio (%), 2011-2015
Table 13: Japanese Non-Life Insurance - Profitability Ratio (%), 2015-2020
Table 14: Japanese Non-Life Insurance - Total Assets (JPY Trillion and US$ Billion), 2011-2015
Table 15: Japanese Non-Life Insurance - Total Assets (JPY Trillion and US$ Billion), 2015-2020
Table 16: Japanese Non-Life Insurance - Total Investment Income (JPY Billion and US$ Billion), 2011-2015
Table 17: Japanese Non-Life Insurance - Total Investment Income (JPY Billion and US$ Billion), 2015-2020
Table 18: Japanese Non-Life Insurance - Investment Portfolio (JPY Billion), 2011-2015
Table 19: Japanese Non-Life Insurance - Investment Portfolio (JPY Billion), 2015-2020
Table 20: Japanese Non-Life Insurance - Direct Written Premium by Category (JPY Trillion), 2011-2015
Table 21: Japanese Non-Life Insurance - Direct Written Premium by Category (JPY Trillion), 2015-2020
Table 22: Japanese Property Insurance - Direct Written Premium by Sub-Category (JPY Billion), 2011-2015
Table 23: Japanese Property Insurance - Direct Written Premium by Sub-Category (JPY Billion), 2015-2020
Table 24: Japanese Property Insurance - Paid Claims (JPY Trillion and US$ Billion), 2011-2015
Table 25: Japanese Property Insurance - Paid Claims (JPY Trillion and US$ Billion), 2015-2020
Table 26: Japanese Property Insurance - Loss Ratio (%), 2011-2015
Table 27: Japanese Property Insurance - Loss Ratio (%), 2015-2020
Table 28: Japanese Motor Insurance - Direct Written Premium by Sub-Category (JPY Trillion), 2011-2015
Table 29: Japanese Motor Insurance - Direct Written Premium by Sub-Category (JPY Trillion), 2015-2020
Table 30: Japanese Motor Insurance - Paid Claims (JPY Trillion and US$ Billion), 2011-2015
Table 31: Japanese Motor Insurance - Paid Claims (JPY Trillion and US$ Billion), 2015-2020
Table 32: Japanese Motor Insurance - Loss Ratio (%), 2011-2015
Table 33: Japanese Motor Insurance - Loss Ratio (%), 2015-2020
Table 34: Japanese Liability Insurance - Direct Written Premium by Sub-Category (JPY Billion), 2011-2015
Table 35: Japanese Liability Insurance - Direct Written Premium by Sub-Category (JPY Billion), 2015-2020
Table 36: Japanese Liability Insurance - Paid Claims (JPY Billion and US$ Billion), 2011-2015
Table 37: Japanese Liability Insurance - Paid Claims (JPY Billion and US$ Billion), 2015-2020
Table 38: Japanese Liability Insurance - Loss Ratio (%), 2011-2015
Table 39: Japanese Liability Insurance - Loss Ratio (%), 2015-2020
Table 40: Japanese Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (JPY Billion), 2011-2015
Table 41: Japanese Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (JPY Billion), 2015-2020
Table 42: Japanese Marine, Aviation and Transit Insurance - Paid Claims (JPY Billion and US$ Billion), 2011-2015
Table 43: Japanese Marine, Aviation and Transit Insurance - Paid Claims (JPY Billion and US$ Billion), 2015-2020
Table 44: Japanese Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
Table 45: Japanese Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
Table 46: Japanese Non-Life Insurance - Direct Written Premium by Distribution Channel (JPY Billion), 2011-2015
Table 47: Japanese Non-Life Insurance - Direct Written Premium by Distribution Channel (JPY Billion), 2015-2020
Table 48: Japanese Non-Life Insurance - Percentage of Direct Written Premium, by Distribution Channel, 2011-2020
Table 49: Japanese Average Annual Loss by Hazard
Table 50: Japanese Non-Life Segment - Market Shares of Leading Insurers (%), 2015
Table 51: Sompo Japan Nipponkoa Insurance Inc - Key Facts
Table 52: Sompo Japan Nipponkoa Insurance Inc - Key Financials (JPY Billion), 2011-2015
Table 53: Tokio Marine & Nichido Fire Insurance Co. - Key Facts
Table 54: Tokio Marine & Nichido Fire Insurance Co. - Key Financials (JPY Billion), 2011-2015
Table 55: Mitsui Sumitomo Insurance Co., Ltd - Key Facts
Table 56: Mitsui Sumitomo Insurance Co. Ltd - Key Financials (JPY Billion), 2011-2015
Table 57: Aioi Nissay Dowa Insurance Co. Ltd - Key Facts
Table 58: Aioi Nissay Dowa Insurance Co., Ltd - Key Financials (JPY Billion), 2011-2015
Table 59: The Fuji Fire and Marine Insurance Co., Ltd - Key Facts
Table 60: The Fuji Fire and Marine Insurance Co., Ltd - Key Financials (JPY Billion), 2011-2015
Table 61: Japan - Insurance Regulatory Framework Key Features
Table 62: Japan - Life Insurance Regulatory Framework
Table 63: Japan - Property Insurance Regulatory Framework
Table 64: Japan - Premium Rates for Earthquake Insurance
Table 65: Japan- Motor Insurance Regulatory Framework
Table 66: Japan - Liability Insurance Regulatory Framework
Table 67: Japan - CALI Premium Rates for Different Types of Motor Vehicles (in JPY)
Table 68: Japan - Corporate Tax Rates for the Financial Year 2016
Table 69: Japanese Insurance Industry - Policies and Premium, 2011-2015
Table 70: Japanese Insurance Industry - Policies and Premium, 2015-2020
Table 71: Japanese Non-Life Insurance - Claims and Expenses, 2011-2015
Table 72: Japanese Non-Life Insurance - Claims and Expenses, 2015-2020
Table 73: Japanese Non-Life Insurance - Assets and Investments, 2011-2015
Table 74: Japanese Non-Life Insurance - Assets and Investments, 2015-2020
Table 75: Japanese Non-Life Insurance - Direct Marketing and E-Commerce, 2011-2015
Table 76: Japanese Non-Life Insurance - Direct Marketing and E-Commerce, 2015-2020
Table 77: Japanese Non-Life Insurance - Insurance Brokers and Agencies, 2011-2015
Table 78: Japanese Non-Life Insurance - Insurance Brokers and Agencies, 2015-2020
Table 79: Japanese Non-Life Insurance - Property Insurance, 2011-2015
Table 80: Japanese Non-Life Insurance - Property Insurance, 2015-2020
Table 81: Japanese Non-Life Insurance - Property Insurance by Product, 2011-2015
Table 82: Japanese Non-Life Insurance - Property Insurance by Product, 2015-2020
Table 83: Japanese Non-Life Insurance - Motor Insurance, 2011-2015
Table 84: Japanese Non-Life Insurance - Motor Insurance, 2015-2020
Table 85: Japanese Non-Life Insurance - Motor Insurance by Product, 2011-2015
Table 86: Japanese Non-Life Insurance - Motor Insurance by Product, 2015-2020
Table 87: Japanese Non-Life Insurance - Liability Insurance, 2011-2015
Table 88: Japanese Non-Life Insurance - Liability Insurance, 2015-2020
Table 89: Japanese Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
Table 90: Japanese Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
Table 91: Insurance Industry Definitions