All five of Japan’s major nonlife insurers saw year-on-year premium income growth in the April-September first half, according to data released by the companies.
Auto insurance premium revenue was strong on the back of the government’s subsidy program for purchases of environmentally friendly vehicles.
Tokio Marine & Nichido Fire Insurance Co., the largest of the five, saw its premium income rise 5.7 percent to ¥977.34 billion.
Mitsui Sumitomo Insurance Co. posted premium income of ¥708.76 billion, up 4.5 percent, partly because of strong sales of insurance products related to huge solar power projects.
Aioi Nissay Dowa Insurance Co. logged ¥600.32 billion in premium income, up 2.2 percent.
Premium income came to ¥704.99 billion at Sompo Japan Insurance Inc., up 3.0 percent, and to ¥337.06 billion at Nipponkoa Insurance Co., up 1.0 percent.