Aug 11, 2015

Dai-ichi becomes Japan's most profitable life insurer

Dai-ichi Life Insurance Co.’s core business profit in April-June jumped 56.8 percent from a year earlier to ¥160.5 billion. It ranked top in the nation’s life insurance industry also in terms of revenue from premiums. Core profit at Nippon Life Insurance Co., which had ...

Jul 13, 2015

Japan to halt trade insurance for Venezuela

Nippon Export and Investment Insurance, or NEXI, has said it will phase out the underwriting of new trade insurance for deals with Venezuela beginning Tuesday. The decision, announced Sunday, reflects concern that Venezuela, a major oil producer, may fail to fulfill its payment obligations ...

Jun 25, 2015

Quake insurance premiums to rise an average of 19%

A Japanese government advisory panel approved a proposal on Wednesday to raise earthquake insurance premiums by an average of 19 percent in stages, starting in January 2017. It will be the first hike since July 2014 for premiums on earthquake insurance policies jointly offered ...

May 31, 2015

Okinawans face hike in auto insurance premiums

Japan’s nonlife insurers plan to raise auto insurance premiums on Okinawa in October, informed sources said. The hikes, expected at around 10 percent, reflect the rise of accidents in the prefecture as both tourism and car ownership grow, sources said. A rise in vehicle ...

May 19, 2015

Nippon Life to buy insurance agencies operator

Nippon Life Insurance Co. plans to acquire an operator of independent insurance agencies to expand sales channels and better respond to customer demands, sources close to the matter said Tuesday. Nippon Life, one of the biggest Japanese life insurers, will buy a more than ...

Mar 31, 2015

Administration to push major revisions to Civil Code

The Abe administration gave the go-ahead Tuesday to carry out major revisions to claims-related sections in the Civil Code for the first time in about 120 years. The proposed revisions to the Civil Code, which was established in 1896, are designed to introduce rules ...

Mar 11, 2015

Four Japanese life insurers mull dividend hikes

Four major life insurers are expected to increase dividend payments to individual policyholders for fiscal 2014, which ends this month, informed sources said Wednesday. Nippon Life Insurance Co. will raise payments for the first time since fiscal 2007, before the financial crisis following the ...

Mar 6, 2015

Sompo Japan to purchase 15% stake in French re-insurer Scor

Sompo Japan Nipponkoa Holdings Inc. will buy a 15 percent stake in French re-insurer Scor SE in potentially its biggest-ever overseas investment. The insurer will initially buy 7.8 percent from Swiss fund Patinex AG and eventually increase ownership to at least 15 percent, including ...

Mar 5, 2015

TV celeb Rola's dad gets suspended term for insurance fraud

The Tokyo District Court on Thursday sentenced the father of television personality Rola to two years and six months in prison, suspended for four years, for swindling the national medical and insurance system out of ¥1.67 million ($14,000). In handing down the ruling on ...