Hit by slumping share prices and mounting policy cancellations, the nation's top 11 life insurers are continuing to lose strength, earnings reports released Tuesday showed.
The combined value of policies in force at the nation's largest life insurers slipped 3.6 percent to 1.169 quadrillion yen from the end of last fiscal year, marking the fifth consecutive year-on-year decline.
The largest ones also saw their solvency margin ratios -- a key gauge of an insurer's financial strength -- fall in the nine months since Sept. 30, as weak share prices and ultralow interest rates eroded business conditions.