The development of Japanese life insurance industry is closely related to macro-economy. With the vigorous development of Japan's economy after the war, Japan's life insurance industry ushered in a golden age of development and became the largest life insurance market in the world in the 1990s. According to the statistics of Japan Life Insurance Association LIAJ, by the end of 20 14, the total assets of Japan's life insurance industry had reached 367.25 trillion yen and the annual premium income was 37.22 trillion yen. The insurance density of Japanese life insurance business is $2,926 per person and the insurance depth is 8.4%. The total premium scale is the second in the world, second only to the United States, and it belongs to a relatively mature insurance market.
The present situation of Japanese insurance market and the development of Japanese insurance industry. The government supervision and management institutions in Japan's insurance market are different due to different insurance organizations and business forms, and there are many related management institutions involved in the insurance market. Private insurance is managed by the Ministry of Finance; Simple life insurance and postal insurance belong to the management scope of the Ministry of Posts and Telecommunications; Agricultural insurance is under the jurisdiction of the Ministry of Agriculture and Forestry; Export credit insurance is managed by the Ministry of International Trade and Industry; Social insurance is managed by the Ministry of Health and Welfare and the Ministry of Labor. In short, there are many administrative agencies in Japan's insurance market, which is the main feature of Japanese insurance market supervision.
Japan's insurance has a long history, various forms and its own system, which has played an irreplaceable role in national life. What are the insurance companies in Japan? There are Japan Life Insurance Company, Japan First Life Insurance Company, Japan Meiji An Tian Life Insurance Company, Japan Sumitomo Life Insurance Company and Japan Sumitomo Mitsui Insurance Company.
1. Japan Post Insurance Company Limited
Japan Post Insurance Company was established in 187 1, and its main business is divided into three categories: postal service, savings service and simple insurance. In the past, Japan Post Company was a typical state-owned enterprise. In recent years, it has undergone two reforms and officially became a private enterprise. From 2003 10 to 1 year, Japan Post Company was divided into four companies, namely Postal Savings Bank, Postal Insurance Company, Post Office in charge of counter reception service and Postal Company in charge of mail delivery.
2. Japan Life Insurance Company
Japan Life Insurance Company, founded in 1889, is the largest life insurance company in Japan and the largest pension payment management institution in Japan.
3. Meiji An Tian Life Insurance Company
Meiji An Tian Life Insurance Company of Japan was formed by the merger of Meiji Life Insurance Company of Japan and An Tian Life Insurance Company. It is one of the largest life insurance companies in Japan, with total assets reaching 26.85 trillion yen, ranking third in the Japanese life insurance industry.
4. Japan First Life Insurance Company Limited.
1902, First Life Insurance Co., Ltd. was established as the first mutual insurance company in Japan. On April 20 10, it was reorganized into a joint-stock company and listed on the Tokyo Stock Exchange.
5. Sumitomo Mitsui Insurance Company of Japan