Japan Property & Casualty Insurance Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The report covers Japan Property & Casualty Insurance Companies and the market is segmented by Insurance Type (Property, Auto, and Other Insurance Types) and Distribution Channel (Direct, Agents, Banks, and Other Distribution Channels).

Japan Property & Casualty Insurance Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Japan Property & Casualty Insurance Market Size

Japan Property and Casualty Insurance Market Size
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 4.00 %
Market Concentration Medium

Major Players

Japan Property & Casualty Insurance Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Japan Property & Casualty Insurance Market Analysis

The Japan Property & Casualty Insurance Market is expected to register a CAGR of greater than 4% during the forecast period.

The insurance market in Japan is one of the world's largest. Japan's property and casualty insurance market, at JPY 9 trillion in premiums, is the world's fourth-largest.

Japanese insurers have mobilized rapidly in response to the COVID-19 pandemic. The sudden decrease in interest rates and significant restrictions on people's movement are necessitating changes to product portfolios, distribution models, and business operations.

The three biggest Japanese P&C insurance businesses' COVID-19 pandemic-related losses for international business in 2020 were fully offset by strong profits from home business. To keep capitalization robust, MS&AD Insurance Group, Sompo Holdings, and Tokio Marine Holdings (TMH) are anticipated to maintain conservative capital management.

Japanese property and casualty insurers also have very strong sub-limits, which limit the amount of coverage available to cover a specific type of loss. As of November 2021, there are 54 private non-life insurance companies in Japan. There are 30 domestic insurance companies and 20 branches of foreign insurers, and the Society of Lloyd's (Lloyd's). Due to the falling birth rate and the aging population, the non-life insurance market is shrinking and becoming more competitive.

The domestic market is largely an oligopoly. The three largest insurers hold 85.6% of the market share, while foreign insurers hold only 8%. More non-insurance companies (largely financial services players) are entering the P&C market, which could significantly impact the dominant position of the top P&C insurers. The increase in damage from severe natural disasters in Japan is leading P&C insurers to redefine risk profiles using the most up-to-date technologies. Further, they will look to adopt advanced technologies to reduce the high cost and inefficiency of legacy systems and improve their operational agility.

Japan Property & Casualty Insurance Industry Overview

The report covers major international players operating in the Japanese property and casualty market. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

Japan Property & Casualty Insurance Market Leaders

  1. MS&AD Insurance Group Holdings, Inc

  2. Tokio Marine & Nichido Fire Insurance Co., Ltd.

  3. Sompo Holdings Inc.

  4. Rakuten General Insurance Co., Ltd.

  5. Nisshin Fire & Marine Insurance Co., Ltd.

  6. *Disclaimer: Major Players sorted in no particular order
MS&AD Insurance Group Holdings, Inc, Tokio Marine & Nichido Fire Insurance Co., Ltd., Sompo Holdings Inc., Rakuten General Insurance Co., Ltd., Nisshin Fire & Marine Insurance Co., Ltd.
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Japan Property & Casualty Insurance Market News

July 2021 - Sompo International Holdings Ltd, a global, Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced the launch of its Sompo Women in Insurance Management (SWIM) program, which aims to better prepare young women to assume future leadership roles at Sompo International. The initial program will begin in the United States in collaboration with High Point University located in High Point, North Carolina, to ultimately expand the program and approach to additional universities in the U.S. and internationally.

July 2021 - Sompo International Holdings Ltd announced that it's Commercial Property & Casualty (P&C) segment had expanded its global product capabilities with the formation of Sompo Global Risk Solutions (GRS) Asia-Pacific, a new team based in Singapore to serve select industries in the Asian markets through appointed brokers.

Japan Property & Casualty Insurance Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Deliverables and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS AND DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
  • 4.3 Market Restraints
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Threat of New Entrants
    • 4.4.2 Bargaining Power of Buyers/Consumers
    • 4.4.3 Bargaining Power of Suppliers
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry
  • 4.5 Impact of COVID-19 on Industry

5. MARKET SEGMENTATION

  • 5.1 Insurance Type
    • 5.1.1 Property
    • 5.1.2 Auto
    • 5.1.3 Other Insurance Types
  • 5.2 Distribution Channel
    • 5.2.1 Direct
    • 5.2.2 Agents
    • 5.2.3 Banks
    • 5.2.4 Other Distribution Channels

6. COMPETITIVE LANDSCAPE

  • 6.1 Market Concentration Overview
  • 6.2 Company Profiles
    • 6.2.1 Tokio Marine & Nichido Fire Insurance Co., Ltd.
    • 6.2.2 Sompo Holdings Inc.
    • 6.2.3 Rakuten General Insurance Co., Ltd
    • 6.2.4 MS&AD Insurance Group Holdings, Inc.
    • 6.2.5 SAISON Automobile & Fire Insurance Co., Ltd.
    • 6.2.6 SECOM General Insurance Co., Ltd.
    • 6.2.7 Hitachi Capital Insurance Corporation.
    • 6.2.8 Nisshin Fire & Marine Insurance Co., Ltd.
    • 6.2.9 Kyoei Fire & Marine Insurance Co.,Ltd
    • 6.2.10 Mitsui Direct General Insurance Co. Ltd.*
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

8. DISCLAIMER AND ABOUT US

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Japan Property & Casualty Insurance Industry Segmentation

Property and casualty insurance (also known as P&C insurance) are types of coverage that help protect you and your property. Casualty insurance means that the policy includes liability coverage to help protect you if you're found legally responsible for an accident that causes injuries to another person or damage to another person's belongings.

A complete background analysis of the Japanese property and casualty market includes an assessment of the parental market, emerging trends by segments, and regional markets. Significant changes in market dynamics and market overview are also covered in the report.

The Japanese Property and Casualty Insurance Market is segmented by Insurance Type (Property, Auto, and Other Insurance Types) and Distribution Channel (Direct, Agents, Banks, and Other Distribution Channels).

Insurance Type Property
Auto
Other Insurance Types
Distribution Channel Direct
Agents
Banks
Other Distribution Channels
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Japan Property & Casualty Insurance Market Research FAQs

What is the current Japan Property & Casualty Insurance Market size?

The Japan Property & Casualty Insurance Market is projected to register a CAGR of greater than 4% during the forecast period (2025-2030)

Who are the key players in Japan Property & Casualty Insurance Market?

MS&AD Insurance Group Holdings, Inc, Tokio Marine & Nichido Fire Insurance Co., Ltd., Sompo Holdings Inc., Rakuten General Insurance Co., Ltd. and Nisshin Fire & Marine Insurance Co., Ltd. are the major companies operating in the Japan Property & Casualty Insurance Market.

What years does this Japan Property & Casualty Insurance Market cover?

The report covers the Japan Property & Casualty Insurance Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Japan Property & Casualty Insurance Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Japan Property & Casualty Insurance Industry Report

Statistics for the 2025 Japan Property & Casualty Insurance market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Japan Property & Casualty Insurance analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.