JAPAN PROPERTY & CASUALTY INSURANCE MARKET - GROWTH, TRENDS, AND FORECAST (2019-2024)

The market is segmented by insurance type - growth, trends, and forecast (2019 - 2024)

Market Snapshot

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Study Period:

2015-2024

Base Year:

2018

CAGR:

5%

Key Players:

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Market Overview

The Japanese property and casualty insurance industry are one of the largest industries in the world. 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.

  • Above forty-five property and casualty insurance companies currently, operate in Japan. However, the market is actually an oligopoly of three large groups, known as the mega P&C insurance groups.
  • The largest private property and casualty insurers in the country are Tokio Marine, Sompo Holdings and MS & AD Insurance Group. Insurance agencies are the main sales channel and they account for 91.4% of net premiums written for the primary insurance business.

Scope of the Report

A complete background analysis of the Japanes property and casualty market, which 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

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Key Market Trends

Status of Automobile Insurance in Japan

Motor insurance demand is expected to decline in the long run due to the shrinking population and well developed public transportation system in Japan. The development of autonomous driving technologies will likely expand the demand for product liability insurance, telematics automobile products, as well as cyber protection.

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Status of Property Insurance in Japan

The types of property insurance in Japan are

  • Fire insurance
  • Earthquake insurance
  • Landlord insurance

In 2018, fire insurance generally accounted for 15% of the total premium income in the fiscal year ended 31 March 2017, making it the second biggest business line after auto insurance. However, the business is the least profitable among the major lines of business and has generated underwriting losses for many years.

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Competitive Landscape

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.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Market

    2. 1.2 Market Definition

    3. 1.3 Executive Summary

  2. 2. RESEARCH METHODOLOGY

    1. 2.1 Study Deliverables

    2. 2.2 Study Assumptions

    3. 2.3 Analysis Methodology

    4. 2.4 Research Phases

  3. 3. MARKET INSIGHTS

    1. 3.1 Market Overview

    2. 3.2 Government Regulations

    3. 3.3 Digital Trends Shaping the Insurance Industry

    4. 3.4 Insights on the Economic Performance of Japan

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

    2. 4.2 Restraints

    3. 4.3 Opportunities

    4. 4.4 High Insurance Fraud

    5. 4.5 Distribution Channels

  5. 5. MARKET SEGMENTATION AND ANALYSIS

    1. 5.1 Automobile Insurance

    2. 5.2 Freight Insurance

    3. 5.3 Fire Insurance

    4. 5.4 Personal Accident

    5. 5.5 Marine and Inland Transit

    6. 5.6 Miscellaneous Casualty

    7. 5.7 Other Non-life Insurance

    8. 5.8 General Liability Insurance

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Competition Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Tokio Marine & Nichido Fire Insurance Co., Ltd.

      2. 6.2.2 Sompo Holdings Inc.

      3. 6.2.3 Rakuten General Insurance Co., Ltd

      4. 6.2.4 MS&AD Insurance Group Holdings, Inc.

      5. 6.2.5 SAISON Automobile & Fire Insurance Co., Ltd.

      6. 6.2.6 SECOM General Insurance Co., Ltd.

      7. 6.2.7 Hitachi Capital Insurance Corporation.

      8. 6.2.8 Nisshin Fire & Marine Insurance Co., Ltd.

      9. 6.2.9 Kyoei Fire & Marine Insurance Co.,Ltd

      10. 6.2.10 Mitsui Direct General Insurance Co. Ltd.

      11. 6.2.11 Toa Reinsurance Company, Limited

      12. 6.2.12 Other Companies

    3. 6.3 Summary of Key and Active Local Players in the Market

  7. 7. INVESTMENT ANALYSIS

  8. 8. FUTURE OF THE MARKET

  9. 9. DISCLAIMER

*List Not Exhaustive

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