Dai-ichi Life Holdings’ balance sheet “very strong”: AM Best

It is said to have a strong operating performance and appropriate risk management.

Dai-ich Life Holdings Inc., (DLH) is assessed to have a “very strong” balance sheet strength by AM Best.

The group— which is the parent of the entire Dai-ichi organisation, including the Dai-ichi Life Insurance Company, Limited (Japan)— is said to have strong operating performance, favorable business profile, and appropriate risk management.

DLH’s balance sheet strength is underpinned by its risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), which was assessed at the very strong level by AM Best.

The group’s total reported capital declined by 10% to JPY3.5t as of 31 March 2025, primarily driven by lower net unrealised gains on securities.

“The group’s financial flexibility remains strong, supported by its access to equity and debt markets as a listed insurance group in Japan, while its financial leverage remains well managed under the group’s internal policy,” AM Best stated in a report on 2 October 2025.

“In addition, the group has prudent asset-liability management practices in place to mitigate potential asset-liability mismatch risk, supported by effective asset allocation and reinsurance strategies,” it added.

DLH is one of the largest private life insurance groups in Japan. To diversify its business further and enhance capital efficiency, DLH has continued to expand its business footprint in non-insurance business and overseas insurance business in recent years through strategic acquisitions, AM Best noted.