Japanese life insurers' premium income doubles to $128b in September

Assets of Japanese insurers also doubled to $2.8t.

The premium income of 41 Japanese life insurers more than doubled (106.6%) to $128.0b (¥19.1t) on a year-on-year (YoY) basis in the five months to September, data from the Life Insurance Association of Japan showed.

Claims paid also nearly doubled (96.7% YoY) to $30.2b (¥4.5t). Annuities paid also grew twofold to $15.4b (¥2.3t).

Assets of Japanese insurers also doubled to $2,821.8b (¥420.9t).

The period also saw all new business segments post double to triple-digit growth rates. Both volumes of individual insurance and annuity surged 105.7% YoY to 904.4k and 126.0% YoY to 73.4k, accordingly.

Similarly, group insurance and annuity both increased 56.6% YoY and 22.4% YoY.

($1.00 = ¥150)

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