Published:
Japanese life insurers' premiums income more than doubles November-end
Operating expenses, however, also rose to $22b.
The premium income of 42 Japanese insurers jumped 109.1% to $160m (Y24.035t) in the seven months to November 2023, data from the Life Insurance Association of Japan showed.
Claims paid, likewise, leapt 97.6% to $42b (Y6.21t). This growth trend continued with annuities paid which saw a 106.2% growth to (Y3.04t).
ALSO READ: Japan bucks trend, positive asset returns boost pension index in Q4’23
However, operating expenses also jumped double the size from the same period the previous year to $22b (Y3.20t).
Total assets for the month-end stood at $2.73 (Y400t), growing double in size year-on-year.
(Y1.00 = $0.0068)
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