Fire insurance led Japan's non-life market improvement in FY2025, as claims fell sharply despite continued premium growth across major commercial lines.
Insurers will need to adopt AI, geospatial tools and specialist partnerships as conventional underwriting models struggle to keep pace with fast-evolving risks, says Japan's NTT Data.
Standalone health premiums surged 31.7%, outpacing the broader market as rising medical costs and expanding healthcare coverage continued to drive demand
Industry underwriting profits jumped 34% year-on-year as property lines recovered from catastrophe losses, while cyber led premium growth and motor remained profitable.