Following a series of failed bids, Zurich has now agreed terms to create a specialty insurance business with about US$15bn in annual gross written premiums.
Despite headwinds from interest rate normalisation and yen depreciation pressures, Japanese life insurers continue to demonstrate sound fundamentals and broadly stable premium levels.
The proposed fund, intended for building hard infrastructure against flooding in high-risk communities, would be co-invested by federal and state governments over 10 years.
