Japan Insurance – (Re)in Asia

Features and key stories

Cyclist wearing a hat rides along a sunny street past a collapsed wooden building with rubble on the right .

Panoramic city skyline with tall glass skyscraper and apartment blocks, a rooftop pool in the foreground, and an overcast sky.

Traditional Japanese street lined with dark wooden shops, hanging signboards, and warm lanterns, with mountains in the background

Nighttime city skyline with densely packed buildings and bright neon lights, a tall blue-lit tower visible in the distance.

City street at dusk with light trails from moving cars and a lit Tokyo Tower in the distance.

Wide city skyline with tall glass skyscrapers, blue sky, and a tree-lined plaza in the foreground. Central modern buildings flank a historic red-roofed structure to the right.

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Early estimate puts Kumamoto quake insured losses at US$3bn-4.5bn, ILS impact likely limited

Fund managers, brokers expect the loss to land below the 2016 Kumamoto earthquake, though aftershocks could still shift the picture.

India, Malaysia drive biggest insurance deals as APAC activity cools in Q2

Against a broader regional slowdown, Southeast Asia stood out as the most active deal market.

Japan general insurers' underwriting performance improves as fire claims fall in FY2025

Fire insurance led Japan's non-life market improvement in FY2025, as claims fell sharply despite continued premium growth across major commercial lines.

RGA signs block coinsurance deals with Sumitomo Life and Anshin Life in Japan

Sumitomo Life turns to reinsurance for the first time as insurers across Asia move in-force blocks off their books.

Japan's FSA finalises tighter rules on asset-intensive reinsurance

Insurers face broader expectations on stress testing, collateral quality, recapture planning and reinsurer due diligence under the revised guidelines, which apply from July 1.

Pacific Life Re inks third asset-intensive reinsurance deal with Tokio Marine & Nichido Life

Third transaction with Japanese life insurer underscores Pacific Life Re’s growing role in the country’s AIR market.

Resolution Life signs three new asset-intensive reinsurance deals across Hong Kong, Japan

Reinsurer has completed two in-force reinsurance deals covering participating whole-of-life portfolios in Hong Kong and one reinsurance agreement in Japan.

Softbank's PayPay to acquire 70% stake in T&D Financial Life for US$840m

The transaction would give PayPay a direct foothold in Japan’s life sector and create new cross-selling options with its existing customer base.

Japan’s reinsurance market enters a spikier, more volatile phase

Deepening competition has brought faster, more pronounced underwriting cycles.

Marsh to acquire ENEOS insurance units in Japan

The broker will acquire ENEOS Insurance Service and ENEOS Material Trading from the Japanese energy group, with closing expected in Q3 2026.

Japan FSA proposes tighter checks on life reinsurance deals

The draft guidance proposes stress tests for asset-intensive reinsurance deals, including recapture events and multiple reinsurer failures, to assess impacts on solvency and reserves.

Asia insurance rates decline continues across major commercial lines in Q1 2026

Increased insurer capacity and competitive pressures pushed Asia’s commercial insurance rates down another 5% last quarter, says Marsh.

Autonomous vehicles drive APAC insurers toward new liability era as robotaxis ramp up

Robotaxis are giving commercial shape to APAC’s broader AV market, but insurers remain constrained by limited data, fragmented regulation, and unresolved liability questions.

Japan FSA plans tighter oversight on insurance sales conduct

The proposals would require agencies to set clearer standards for recommendations, give customers fuller explanations and strengthen internal oversight.

Japan life insurers post 10% premium growth in December amid bond pressures, rising surrenders

Premium income and new annuity sales strengthen even as rising policy surrenders, bond yield pressures, and higher operating expenses weigh on the sector.

Japan GI premiums grow 5.6% in Q4 on fire, motor strength

A 13% increase in fire premiums, alongside contained motor claims, helped balance weaker marine and transit trends.

Japan’s economic solvency shift exposes gaps among smaller players

Japan’s move to market-consistent solvency reporting will bring new pressures on capital adequacy and risk management.

Sompo receives regulatory green light for US$3.5bn Aspen acquisition

The deal, expected to close in the coming days, will see Japanese insurer leverage Aspen’s Lloyd’s syndicate and capital markets platform to boost its international growth strategy.

Vietnam breaks from Asia’s soft market trend as commercial rates rebound to 15% in Q4

Korea led the region’s softening with a 17% composite rate drop, while Taiwan and Hong Kong SAR also posted double-digit declines, according to Marsh data.

Japan and India buck regional slide as Asia-Pacific insurance dealmaking declines further in 2025

With only two $1bn-plus transactions all year, buyers shifted toward smaller, distribution-led plays and selective cross-border bets.