Japan Life Insurance and Pension Market Summary, Competitive Analysis and Forecast to 2028

Life Insurance & Pension in Japan industry profile provides top-line qualitative and quantitative summary information including: market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

– Life insurance & pension is the financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household.

– The Japanese life insurance & pension market recorded gross written premiums of $286.2 billion in 2023, representing a negative compound annual growth rate (CAGR) of 3.0% between 2018 and 2023.

– The life insurance segment accounted for the market's largest proportion in 2023, with total gross written premiums of $253.4 billion, equivalent to 88.5% of the market's overall value.

– The growth in the Japanese life insurance & pension market is being driven by the increasing population of individuals aged 25 and above. As this demographic reaches key milestones in their careers and personal lives, such as marriage and starting families, the demand for life insurance policies is on the rise. According to the United States Census Bureau, the population of individuals aged 25-29 years in Japan stood at 6.2 million in 2023, an increase of 0.3% from the previous year.

Scope

– Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance & pension market in Japan

– Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance & pension market in Japan

– Leading company profiles reveal details of key life insurance & pension market players’ global operations and financial performance

– Add weight to presentations and pitches by understanding the future growth prospects of the Japan life insurance & pension market with five year forecasts

Reasons to buy

- What was the size of the Japan life insurance & pension market by value in 2023?

- What will be the size of the Japan life insurance & pension market in 2028?

- What factors are affecting the strength of competition in the Japan life insurance & pension market?

- How has the market performed over the last five years?

- What are the main segments that make up Japan's life insurance & pension market?

Companies mentioned

Dai-ichi Life Holdings Inc

Nippon Life Insurance Co

MS&AD Insurance Group Holdings, Inc.

Tokio Marine Holdings Inc

Table of Contents

Table of Contents

1 Executive Summary

1.1. Market value

1.2. Market value forecast

1.3. Category segmentation

1.4. Geography segmentation

1.5. Market rivalry

1.6. Competitive landscape

2 Market Overview

2.1. Market definition

2.2. Market analysis

3 Market Data

3.1. Market value

4 Market Segmentation

4.1. Category segmentation

4.2. Geography segmentation

5 Market Outlook

5.1. Market value forecast

6 Five Forces Analysis

6.1. Summary

6.2. Buyer power

6.3. Supplier power

6.4. New entrants

6.5. Threat of substitutes

6.6. Degree of rivalry

7 Competitive Landscape

7.1. Who are the leading players?

7.2. What are the strengths and strategies of the leading players?

7.3. What are the recent developments in the market?

8 Company Profiles

8.1. Dai-ichi Life Holdings Inc

8.2. Nippon Life Insurance Co

8.3. MS&AD Insurance Group Holdings, Inc.

8.4. Tokio Marine Holdings Inc

9 Macroeconomic Indicators

9.1. Country data

10 Appendix

10.1. Methodology

10.2. Industry associations

10.3. Related MarketLine research

10.4. About MarketLine

List of Tables

List of Tables

Table 1: Japan life insurance & pension market value: $ billion, 2018–23

Table 2: Japan life insurance & pension market category segmentation: % share, by value, 2018–23

Table 3: Japan life insurance & pension market category segmentation: $ billion, 2018-23

Table 4: Japan life insurance & pension market geography segmentation: $ billion, 2023

Table 5: Japan life insurance & pension market value forecast: $ billion, 2023–28

Table 6: Dai-ichi Life Holdings Inc: Key Facts

Table 7: Dai-ichi Life Holdings Inc: Annual Financial Ratios

Table 8: Dai-ichi Life Holdings Inc: Key Employees

Table 9: Dai-ichi Life Holdings Inc: Key Employees Continued

Table 10: Nippon Life Insurance Co: Key Facts

Table 11: Nippon Life Insurance Co: Key Employees

Table 12: Nippon Life Insurance Co: Key Employees Continued

Table 13: MS&AD Insurance Group Holdings, Inc.: Key Facts

Table 14: MS&AD Insurance Group Holdings, Inc.: Annual Financial Ratios

Table 15: MS&AD Insurance Group Holdings, Inc.: Key Employees

Table 16: Tokio Marine Holdings Inc: Key Facts

Table 17: Tokio Marine Holdings Inc: Annual Financial Ratios

Table 18: Tokio Marine Holdings Inc: Key Employees

Table 19: Tokio Marine Holdings Inc: Key Employees Continued

Table 20: Japan Size of Population (million), 2019–23

Table 21: Japan Real GDP (Constant 2010 Prices, $ Billion), 2019–23

Table 22: Japan GDP (Current Prices, $ Billion), 2019–23

Table 23: Japan Inflation, 2019–23

Table 24: Japan Consumer Price Index (Absolute), 2019–23

Table 25: Japan Exchange Rate, 2018–23

List of Figures

List of Figures

Figure 1: Japan life insurance & pension market value: $ billion, 2018–23

Figure 2: Japan life insurance & pension market category segmentation: $ billion, 2018-23

Figure 3: Japan life insurance & pension market geography segmentation: % share, by value, 2023

Figure 4: Japan life insurance & pension market value forecast: $ billion, 2023–28

Figure 5: Forces driving competition in the life insurance & pension market in Japan, 2023

Figure 6: Drivers of buyer power in the life insurance & pension market in Japan, 2023

Figure 7: Drivers of supplier power in the life insurance & pension market in Japan, 2023

Figure 8: Factors influencing the likelihood of new entrants in the life insurance & pension market in Japan, 2023

Figure 9: Factors influencing the threat of substitutes in the life insurance & pension market in Japan, 2023

Figure 10: Drivers of degree of rivalry in the life insurance & pension market in Japan, 2023

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