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Insurance in Japan

The insurance market of Japan is very capacious, after the USA, Great Britain and Germany takes the fourth place in a pattern.

Many vendors of Japanese cars use services of insurance companies, for example Mazda, Toyota, Nissan. Also other markets also need services of insurers (real estate, tourism), exchange structures which make transactions of securities (to an action, bonds, options, futures), and also to different goods (wheat, coffee, oil, gas, gold, silver, gasoline, cotton, sugar and other goods), the banking organizations (banks of Europe, Banks of Switzerland, Banks of Ukraine, Banks of Russia, banks of the USA), brokers, investment companies, managing directors of Mutual funds and others.

Activities of Japanese insurance companies are oriented generally on domestic market. It is rather well technological, structured, offers very wide choice of insurance products, from which most important this medical insurance, life insurance, property insurance and automobile. All Japanese companies are very large, thus they are closed for businessmen from other countries. Only about fifteen years ago in Japan insurance companies from European the countries and the USA began to open, however they occupy a small segment of the market. Approach in activities of the Japanese companies is strictly conservative. Development of Japanese economy pushed to an output on other markets of Japanese insurance groups. In Japan also plays very the significant role the reinsurance market since there the risk of approach of insured events is very great (for example, disastrous actions, typhoons, etc.) . And simply when traveling to Japan it is necessary to buy the insurance policy. Popular it is considered life insurance, and also medical insurance enjoys popularity as among ordinary citizens, and businessmen, and show business stars.

The largest insurance companies of Japan:

- «Nippon Life Insurance Company»;
- «Dai-Ichi Mutual Life Insurance»;
- «Sumitomo Life Insurance Company»;
- «Meiji Life Insurance Company»;
- «Yasuda Mutual Life Insurance Company».

leading insurance companies of Japan generally specialize on life insurance in spite of the fact that such companies as a whole are about the country twice less on comparing with the insurance companies which are specializing on other types of insurance. Therefore, it is possible to draw an output that the life insurance market in Japan is partially monopolized. The state rigidly regulates activities of insurance companies.

Great value attach to the reinsurance market, because in Japan very high probability of a loss occurrence because of frequent natural disasters.

As a rule, insurance companies of Japan invest the money in syndicates on provision of the credits and placement of bonded loans by foreign quotients and the state borrowers and as support close connections with industrial and trade, finance companies which are shown in possession of actions, in group insurance of workers and employees, control of pension funds, crediting and possession of bonds.

Category: Insurance history in the different countries of the world | Added by: Chance23 (21.04.2014)
Views: 150 | Rating: 5.0/1
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