Consolidation To Continue For Japan's Non-Life Insurers

As CFW predicted the planned merger between Japan's non-life insurers Mitsui Sumitomo Insurance, Aioi and Nissay Dowa, which would create the largest company in the sector, has spurred further consolidation. Sompo Japan and Nipponkoa, the country's third- and fifth-largest non-life insurers announced on March 13 that they plan to merge. The merger would create the third-largest company with more than JPY2trn in premium income and a market value of US$10bn. If both mergers are completed, the non-life insurance industry in Japan would be controlled by three large companies, with Tokio Marine holding second place.

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