Insurance in Japan
Japanese insurance market has started to form in the end of 19th century. Till 70-s’ years of this century activity of the insurance companies has been basically focused on internal economy, and on international scene it was focused on assistance to promotion of Japanese companies’ production on the world market.
Activity of Japanese insurance companies on international scene is consequence of the fact that Japan has managed to achieve sound successes in many economic parameters. For last 50 years the physical volume of Japanese export has increased for more, than 70 times, its rates have almost twice advanced a gain of world export. In 80th years reorientation has been changed from goods export to capital export. On a total volume of foreign direct investments the Japanese companies managed to get on the second place after the USA. In 70-80 years rough international expansion of the insurance Japanese companies has begun.
In 1996 financial year the sum of premiums on life insurance in Japan has reached 300 billion American dollars, and on “impracticable” insurance – 80 billion American dollars. These parameters have placed Japanese insurance market on the second place in the world.
Today almost 27 national and 3 foreign companies became the owners of life insurance licenses.
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