Japan Insurance Market Largely Driven By Ageing Population: Ken Research

PITAMPURA, India - April 22, 2013 - PRLog -- New Delhi: 17/04/2013- Japan is particularly vulnerable to natural disasters because of its climate and topography and it has also witnessed several typhoons, earthquakes and other types of disasters in the past few years. On 11th March 2011, the country has experienced an earthquake which has killed approximately 19,000 people and around 383,246 buildings were partially or completely destroyed. As on 12th March 2012, about one year after the earthquake, injured victims of disaster have received payment of JPY 1,218.5 billion on 764,938 claims.

The insurance market in Japan can be classified on the basis of life and non-life insurance. The life insurance is a contract between life insurer and the policyholder in which an insurer is bound to pay a defined sum of money upon the death of the insured person within a certain specified time period or on the maturity of life insurance policy. The non life insurance is also known as general insurance is used to provide coverage for business and individual from the financial loss resulting from certain events such as natural disaster, accident, fire, burglary, diseases and others.

According to the research report “Japan Insurance Market Outlook to 2016 - Growing Importance of Annuity Insurance with Ageing Population” by Ken Research, the direct written premium of insurance in Japan is projected to rise at a CAGR of 9.6% in the next four years with the entrance of more foreign players in the country.

“Rising demand of annuity insurance in Japan with the ageing population, increasing competition with the entrance of foreign players and the occurrence of a natural disaster at a frequent interval are expected to drive Japan insurance market positively in next four years.” According to the Research Analyst, Ken Research

The report “Japan Insurance Market Outlook to 2016 - Growing Importance of Annuity Insurance with Ageing Population” provides a comprehensive analysis of market size of the Asia-Pacific insurance industry, market segmentation of Asia-Pacific insurance industry by geography. The report includes market size of Japan insurance industry, market segmentation of life and non-life Japan insurance market and market size and segmentation of various non life segments. The report also provides value chain of Japan insurance market, competitive landscape and profile of major players operating in Japan insurance industry.

For more information on the industry research report please refer to the below mentioned link:

http://www.kenresearch.com/banking-financial-services--in...