New individual annuity contracts reached 394,000 as their total value dropped 16.3%.
Japan’s life insurers from 1 April to the end of July show accumulated new business reaching 5,436,000 individual insurance policies valued at $114.9b (JPY18,161b).
The accumulated new business of 41 companies represented about 91.8% of the volume and 100.2% of the value recorded during the same period in the previous year.
For July 2026 alone, life insurers secured 1,342,000 new individual insurance policies valued at $30.3b (JPY4,792b), reflecting year-on-year levels of 92.8% by volume and 98.3% by value.
Accumulated new individual annuity business stood at 394,000 contracts worth $14.9b (JPY2,354b), down to 83.2% by volume and 83.7% by value year-on-year.
For July, individual annuities reached 93,000 contracts worth $3.6b (JPY563b).
Group insurance new business accumulated to 262,000 policies valued at $11.2b (JPY1,768b), representing a year-on-year increase of 119.5% by volume and 116.8% by value. Group annuity new business accumulated to $6.3m (JPY1b) across fewer than 500 contracts.
Total business in force as of July 2026 stood at 195.79 million individual insurance policies valued at $4.9t (JPY778,673b), up 0.2% year-on-year by value. Individual annuities in force totalled 20.18 million contracts worth $682.1b (JPY107,814b), up 2.3% by value.
Group insurance in force stood at 42.92 million policies worth $2.7t (JPY429,011b), up 1.4% by value, whilst group annuities in force reached 13.27 million policies worth $225.5b (JPY35,647b), up 0.6% by value.
Accumulated premium income across the four-month period totalled $81.2b (JPY12,827b), up 2.3% year-on-year, with July contributing $20.6b (JPY3,258b). Combined payments for claims, annuities and benefits totalled $39.7b (JPY6,279b) accumulated, down 1.2% year-on-year.
This included $17.9b (JPY2,828b) in claims paid, $10.3b (JPY1,634b) in annuities paid, and $11.5b (JPY1,816b) in benefits.
Surrender values totalled $30.6b (JPY4,839b), up 40.2% year-on-year, whilst operating expenses rose 5% to $11.2b (JPY1,765b).
Total assets across the 41 companies reached $2.55t (JPY403,052b) at the end of July 2026, a 0.5% increase year-on-year. Invested assets accounted for $2.45t (JPY386,491b), or 95.9% of total assets.
($1.00 = JPY158.05)