|[January 08, 2013]
BestWeek Asia-Pacific: Four Japanese Firms Rank in the Top 10 Largest World Insurers
OLDWICK, N.J. --(Business Wire)--
Four Japanese insurance companies are now in the top 10 largest world
insurers as measured by net premiums written, according to a new ranking
in BestWeek Asia-Pacific. Meanwhile, Japan Post Insurance Co.
Ltd. remained on top the list as measured by 2011 non-banking net
assets, according to A.M. Best data.
The presence of four Japanese companies in the top 10 by premiums
represents the greatest presence of any single country, and reflects the
impact of growth in Asia, the eurozone crisis and lackluster economies,
plus lingering fallout from American International Group's 2008
troubles. Japan Post moved up from fifth to third place; National Mutual
Insurance Federation held steady in sixth place; Nippon Life jumped from
12th-largest to seventh and Meiji Yasuda Life jumped from 20th to eighth.
Also featured in BestWeek Asia-Pacific, A.M. Best's 2012 global
reinsurance outlook finds that despite continuing challenges, the rating
outlook on the global reinsurance segment is being held at stable,
supported by continued strong risk-adjusted capitalization, judicious
enterprise risk management practices and a relatively stable pricing
environment across a broadening spectrum of business casses.
BestWeek Asia-Pacific also finds the opening of the mandatory
third-party motor liability insurance sector in China is expected to
enhance quality as foreign players believe market segmentation, rapid
sales network expansion and improved claims settlement processes are key
in cracking the newly deregulated market. The country's insurance
regulator is also looking to improve competition in the commercial motor
And learn how commercial insurers and industries are applying the
lingering lessons from the devastating floods in Thailand.
The Jan. 8 edition is available at www.bestweek.com/asia
BestWeek is published by A.M. Best Co. for insurance
professionals. To subscribe, visit www.ambest.com/sales/BestWeek.
BestWeek can be accessed on iPads and mobile devices at www.bestweek.com.
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Founded in 1899, A.M. Best Co. is the world's oldest and most
authoritative insurance rating and information source. For more
information, visit www.ambest.com.
Copyright © 2013 by A.M. Best Company, Inc. ALL RIGHTS
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