.A logo design of Sompo Japan Nipponkoa Insurance coverage Inc is seen at the business’s head office in Tokyo, Japan
11:00 JST, November 19, 2023
TOKYO (Jiji Press)– All 3 significant nonlife insurer in Japan reported on Friday group net revenues in April-September thanks to fairly low insurance coverage payments connected to natural catastrophes in the nation.
Of the 3, Sompo Holdings Inc. was the only one that suffered an insurance coverage earnings drop, injured by the effect of car insurance coverage scams at secondhand cars and truck dealership Bigmotor Co.
In the very first 6 months of financial 2023, Tokio Marine Holdings Inc.’s net revenue increased 2.1-fold from the very same duration a year before to Â¥ 205 billion due to its strong abroad operations.
MS&AD Insurance Coverage Group Holdings Inc. and Sompo Holdings Inc. both went back to the black, at ¥ 87.5 billion and ¥ 131.5 billion.
Net insurance coverage premium earnings increased 7.5% to ¥ 2.45 trillion at Tokio Marine and 8.3% to ¥ 2.27 trillion at MS&AD.