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Insurers more than double their underwriting profits

Posted On: Oct. 6, 2022 9:42 AM CST

Japan

The aggregate underwriting profit of the 29 nonlife member insurers of the General Insurance Association of Japan more than doubled to 310 billion Japanese yen ($2.14 billion) in the financial year ended March 31, Asia Insurance Review reported. According to Japan-based reinsurer The Toa Reinsurance Co. Ltd., these insurers saw 1.3% year-on-year increase in net premium income to JPY8.8 trillion, driven by fire insurance and auto insurance businesses.