Harman Patil (Editor)

Dai ichi Life

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Traded as
  
TYO: 8750

Products
  
Insurance

Founded
  
15 September 1902

Revenue
  
5.28 trillion JPY (2013)

Industry
  
Insurance

Founder
  
Tsuneta Yano

Total assets
  
346.9 billion USD (2015)

Subsidiaries
  
Protective Life

Dai-ichi Life wwwlogoepsnetwpcontentuploads201205daiich

Type
  
Public kabushiki kaisha

Net income
  
32.4 billion yen (FY 2013)

Total equity
  
1.64 trillion yen (March 2013)

CEO
  
Koichiro Watanabe (1 Apr 2010–)

Headquarters
  
Chiyoda, Tokyo, Tokyo, Japan

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The Dai-ichi Life Insurance Company, Limited (第一生命保険株式会社, Dai-ichi Seimei Hoken Kabushiki-kaisha), or Dai-ichi Life for short, is the third-largest life insurer in Japan by revenue, behind Japan Post Insurance and Nippon Life.

Contents

Founded on September 15, 1902, Dai-Ichi was the oldest mutual insurance company in Japan until a motion to demutualise was passed in 2009 and, on April 1, 2010, it listed on the Tokyo Stock Exchange, raising 1.01 trillion yen. As of March 2013, it had the most assets of any listed company in Japan with a total of 33 trillion yen on its stand-alone balance sheet, more than twice the total assets of #2-ranked Tokyo Electric Power Company.

It was announced in October 2014 that Dai-ichi would raise US$1 billion by issuing US-dollar-denominated subordinated bonds in overseas markets.

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Key facts

As of March 30, 2006

  • Total assets - $276,552 million USD
  • Policy reserves - $227,524 million USD
  • Total capital - $21,425 million USD
  • Solvency margin ratio - 1,095.5%
  • Policies in force - $2,085 billion USD
  • Policyholders - 8,646,469

    • History

  • 1938 - head office is moved to its current Tokyo location.
  • 1975 - first overseas representative office is established in New York City.
  • 1982 - first European representative office is established in London.
  • 1990 - investment in Lincoln National Life Insurance Company marked the first time a Japanese company participated in capitalizing a leading U.S. insurer.
  • 1993 - completion of the DN Tower 21, a new head office building.
  • 1995 - Great Hanshin earthquake: simplification of claims settlement procedures.
  • 1996 - establishment of the Dai-ichi Property and Casualty Insurance Co., Ltd.
  • 1997 - establishment of Dai-ichi Life Research Institute Inc.
  • 1999 - agreement on total business cooperation with the Industrial Bank of Japan (now Mizuho Financial Group.)
  • 2000 - agreement to form a comprehensive business alliance with Sompo Japan Insurance and Aflac.
  • 2002 - celebration of its 100th Anniversary.
  • 2010 - Demutualization and stock listing on the Tokyo Stock Exchange
  • 2011 - completes take over of ASX listed Tower Australia life insurance company, the wholly owned subsidiary is then renamed TAL
  • 2015 - purchased Protective Life Corporation

    • References

    Dai-ichi Life Wikipedia
    (Text) CC BY-SA