A emblem of Sompo Japan Nipponkoa Insurance coverage Inc is seen on the firm’s headquarters in Tokyo, Japan
11:00 JST, November 19, 2023
TOKYO (Jiji Press) — All three main nonlife insurance coverage firms in Japan reported on Friday group internet income in April-September because of comparatively low insurance coverage payouts associated to pure disasters within the nation.
Of the three, Sompo Holdings Inc. was the one one which suffered an insurance coverage income drop, harm by the impression of car insurance coverage fraud at used automotive vendor Bigmotor Co.
Within the first six months of fiscal 2023, Tokio Marine Holdings Inc.’s internet revenue rose 2.1-fold from the identical interval a 12 months earlier than to ¥205 billion as a consequence of its robust abroad operations.
MS&AD Insurance coverage Group Holdings Inc. and Sompo Holdings Inc. each returned to the black, at ¥87.5 billion and ¥131.5 billion.
Internet insurance coverage premium income rose 7.5% to ¥2.45 trillion at Tokio Marine and eight.3% to ¥2.27 trillion at MS&AD.
