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S&P: Japanese Life Insurance Industry Stagnant

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NU Online News Service, Nov. 8, 12:20 p.m. – Japanese life insurers are reporting stagnant earnings for the third quarter because of continuing declines in premiums and business volume from individual life products, according to Standard and Poor’s, Tokyo.

Total premium revenue for the third quarter was down 5% from the third quarter of 2000, and business volume fell by 2%, S&P says.

Most of the major domestic life insurers continue to suffer, due to low interest rates, a weak domeatic stock market, poor earnings, intensifying competition, and accelerating industry consolidation, S&P reports.