[Company analysis] Dai-ichi Life Insurance Company, Limited (第一生命ホールディングス)

「Dai-ichi Life Insurance Company, Limited (第一生命ホールディングス)」is a life insurance holding company which owns「The Dai-ichi Life Insurance Company, Limited」. This company has 3rd largest asset volume after「Japan Post Insurance Co., Ltd.,(かんぽ生命保険)」which is a subsidiary of「Japan Post Holdings Co., Ltd.,(日本郵政)」and「Nippon Life Insurance Company(日本生命保険相互会社)」in Japanese life insurance industry.  The number of consolidated employees is approximately 61,446.

 

1. Company Profile

2. Summary and Features

3. Major Business

4. Financial Information

 

 

 

1. Company Profile

 

※Unit is JPY million, as of 2019

Company name	Dai-ichi Life Insurance Company, Limited
Company name (Japanese)	第一生命ホールディングス
Date of establishment	Monday, September 15, 1902
Headquarters location	〒100-8411 東京都千代田区有楽町1-13-1
Capital	343,500
Consolidated sales	7,184,093
Consolidated operating profit	432,945
Consolidated total assets	55,941,261
Consolidated capital	3,713,592
Capital adequacy ratio	6.6%
Consolidated number of employees	61,446

 

 

 

2. Summary and Features

 
In 1902,「Dai-ichi Life Insurance Co., Ltd.(第一生命保険株式会社)」was the first Japanese life insurance company to be established as a mutual company. At the time of its establishment, it was given the name "Daiichi" which means first time in Japan. It was converted to a stock company in 2007 and became listed on the first section of the Tokyo Stock Exchange in 2010. Then they took up expanding overseas business actively and bought life insurance companies in Australia and Indonesia. In addition, they purchase an American mid-life insurance company for 582.2 billion yen, which is the largest amount in history of Japanese insurance company.

 

「Dai-ichi Life Holdings」has a complete business tie-up with「Mizuho Financial Group, Inc.」. Besides, they made partnership with various companies such as「Sompo Japan Insurance Inc.(損害保険ジャパン日本興亜)」in August 2000,「Aflac Life Insurance Japan Ltd.(アフラック生命保険株式会社)」 in September 2000,「Resona Holdings(りそなホールディングス)」 in July 2007. In addition, in order to handle specialized insurance product tofor sales to agencies of financial institution, they established related life insurance subsidiary,「The Dai-ichi Frontier Life Insurance Co., Ltd.,」. 

 

The basic business of「Dai-ichi Life Insurance Company」is, handling Personal medical / nursing insurance / cancer insurance / corporate or individual annuity products. They also provide business guarantee funds and consulting services related to business succession. The amount of private insurance held exceeds 95 trillion yen and group insurance exceeds 48 trillion yen. It ranks third in the industry in terms of total assets.

In March 2016, they recently entered into a business alliance with「Japan Post Insurance Co., Ltd.,」 a subsidiary of「Japan Post Holdings Co., Ltd.」, in order to complement each other's weaknesses and strengthen the base for capturing overseas markets. The Japanese domestic market is expected to shrink due to the declining birthrate and aging population, so overseas expansion is essential for the growth of the company.「Dai-ichi Life」is targetting not only at the world's largest insurance market, the American market, but also at the Australian market. At present, Australia's life insurance market is about one-sixth of Japan, but it is growing steadily due to economic growth and population growth.

 

 

3. Major Business

 

■ Life insurance business

 

 

 

4. Financial information

 

※Unit is JPY million

		2016	2017	2018
Consolidated sales		6,456,796	7,037,827	7,184,093
Consolidated operating profit		425,320	471,994	432,945
Consolidated total assets		51,985,850	53,603,028	55,941,261
Consolidated net assets		3,137,266	3,749,271	3,713,592
Breakdown of sales	Japan domestic Life insurance	5,133,694	5,616,282	5,933,276
	Oversea Life insurance	1,373,792	1,461,512	1,341,864
	Others	41,780	64,591	160,085
	Adjustments	-92,471	-104,559	-251,132