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 measured by revenue, only behind Japan Post Insurance and Nippon Life Insurance.
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 Nikkei, raising 1.01 trillion yen. As a result of its listing, Dai-Ichi replaced Nippon Telegraph and Telephone Corporation (NTT) as Japan’s most widely held stock.
Key facts
- 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 marks the first time a Japanese company has 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
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