, or Dai-ichi Life for short, is the third-largest

life insurer Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...

in Japan by revenue, behind

Japan Post Insurance , is a Japanese life insurer that was established on October 1, 2007, with the privatization of . It is part of the Japan Post Holdings group. As of 2011, it was the world's fourth largest insurance company as regards net premiums written behind ...

and

Nippon Life , also known as or is the largest Japanese life insurance company by revenue. The company was founded in 1889 as the ''Nippon Life Assurance Co., Inc.'' In structure it is a mutual company. It first paid policyholder dividends in 1898. Over ...

. Founded on September 15, 1902, Dai-Ichi was one of the oldest

mutual insurance A mutual insurance company is an insurance company owned entirely by its policyholders. Any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders in the form of dividend distributions or re ...

companies 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 , also known as or TEPCO, is a Japanese electric utility holding company servicing Japan's Kantō region, Yamanashi Prefecture, and the eastern portion of Shizuoka Prefecture. This area includes Tokyo. Its headquarters are located in Uchisaiw ...

. It was announced in October 2014 that Dai-ichi would raise

US$ The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...

1 billion by issuing US-dollar-denominated subordinated bonds in overseas markets. It is also the largest single shareholder of the

Tokyu Corporation The is a Japanese multinational ''keiretsu'' ( conglomerate) holding company headquartered in Shibuya, Tokyo. Its main operation is , a wholly owned subsidiary operating railways in the Greater Tokyo Area. History The oldest predecessor ...

, holding 6.35% of all issued stock.

Key facts

As of March 30, 2006 * Total assets - US$276,552 million * Policy reserves - US$227,524 million * Total capital - US$21,425 million *

Solvency Solvency, in finance or business, is the degree to which the current assets of an individual or entity exceed the current liabilities of that individual or entity. Solvency can also be described as the ability of a corporation to meet its long-ter ...

margin ratio - 1,095.5% * Policies in force - US$2,085 billion * Policyholders - 8,646,469

History

* 1902 - Founded * 1938 - head office is moved to its current Yurakucho, Tokyo location. * 1975 - first overseas representative office is established in

New York City New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...

. * 1982 - first European representative office is established in

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a major s ...

. * 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 , formerly NKSJ Holdings and , is a Japanese insurance company. It is the second-largest property insurance company in Japan only behind Tokio Marine, with market share of 19.3% in 2007. The “Sompo” in the company's name means in Japanese, ...

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 Protective Life Corporation is a financial service holding company in Birmingham, Alabama.https://protective.newshq.businesswire.com/sites/protective.newshq.businesswire.com/files/press_kit/file/We_Are_Protective_Life_-_Company_Overview_and_Financ ...

References

External links

The Dai-ichi Mutual Life Insurance Company
(in Japanese)
The Dai-ichi Mutual Life Insurance Company Annual Report
(in English) {{DEFAULTSORT:Dai-ichi Mutual Life Insurance Company Insurance companies based in Tokyo Companies listed on the Tokyo Stock Exchange Financial services companies established in 1902 Japanese brands