, 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 ...

Japan Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the north ...

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 Tokyo (; ja, 東京, , ), officially the Tokyo Metropolis ( ja, 東京都, label=none, ), is the capital and largest city of Japan. Formerly known as Edo, its metropolitan area () is the most populous in the world, with an estimated 37.468 ...

location. * 1975 - first overseas representative office is established in

New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...

. * 1982 - first

Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...

an 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 majo ...

. * 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 DN Tower 21"D" stands for Dai-ichi Life and "N" stands for the Norinchukin Bank is an office building in Tokyo, Japan. It includes the former Dai-Ichi Seimei Building, in which Douglas MacArthur had his headquarters during the occupation of J ...

, a new head office building. * 1995 -

Great Hanshin earthquake The , or Kobe earthquake, occurred on January 17, 1995, at 05:46:53 JST (January 16 at 20:46:53 UTC) in the southern part of Hyōgo Prefecture, Japan, including the region known as Hanshin. It measured 6.9 on the moment magnitude scale and had ...

: 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 The Industrial Bank of Japan, Limited (IBJ), based in Tokyo, Japan, was one of the largest banks in the world during the latter half of the 20th century. It combined with Dai-Ichi Kangyo Bank and Fuji Bank in 2002 to form Mizuho Financial Group ...

(now

Mizuho Financial Group , abbreviated as MHFG, or simply called Mizuho, is a banking holding company headquartered in the Ōtemachi district of Chiyoda, Tokyo, Japan. The name "" literally means "abundant rice" in Japanese and "harvest" in the figurative sense. Upon ...

.) * 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, t ...

and

Aflac Aflac Inc. (American Family Life Assurance Company) is an American insurance company and is the largest provider of supplemental insurance in the United States. The company was founded in 1955 and is based in Columbus, Georgia. In the U.S., A ...

. * 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