HONG KONG, Oct 17 (Bernama-BUSINESS WIRE) — AM Best has maintained its stable outlook on Japan’s life insurance market segment, citing in part the prospects for higher premium income based on rising interest rates, according to a new AM Best report.
In a new Best’s Market Segment Report, titled, “Market Segment Outlook: Japan Life Insurance,” AM Best notes an increase in sales for foreign currency-denominated savings products amid the rise in foreign interest rates, which should bolster premium income for Japan’s life insurers. Additional factors include potentially higher domestic interest rates and expected improvement in core profits due to the decline in COVID-related benefit payments.