Current Situation of Insurance Medicine in Japan

The Japanese life insurance industry developed through the 1980s in a stable manner, supported by the high growth of domestic economy. The business in force including individual annuity and group insurance exceeded 1,300 trillion yen. In 1987, the United States was already replaced by Japan as the No. 1 nation by the insurance in force. Subsequently, the in-force insurance ratio of the national income and the face amount per person in Japan surpassed those of the so-called insurance advanced countries such as the United States and European countries. Accordingly, Japan emerged as the most insured nation of the world.