Dai-ichi Life

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 by revenue, behind Japan Post Insurance and Nippon Life.

The Dai-ichi Life Insurance Company, Limited
Kabushiki gaisha
Subsidiary
Traded asTYO: 8750
TOPIX Large 70 Component
(Dai-ichi Life Holdings)
ISINJP3476480003 
IndustryInsurance
FoundedSeptember 15, 1902 (as mutual company); April 1, 2010 (as stock company)
FounderTsuneta Yano
Headquarters
DN Tower 21, 1-13-1, Yurakucho, Chiyoda. Tokyo
,
Japan
ProductsInsurance
Revenue5.28 trillion yen (FY 2013)
32.4 billion yen (FY 2013)
Total assets$346.9 billion (2015)[1]
Total equity1.64 trillion yen (March 2013)
Number of employees
61,335 (2013)
ParentDai-ichi Life Holdings, Inc.
Websitewww.dai-ichi-life.co.jp
DN Tower 21, headquarters of The Dai-ichi Life Insurance Company in Yurakucho, Chiyoda, Tokyo, Japan. The low-rise section (left front) was built in 1938 and served as the General Headquarters of the SCAP (1945-1952)

Founded on September 15, 1902, Dai-Ichi was one of the oldest mutual insurance 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.[2]

It was announced in October 2014 that Dai-ichi would raise US$1 billion by issuing US-dollar-denominated subordinated bonds in overseas markets.[3]

It is also the largest single shareholder of the Tokyu Corporation, 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 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.
  • 1982 - first European representative office is established in London.
  • 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 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[4]
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gollark: Quite a lot of the time if someone *tells* you "you are stupid, I am much better at this" they're just being a triskaidecagon.
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References
  1. "The World's Biggest Public Companies". forbes.com. Retrieved 10 April 2018.
  2. "総資産デイリーランキング-全市場：株式ランキング - Yahoo!ファイナンス". yahoo.co.jp. Retrieved 10 April 2018.
  3. Dai-ichi Life to raise $1 billion via subordinated bond issue. Reuters, 14 October 2014
  4. "Protective Announces Completion of Acquisition By Dai-ichi Life". Protective. Retrieved 10 November 2015.
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