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

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

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 List of cities in Japan, largest city of Japan. Formerly known as Edo, its metropolitan area () is the most populous in the world, ...

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

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 subcontinent of Eurasia and it is located entirel ...

an representative office is established in

London London is the capital and List of urban areas in the United Kingdom, 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 dow ...

. * 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 ha ...

: 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 Grou ...

(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. Upo ...

.) * 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. * 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

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