The () was a life-insurance company in
Japan
Japan is an island country in East Asia. Located in the Pacific Ocean off the northeast coast of the Asia, Asian mainland, it is bordered on the west by the Sea of Japan and extends from the Sea of Okhotsk in the north to the East China Sea ...
. Yamato's headquarters were in
Uchisaiwaichō
is a district of Chiyoda, Tokyo, at the south-east corner of the ward bordering with Chūō and Minato.
Uchisaiwaichō Station on the Toei Mita Line is located in the area. Parts of the Hibiya Station and Shimbashi Station are also located ...
,
Chiyoda, Tokyo
, known as Chiyoda City in English,
." ''City of Chiyoda''. Retrieved on December 28, 2008.
.
History
The company was founded on September 20, 1889, and was capitalized at
¥12,086,963,000. In 1911, it entered the market for conscription insurance (under the name Nippon Chōhei Hoken), but after Japan's defeat in World War II and the elimination of military conscription, it changed its focus to life insurance and changed its name to Yamato Life in 1945. It has policies valued at ¥34,500,000,000.
Bankruptcy
The company filed for
bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the deb ...
on October 10, 2008 after the
2008 financial crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...
significantly devalued its assets
Yamato Life
(PDF) Retrieved October 10, 2008 particularly mortgages in Nevada
Nevada ( ; ) is a landlocked state in the Western United States. It borders Oregon to the northwest, Idaho to the northeast, California to the west, Arizona to the southeast, and Utah to the east. Nevada is the seventh-most extensive, th ...
. Its assets would later be acquired by the American-based insurance company Prudential Financial
Prudential Financial, Inc. is an American financial services company whose subsidiaries provide insurance, retirement planning, investment management, and other products and services to both Investor#Retail_investor, retail and institutional cus ...
.
References
External links
Yamato Life
site (Archived)
Financial services companies established in 1889
Insurance companies based in Tokyo
Companies that have filed for bankruptcy in Japan
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