Abstract
Although the Japanese insurance market in the 1990s was sluggish, it is still the second largest, only behind the U.S. market. According to Swiss Re (2004), U.S. total premium volume (including life and non-life insurance) in 2003 was 1,055 billion U.S. dollars, followed by Japan with $478 billion, the United Kingdom with $247 billion, and Germany with $171 billion.106
The premium volume for the European Union (EU), consisting of 25 countries, was $947 billion. Therefore, if we regard the EU as one market, Japan is the third largest insurance market.
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Yamori, N., Okada, T. (2007). The Japanese Insurance Market and Companies: Recent Trends. In: Cummins, J.D., Venard, B. (eds) Handbook of International Insurance. Huebner International Series on Risk, Insurance and Economic Security, vol 26. Springer, Boston, MA. https://doi.org/10.1007/978-0-387-34163-7_3
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