Asahi Mutual Life Insurance Company, established in 1888, is one of the oldest and largest life insurance companies in Japan, and celebrates its 135th anniversary in 2022. With JPY 5,504 billion in assets and around 3 million policyholders, it has three distribution channels – a tied agency force, banc assurance, and independent agency firms. The company is also one of the core members in the Mizuho Bank Group, one of the largest corporation group in Japan.
Asahi Mutual has been aiming to expand our position in Medical insurance, Nursing care insurance, and Long Term Disability insurance. Asahi’s individual Nursing care insurance was awarded “Good Design Award” authorized by the Ministry of Economy, Trade and Industry. Asahi Mutual has been a significant member of Insurope in APAC area since 1981. It started to sell “Non-participating Group Life” mainly to multinational corporations in Japan. With Insurope Multinational Pooling, our “Non-participating Group Life” is the best-suited product for multinational corporations’ employee benefits.
The company is the leading provider of a full line of individual and group products distributed mainly through the company's 14,241 sales agents, which has direct access to their clients and are in a position to serve their clients with carefulness. Their main individual life product is a universal life type product, offering the low-cost protection of term life insurance as well as a savings element (like whole life insurance) which is invested in providing a cash value buildup. The death benefit, savings element, and premiums can be reviewed and altered as a policyholder’s circumstances change. In addition to this, they have a variety of medical, nursing care, and LTD insurances to match their clients’ needs. In Group Life insurance market, their main product is “Non-participating Group Life Insurance”, which provides low premium compared with their traditional “Participating Group Life Insurance.” For multinational corporation clients, they can provide Multinational Pooling, which provides cost savings to the clients. Strong sales channel: They also have around 270 independent agents. One of their independent agents is “Mizuho Bank”, one of the largest commercial banks in Japan, which sells its products as bancassurance.