Search｜Photos & Images & Videos｜KYODO NEWS IMAGES INC

Chinese Regulators Require Insurers to Report Their Exposure to Vanke Debt

HANGZHOU, CHINA - DECEMBER 19, 2024 - A newly built Vanke commercial housing complex is seen in Hangzhou, Zhejiang province, China, December 19, 2024.

E

Chinese Regulators Require Insurers to Report Their Exposure to Vanke Debt

HANGZHOU, CHINA - DECEMBER 19, 2024 - A newly built Vanke commercial housing complex is seen in Hangzhou, Zhejiang province, China, December 19, 2024.

E

Chinese Regulators Require Insurers to Report Their Exposure to Vanke Debt

HANGZHOU, CHINA - DECEMBER 19, 2024 - A pedestrian passes a newly built commercial housing complex of China Vanke in Hangzhou, Zhejiang province, China, Dec 19, 2024.

E

Chinese Regulators Require Insurers to Report Their Exposure to Vanke Debt

HANGZHOU, CHINA - DECEMBER 19, 2024 - A newly built Vanke commercial housing complex is seen in Hangzhou, Zhejiang province, China, December 19, 2024.

E

Chinese Regulators Require Insurers to Report Their Exposure to Vanke Debt

HANGZHOU, CHINA - DECEMBER 19, 2024 - A pedestrian passes a newly built commercial housing complex of China Vanke in Hangzhou, Zhejiang province, China, Dec 19, 2024.

E

Wildfires - Canada

The McDougall Creek wildfire burns on the mountainside above houses in West Kelowna, B.C., on Friday, August 18, 2023. Canadian insurers are grappling with higher risk of wildfires amid a record-breaking season, and experts say rising premiums are just one part of how the industry is seeking to adapt to an ever-changing new normal. Photo by Darryl Dyck/Canadian Press/ABACAPRESS.COM

E

6 of Japan's top 9 life insurers report revenue increases

TOKYO, Japan - Yoshinobu Tsutsui, senior managing director of Nippon Life Insurance Co., briefs reporters on the company's financial results for the April-September period at a news conference in Tokyo on Nov. 25, 2009.

E

9 major life insurers' 1st-half core profit drops 19.4%

TOKYO, Japan - Yoshinobu Tsutsui (L), managing director of Nippon Life Insurance Co., speaks about the company's business results for the April-September period at a news conference in Tokyo on Nov. 26.

E

Life insurers fail to pay 86.2 bil. yen in insurance benefits

TOKYO, Japan - Nippon Life Insurance Co. President Kunie Okamoto (2nd R) and other senior executives of the life insurer bow in apology at a news conference in Tokyo on Oct. 5 after it was revealed that Nippon Life and other life insurance companies in Japan have failed to pay 86.2 billion yen in insurance benefits and other due payments to their customers in the five years from fiscal 2001.

E

6 of 9 major life insurers see core profits expand in FY 2006

TOKYO, Japan - Dai-ichi Mutual Life Insurance Co. Executive Director Koichiro Watanabe speaks on the company's business results for fiscal 2006 at a press conference in Tokyo on May 30. Six of Japan's nine major life insurers saw their core operating profits expand in the 2006 business year ended March 31 from a year earlier, supported by improved conditions for their fund management following interest rate hikes by the Bank of Japan.

E

6 of 9 major life insurers see core profits expand in FY 2006

TOKYO, Japan - Nippon Life Insurance Co. Executive Director Yoshinobu Tsutsui speaks on the company's financial results for fiscal 2006 at a press conference in Tokyo on May 30. Six of Japan's nine major life insurers saw their core operating profits expand in the business year ended March 31 from a year earlier, supported by improved conditions for their fund management following interest rate hikes by the Bank of Japan.

E

Resona considering alliance with life insurers

TOKYO, Japan - Resona Holdings Inc. Chairman Eiji Hosoya speaks during an interview with Kyodo News in Tokyo on May 25. He indicated the bank holding firm is considering a possible alliance with life insurance companies in a bid to expand over-the-counter insurance sales at banking units.

E

5 of 6 top nonlife insurers see drops in FY 2006 profits

TOKYO, Japan - Millea Holdings Inc. Executive Director Tomohiro Kotani (C) speaks at a press conference about the company's business results for fiscal 2006. Five of Japan's six major nonlife insurers saw their net profits decline in fiscal 2006 due to increased insurance payments following a powerful typhoon and risings costs to deal with their nonpayment of legitimate insurance claims.

E

Life insurers fail to pay 26.8 bil. yen insurance over 5 years

TOKYO, Japan - Sumitomo Life Insurance Co. President Shinichi Yokoyama (C) and other Nippon Life executives bow in apology over nonpayment of insurance money at a news conference in Tokyo on April 13. Sumitomo is among 12 leading life insurance companies in Japan that admitted they had skipped 26.8 billion yen in insurance money payment in 230,000 cases over the five years from fiscal 2001.

E

Life insurers fail to pay 26.8 bil. yen insurance over 5 years

TOKYO, Japan - Dai-ichi Mutual Life Insurance Co. President Katsutoshi Saito (C) and other Dai-ichi executives bow in apology over nonpayment of insurance money at a news conference in Tokyo on April 13. Dai-ichi is among 12 leading life insurance companies in Japan that admitted they had skipped 26.8 billion yen in insurance money payment in 230,000 cases over the five years from fiscal 2001.

E

Life insurers fail to pay 26.8 bil. yen insurance over 5 years

TOKYO, Japan - Nippon Life Insurance Co. President Kunie Okamoto (C) and other Nippon Life executives bow in apology over nonpayment of insurance money at a news conference in Tokyo on April 13. Nippon Life is among 12 leading life insurance companies in Japan that admitted they had skipped 26.8 billion yen in insurance money payment in 230,000 cases over the five years from fiscal 2001.

E

Nonlife insurers punish execs over failures to pay benefits

TOKYO, Japan - Nipponkoa Insurance Co. Chairman Ken Matsuzawa (C), President Makoto Hyodo (2nd R), and other Nipponkoa executives bow in apology at a news conference in Tokyo on April 13 where the insurer said it will punish senior executives over failure to pay due insurance benefits. Matsuzawa will take a 50 percent executive pay cut over six months and Hyodo 30 percent, starting in May.

E

Nonlife insurers punish execs over failures to pay benefits

TOKYO, Japan - President Kunio Ishihara (L) and Senior Managing Director Shuzo Sumi (R) of Tokio Marine & Nichido Fire Insurance Co. bow in apology at a news conference in Tokyo on April 13 where the insurer said it will punish senior executives over failure to pay due insurance benefits. Ishihara is stepping down and will be replaced by Sumi.

E

Core profit at Japan's 9 big life insurers hits record high

TOKYO, Japan - Dai-ichi Mutual Life Insurance Co. Executive Director Koichi Watanabe speaks at a press conference in Tokyo on Nov. 27 on the group's business results for the first half of fiscal 2006. The combined core operating profit at Japan's nine major life insurers hit a record high for the April-September period, supported by the solid stock market and rising returns from bond investment.

E

Core profit at Japan's 9 big life insurers hits record high

TOKYO, Japan - Nippon Life Insurance Co. Vice President Takeo Nii speaks at a press conference in Tokyo on Nov. 27 on the group's business results for the first half of fiscal 2006. The combined core operating profit at Japan's nine major life insurers hit a record high for the April-September period, supported by the solid stock market and rising returns from bond investment.

E

6 major nonlife insurers report 1.2 bil. yen in nonpayment cases

TOKYO, Japan - Japan's six major property and casualty insurance firms failed to pay a total of 1.22 billion yen in insurance claims in 4,365 cases involving medical and other ''third-sector'' insurance policies between July 2001 and June 2006, according to figures reported by them Oct. 31 to the Financial Services Agency. Kunio Ishihara (C), president of Tokio Marine & Nichido Fire Insurance Co., and executives of five other companies apologized during a news conference in Tokyo the same day.

E

Major insurers' nonpayment cases rise to over 200,000

TOKYO, Japan - Kunio Ishihara, president of Tokio Marine & Nichido Fire Insurance Co., apologizes at a news conference in Tokyo on Sept. 29 after Japan's top six nonlife insurers, including his company, have reported to financial authorities thousands of additional cases of failure to pay promised insurance benefits to policyholders.

E

Postal life insurance to sell other firms' products even before IPO

TOKYO, Japan - Josuke Shindo, chairman-designate of a postal life insurance firm that will emerge on the privatization of Japan's postal system in October 2007, speaks during an interview with Kyodo News in Tokyo. He said that the firm, tentatively called Kampo Life Insurance, will seek to sell other insurers' products even before its initial public offering.

E

Upper house panel passes yield-cut bill

TOKYO, Japan - Financial Services Minister Heizo Takenaka (R) bows in gratitude after the House of Councillors Financial Affairs Committee passed a bill July 17 allowing troubled life insurers to reduce guaranteed yields to policyholders.

E

No excessive FSA meddling in insurers deal: Takenaka

TOKYO, Japan - Financial Services Minister Heizo Takenaka submits a report to the Diet on July 8, saying there was no illegal or excessive intervention by a top Financial Services Agency (FSA) official in a failed merger involving Tokio Marine & Fire Insurance Co. in 2002.

E

Lower house passes bill to allow insurance yield cuts

TOKYO, Japan - The House of Representatives on June 12 approved a bill allowing life insurance companies to cut yields promised to policyholders, as a measure to prevent insurers going bankrupt. The bill is discussed by the House of Councillors before being enacted.

E

Lower house panel approves bill allowing yield cuts

TOKYO, Japan - Prime Minister Junichiro Koizumi responds to questions at the House of Representatives financial affairs committee on June 10. The committee approved a bill later allowing life insurers to lower yields guaranteed to their policyholders in order to avoid bankruptcies.

E

8 of 10 insurers' financial health down on weak stocks

TOKYO, Japan - Mitsuhiro Ishibashi (C), vice president of Nippon Life Insurance Co., briefs reporters on the insurer's earnings report for the fiscal year ended March 31, at the Bank of Japan's head office in Tokyo on May 30.

E

Prudential questions fairness of insurers safety-net system

TOKYO, Japan - Prudential Financial Inc. Chairman Arthur Ryan tells Kyodo News on Dec. 16 that he questioned the fairness of Japan's safety-net mechanism for life insurance policyholders, under which money is collected from all insurers to enable compliance with insurance contracts underwritten by failed insurers. ''Bailing out troubled companies does not solve the problem in the industry,'' he said.

E

Nonlife insurers eye sharing payments for terrorist incidents

TOKYO, Japan - Hiroyuki Uemura, chairman of the Marine and Fire Insurance Association of Japan, speaks with the media in Tokyo on march 20. He said the association plans to set up a fund designed to help its member nonlife insurers share payments over incidents linked to terrorism.

E

Meiji Life, Yasuda Mutual Life announce merger

TOKYO, Japan - Mikihiko Miyamoto (L), president of Yasuda Mutual Life Insurance Co., and Ryotaro Kaneko, president of Meiji Life Insurance Co. announce Jan. 24 in Tokyo that the two life insurers will merge around April 2004 to boost competitiveness. The merger will create a company with outstanding insurance contracts worth 196 trillion yen, nearly as much as the 203 trillion yen held by Sumitomo Life Insurance Co., Japan's third-largest life insurer.

E

4 Sumitomo Mitsui firms to enhance insurance alliance

TOKYO, Japan - Sumitomo Mitsui Banking Corp. and three insurers with ties to the Sumitomo Mitsui group said Nov. 22, 2001 they will bolster ties to enhance their ability to develop innovative insurance policies and boost marketing cooperation amid the harsh business environment. Seated at a Tokyo news conference are (From L to R) Mitsui Mutual Life Insurance Co. President Hiroshi Nishimura, Sumitomo Life Insurance Co. President Shinichi Yokoyama, Mitsui Sumitomo Insurance Co. Chairman Takeo Iguchi and Sumitomo Mitsui Banking Corp. President Yoshifumi Nishikawa.

E

Taisei Fire fails due to Sept. 11 attack claims

TOKYO, Japan - Taisei Fire & Marine Insurance Co. President Ichiro Ozawa leaves a press conference room Nov. 22, 2001 after announcing his firm has filed for bankruptcy under a special rehabilitation law for insurers, succumbing to the weight of massive claims stemming from the Sept. 11 attacks in the United States. ''An accident involving an airplane crashing in the middle of New York was not something we had included in our calculations,'' he said.

E

Life insurer body rules out simultaneous guaranteed yield cuts

TOKYO, Japan - Ikuo Uno, chairman of the Life Insurance Association of Japan, speaks at a press conference at the Bank of Japan's head office in Tokyo on June 15. He ruled out the possibility of all insurers conducting simultaneous cuts to guaranteed yields they promised to earn in soliciting policyholders.

E

(2)New banks, nonlife insurers kick off operations

TOKYO, Japan - Shigemitsu Miki (L), president of Mitsubishi Tokyo Financial Group Inc., and its chairman Akio Utsumi, cut a ribbon at a ceremony in Tokyo on April 2 to mark the launch of the company, a merged body of the Bank of Tokyo-Mitsubishi, Mitsubishi Trust & Banking Co. and Nippon Trust Bank. Mitsubishi-Tokyo is one of three megabank groups which began operations the same day.

E

(1)New banks, nonlife insurers kick off operations

TOKYO, Japan - Hideo Ogasawara, president of UFJ Holding Inc., a holding firm of Sanwa Bank, Tokai Bank and Toyo Trust & Banking Co., speaks at the company's opening ceremony in Tokyo on April 2. Three new megabank groups -- Sumitomo Mitsui Banking Corp., formed by the merger of Sumitomo Bank and Sakura Bank, Mitsubishi Tokyo Financial Group Inc., a merged body of the Bank of Tokyo-Mitsubishi, Mitsubishi Trust & Banking Co. and Nippon Trust Bank, as well as UFJ Holdings Inc. -- began operations the same day.

E

(3)New banks, nonlife insurers kick off operations

TOKYO, Japan - Akeshige Okada (L), chairman of Sumitomo Mitsui Banking Corp., and its chairman Yoshifumi Nishikawa shake hands at a ceremony to mark the launch of the company in Tokyo on April 2. The day's launches of three megabank groups, including Sumitomo Mitsui, usher in a new era of Japan's Big Four megabank groups.

E

Kyoei to join Millea insurers group

TOKYO, Japan - (From L to R) Asahi Mutual Life Insurance Co. President Yuzuru Fujita, Kyoei Mutual Fire & Marine Insurance Co. President Wataru Ozawa, Tokio Marine & Fire Insurance Co. President Kokei Higuchi and Nichido Fire & Marine Insurance Co. President Takashi Aihara join hands at a news conference in Tokyo on March 22. They announced Kyoei will join the Millea Insurance Group to be set up by the three other firms under a joint holding company by the end of 2004.

E

3 presidents of nonlife insurance firms announce merger plan

TOKYO, Japan - Ryutaro Sato (L), president of Nissan Fire & Marine Insurance Co., Hiroshi Hirano (C), president of Yasuda Fire & Marine Insurance Co., and Ichiro Ozawa, president of Taisei Fire & Marine Insurance Co., join hands at the Bank of Japan headquarters in Tokyo on Dec. 14 after announcing plans for the three nonlife insurers to merge in April 2002.

E

Three Japanese nonlife insurers to merge

TOKYO, Japan - (From L to R) Ryutaro Sato, president of Nissan Fire & Marine Insurance Co., Ichiro Ozawa, president of Taisei Fire & Marine Insurance Co., and Hiroshi Hirano, president of Yasuda Fire & Marine Insurance Co., shake hands at a news conference Nov. 2 after announcing an agreement to enter talks on their merger in April 2002.

E

3 Japanese nonlife insurers to form holding firm

TOKYO, Japan - Three Japanese property and casualty insurance companies announced Oct. 19 they will establish a holding company by April 2002, creating Japan's largest nonlife insurance group. Takeo Inokuchi (R), president of Mitsui Marine and Fire Insurance Co., Ken Matsuzawa (L), president of Nippon Fire and Marine Insurance Co., and Mutsuharu Okamoto (C), president of Koa Fire and Marine Insurance Co., shake hands at a press conference the same day in Otemachi, Tokyo.

E

Logo mark of SOMPO Holdings

Keywords: sompo holdings, sompo holdings, non-life insurance, non-life insurer, three mega insurers, insurance business, company, signboard, logo, logo mark = December 23, 2019, head office in Shinjuku-ku, Tokyo, Credit: Nikkan Kogyo Shimbun / Kyodo News Images

E

Logo mark of SOMPO Holdings

Keywords: sompo holdings, sompo holdings, non-life insurance, non-life insurer, three mega insurers, insurance business, company, signboard, logo, logo mark = December 23, 2019, head office in Shinjuku-ku, Tokyo, Credit: Nikkan Kogyo Shimbun / Kyodo News Images

E

Logo mark of SOMPO Holdings

Keywords: sompo holdings, sompo holdings, non-life insurance, non-life insurer, three mega insurers, insurance business, company, signboard, logo, logo mark = December 23, 2019, head office in Shinjuku-ku, Tokyo, Credit: Nikkan Kogyo Shimbun / Kyodo News Images

E

4 Sumitomo Mitsui firms to enhance insurance alliance

TOKYO, Japan - Sumitomo Mitsui Banking Corp. and three insurers with ties to the Sumitomo Mitsui group said Nov. 22, 2001 they will bolster ties to enhance their ability to develop innovative insurance policies and boost marketing cooperation amid the harsh business environment. Seated at a Tokyo news conference are (From L to R) Mitsui Mutual Life Insurance Co. President Hiroshi Nishimura, Sumitomo Life Insurance Co. President Shinichi Yokoyama, Mitsui Sumitomo Insurance Co. Chairman Takeo Iguchi and Sumitomo Mitsui Banking Corp. President Yoshifumi Nishikawa.

E

Taisei Fire fails due to Sept. 11 attack claims

TOKYO, Japan - Taisei Fire & Marine Insurance Co. President Ichiro Ozawa leaves a press conference room Nov. 22, 2001 after announcing his firm has filed for bankruptcy under a special rehabilitation law for insurers, succumbing to the weight of massive claims stemming from the Sept. 11 attacks in the United States. ''An accident involving an airplane crashing in the middle of New York was not something we had included in our calculations,'' he said.

E

Postal life insurance to sell other firms' products even before

TOKYO, Japan - Josuke Shindo, chairman-designate of a postal life insurance firm that will emerge on the privatization of Japan's postal system in October 2007, speaks during an interview with Kyodo News in Tokyo. He said that the firm, tentatively called Kampo Life Insurance, will seek to sell other insurers' products even before its initial public offering. (Kyodo)

E

Major insurers' nonpayment cases rise to over 200,000

TOKYO, Japan - Kunio Ishihara, president of Tokio Marine & Nichido Fire Insurance Co., apologizes at a news conference in Tokyo on Sept. 29 after Japan's top six nonlife insurers, including his company, have reported to financial authorities thousands of additional cases of failure to pay promised insurance benefits to policyholders. (Kyodo)

E

6 major nonlife insurers report 1.2 bil. yen in nonpayment cases

TOKYO, Japan - Japan's six major property and casualty insurance firms failed to pay a total of 1.22 billion yen in insurance claims in 4,365 cases involving medical and other ''third-sector'' insurance policies between July 2001 and June 2006, according to figures reported by them Oct. 31 to the Financial Services Agency. Kunio Ishihara (C), president of Tokio Marine & Nichido Fire Insurance Co., and executives of five other companies apologized during a news conference in Tokyo the same day. (Kyodo)

E

Core profit at Japan's 9 big life insurers hits record high

TOKYO, Japan - Nippon Life Insurance Co. Vice President Takeo Nii speaks at a press conference in Tokyo on Nov. 27 on the group's business results for the first half of fiscal 2006. The combined core operating profit at Japan's nine major life insurers hit a record high for the April-September period, supported by the solid stock market and rising returns from bond investment. (Kyodo)