Japanese market News

Guy Carpenter Appoints Former Gen Re Exec Toffanello as Head of Japan

Guy Carpenter & Co., the reinsurance specialist and a business of Marsh & McLennan Cos., announced the appointment of Pietro Toffanello as head of Japan in Q1 2021. In this role, Toffanello will be responsible for managing Guy Carpenter’s business …

Japan Government Urges Firms to Aim for 70% Telecommuting as COVID Cases Surge

Japan’s economy minister said on Monday [July 27] the government would urge businesses to aim for 70% telecommuting and enhance other social distancing measures amid a rise in coronavirus cases among workers, some infected during after-work socializing. Though Japan has …

Coronvirus Discrimination and Bullying Hinders Battle Against Pandemic in Japan

The coronavirus in Japan has brought not just an epidemic of infections, but also an onslaught of bullying and discrimination against the sick, their families and health workers. A government campaign to raise awareness seems to be helping, at least …

Many Japan Firms Resist Telecommuting, Raising COVID-19 Risk for Call Center Staff

Almost a month after Tokyo declared a state of emergency, dozens of call center employees for telecom KDDI Corp still commute into their crowded office, where the fear of coronavirus infection has taken a back seat to data security. Call …

Typhoon Hagibis Likely to Cause Earnings Event for Japan’s Insurers: Fitch

Typhoon Hagibis is likely to be an earnings event for Japan’s three main non-life insurance groups, MS&AD Insurance Groups Holdings, Sompo Japan Nipponkoa Insurance and Tokio Marine & Nichido Fire Insurance Co. (TMNF), with no material effects on capital and …

Private Equity Firm JC Flowers Kept Stake in Japan’s Shinsei Bank Too Long: Opinion

Japan’s banking sector has become a dead zone for private equity. Yet even then, the latest attempt by J. Christopher Flowers to sell Shinsei Bank Ltd. seems like a zombie franchise that has run a few episodes too long. Flowers …

Japan Post’s Share Sale Could Be Delayed by Scandal at Insurance Unit

The government’s plan to sell over $10 billion worth of shares in Japan Post Holdings Co. has been clouded by a scandal at its insurance unit. The subsidiary, Japan Post Insurance Co., is voluntarily refraining from active product sales amid …

Japan Insurers to Invest in Riskier Non-Government Bonds, Seeking Higher Returns

As bond yields evaporate globally, many Japanese insurers are looking to secure higher returns at home and abroad by diversifying into riskier corporate and other non-government bonds in the financial year that began this month. Officials at Japan’s top 10 …

Nippon Life Agrees to Buy 85% Stake in MassMutual’s Japan Unit for $980M

Nippon Life Insurance Co said on Friday it had agreed to buy an 85 percent stake in the domestic unit of U.S.-based MassMutual Financial Group for about 104.2 billion yen ($980 million) as it aims to boost its bancassurance sales. …

AIR Worldwide Introduces Inland Flood Model for Japan

Catastrophe modeling firm AIR Worldwide has introduced a new inland flood model for Japan along with enhancements to its Japan typhoon model. These models are part of Version 5.1 of AIR’s catastrophe modeling software platform, Touchstone. The AIR Inland Flood …