Dai-ichi Life
{{Short description|Japanese life insurance company}}
{{Infobox company
| name = The Dai-ichi Life Insurance Company, Limited
| logo = Dai-ichi Life logo.svg
| type = Subsidiary
| image = DN-Tower-02.jpg
| image_size = 220px
| image_caption = Headquarters at the DN Tower 21
| traded_as = {{Tyo|8750}}
TOPIX Large 70 Component
(Dai-ichi Life Holdings)
| foundation = {{start date and age|1902|09|15}} (as mutual company)
April 1, 2010 (as stock company)
| founder = Tsuneta Yano
| location_city = DN Tower 21, 1-13-1, Yurakucho, Chiyoda. Tokyo
| location_country = Japan
| industry = Insurance
| products = Insurance
| revenue = 5.28 trillion yen (FY 2013)
| net_income = 32.4 billion yen (FY 2013)
| aum =
| assets = $346.9 billion (2015),{{cite web|url=https://www.forbes.com/global2000/list/2/#header:assets_sortreverse:true|title=The World's Biggest Public Companies|website=forbes.com|access-date=10 April 2018}} Solvency ratio: 763.8%
| equity = 1.64 trillion yen (March 2013)
| num_employees = 61,335 (2013)
| parent = Dai-ichi Life Holdings, Inc.
| homepage = {{URL|www.dai-ichi-life.co.jp}}
}}
{{nihongo|The Dai-ichi Life Insurance Company, Limited|第一生命保険株式会社|Dai-ichi Seimei Hoken Kabushiki-kaisha}}, or Dai-ichi Life for short, is the third-largest life insurer in Japan by revenue, behind Japan Post Insurance and Nippon Life.
Founded on September 15, 1902, Dai-Ichi was one of the oldest mutual insurance companies in Japan until a motion to demutualise was passed in 2009 and, on April 1, 2010, it listed on the Tokyo Stock Exchange, raising 1.01 trillion yen. As of March 2013, it had the most assets of any listed company in Japan with a total of 33 trillion yen on its stand-alone balance sheet, more than twice the total assets of #2-ranked Tokyo Electric Power Company.{{cite web|url=http://info.finance.yahoo.co.jp/ranking/?kd=51&mk=1&tm=d&vl=a|title=Total asset Daily ranking - Zenshijo Kabushiki ranking - Yahoo!Finance|website=yahoo.co.jp|access-date=10 April 2018}}
It was announced in October 2014 that Dai-ichi would raise US$1 billion by issuing US-dollar-denominated subordinated bonds in overseas markets.[https://www.reuters.com/article/us-daiichi-life-bonds-idUSKCN0I406C20141015 Dai-ichi Life to raise $1 billion via subordinated bond issue]. Reuters, 14 October 2014
It is also the largest single shareholder of the Tokyu Corporation, holding 6.35% of all issued stock.
Key facts
As of March 30, 2006:
- Total assets - US$276,552 million
- Policy reserves - US$227,524 million
- Total capital - US$21,425 million
- Solvency margin ratio - 1,095.5%
- Policies in force - US$2,085 billion
- Policyholders - 8,646,469
History
{{Prose|section|date=February 2020}}
- 1902 - Founded by a statistician and the Earl Yanagisawa Yasutoshi, Ohashi Shintaro, the President of the Hakubunkan, and the Lieutenant Hamaguchi Kichibe, supported by an insurance doctor Yano Kota.
- 1937 - After Marco Polo Bridge Incident in July which the Major general Masakazu Kawabe and the Colonel Renya Mutaguchi led the Second Sino-Japanese War, Ministry of Commerce and Industry and Ministry of Colonial Affairs issued Manturia Insurance Business Act on December 27 and enforced it the next day.[https://dl.ndl.go.jp/pid/1582620/1/8 Hoken Ginko Jiho]（Insurance Bank Reports）. 1934.{{cite web | url=https://dl.ndl.go.jp/pid/11196751/1/45 | title=国立国会図書館デジタルコレクション }}{{efn|The govt has originally planned to issue the Manturia Insurance Business Act in July.{{cite web | url=https://dl.ndl.go.jp/pid/1587235/1/45 | title=国立国会図書館デジタルコレクション }} }}
- 1938 - Taizō Ishizaka, former high-rank officer of Ministry of Communications become the President of Dai-ichi Life and licensed for business in Manchuria.[https://shashi.shibusawa.or.jp/details_nenpyo.php?sid=10450&query=&class=&d=all&page=29 Shibusawa Shashi Database](Shibusawa Business History Database). Tokyo head office relocated to current place, Yurakucho, Hibiya.
- 1945 - The Tokyo head office was requisitioned as the Supreme Commander for the Allied Powers (GHQ) government building.
- 1975 - first overseas representative office is established in New York City.
- 1977 - begins to sell UU Insurance for the male.
- 1982 - first European representative office is established in London.
- 1990 - investment in Lincoln National Life Insurance Company marked the first time a Japanese company participated in capitalizing a leading U.S. insurer.
- 1993 - completion of the DN Tower 21, a new head office building.
- 1995 - Great Hanshin earthquake: simplification of claims settlement procedures.
- 1996 - establishment of the Dai-ichi Property and Casualty Insurance Co., Ltd.
- 1997 - establishment of Dai-ichi Life Research Institute Inc.
- 1999 - agreement on total business cooperation with the Industrial Bank of Japan (now Mizuho Financial Group.)
- 2000 - agreement to form a comprehensive business alliance with Sompo Japan Insurance and Aflac.
- 2002 - celebration of its 100th anniversary.
- 2010 - Demutualization and stock listing on the Tokyo Stock Exchange
- 2011 - completes take over of ASX listed Tower Australia life insurance company, the wholly owned subsidiary is then renamed TAL
- 2015 - purchased Protective Life Corporation{{cite web|title=Protective Announces Completion of Acquisition By Dai-ichi Life|url=http://investor.protective.com/press-release/industry/protective-announces-completion-acquisition-dai-ichi-life|website=Protective|access-date=10 November 2015|archive-date=7 December 2015|archive-url=https://web.archive.org/web/20151207074327/http://investor.protective.com/press-release/industry/protective-announces-completion-acquisition-dai-ichi-life|url-status=dead}}
As an institutional investor
As an institutional investor, Dai-ichi Life Holdings owns 230 Japanese companies' stocks as of 2022.Kabunushi Pro '[http://www.kabupro.jp/edx/E06141.htm Dai-ichi Life Holdings.]
Gallery
{{Gallery
|align=center
|width=180
|height=
|File:Dai-ichi Mutual Life Insurance Company Building in the Taisho era.JPG|Dai-ichi Sougo-Kan, in 1921|File:GHQ_building_circa_1950.JPG|Tokyo Headquarter Building Built in 1938|File:Daiichi-Life Building Osaka 1953.png|Osaka Headquarter Building constructed by Takenaka Corporation in 1953|File:Dai-ichi Mutual Life Oi office.jpg|Kanagawa Branch Building built in 1967|File:Daiichi-Life Sogokan 1971.png|Rebuilt Sogo-kan Building in 1971|File:Shinjuku-Daiichi-Life-Building-01.jpg|Odakyu Dai-ichi Life building built in 1980|File:Tower_Build_01_cropped.jpg|Sendai Branch Building built in 1985|file:Osaka_Daiichi_Life_Bldg_Osaka_Japan01-r.jpg|Osaka Dai-ichi Life building, built by Takenaka Corporation in 1990|File:DN-Tower-02.jpg|Hibiya Dai-ichi Life First Building, in 1993, constructed by Shimizu Corporation|File:Umeda_Square_Bldg_Osaka_Japan01-r.jpg|Umeda Building in 1995|File:Umeshin_Dai-ichi_Seimei_Building_Osaka_Japan01-r.jpg|Umeshin Building in 2007 in Osaka|File:Sougokan_110tower(20151025).JPG|Sogo-kan 110 Tower in 2012 in Tokyo|File:Tanzmeisterhaus_in_salzburg.jpg|Participating the project of International Mozarteum Foundation}}
See also
- Disney: is charged for the Dai-ichi Life's advertisement
References
;Notes
{{notelist}}
;Source
{{Reflist|2}}
External links
- [http://www.dai-ichi-life.co.jp/ The Dai-ichi Mutual Life Insurance Company] (in Japanese)
- [https://web.archive.org/web/20060321042841/http://www.dai-ichi-life.co.jp/company/gyouseki/english/ The Dai-ichi Mutual Life Insurance Company Annual Report] (in English)
{{Major insurance companies}}
{{TOPIX 100}}
{{Nikkei 225}}
{{Authority control}}
{{DEFAULTSORT:Dai-ichi Mutual Life Insurance Company}}
Category:Insurance companies based in Tokyo
Category:Companies listed on the Tokyo Stock Exchange
Category:Companies in the Nikkei 225