Japan Insurance Tenders

Japan's insurance market is the second largest in the world, with total premiums written of ¥39.7 trillion in 2022.
The life insurance segment is dominant, accounting for 72% of total premiums written.
The non-life insurance segment is also significant, with premiums written of ¥11.4 trillion in 2022.
The Japanese insurance market is highly regulated, with the Financial Services Agency (FSA) being the primary regulator.

The Japanese government is a major procurer of insurance products and services.
In 2022, the Japanese government spent ¥1.5 trillion on insurance procurement.
The main types of insurance products and services procured by the Japanese government are life insurance, health insurance, and property and casualty insurance.

Life insurance: The Japanese government procures life insurance for its employees and for social welfare programs.
Health insurance: The Japanese government procures health insurance for its employees and for citizens.
Property and casualty insurance: The Japanese government procures property and casualty insurance for its assets.

The Ministry of Finance (MOF) is responsible for overseeing the procurement of insurance products and services for the Japanese government.
The Financial Services Agency (FSA) is responsible for regulating the insurance industry in Japan.
The Government Procurement Service (GPS) is responsible for conducting procurement auctions for the Japanese government.

The top three winners of Japan insurance procurement in 2022 were:
Nippon Life Insurance Company
Dai-ichi Life Insurance Company
Sompo Japan Nipponkoa Insurance Company

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