Dai-ichi Life

The Dai-ichi Life Insurance Company, Limited
	Headquarters at the DN Tower 21
Company type	Kabushiki gaisha; Subsidiary
Traded as	TYO: 8750; TOPIX Large 70 Component; (Dai-ichi Life Holdings)
Industry	Insurance
Founded	September 15, 1902; 122 years ago (as mutual company); April 1, 2010 (as stock company)
Founder	Tsuneta Yano
Headquarters	DN Tower 21, 1-13-1, Yurakucho, Chiyoda. Tokyo, Japan
Products	Insurance
Revenue	5.28 trillion yen (FY 2013)
Net income	32.4 billion yen (FY 2013)
Total assets	$346.9 billion (2015), Solvency ratio: 763.8%
Total equity	1.64 trillion yen (March 2013)
Number of employees	61,335 (2013)
Parent	Dai-ichi Life Holdings, Inc.
Website	www.dai-ichi-life.co.jp

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.^[2]

It was announced in October 2014 that Dai-ichi would raise US$1 billion by issuing US-dollar-denominated subordinated bonds in overseas markets.^[3]

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

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.^[4]^[5]^[a]
1938 - Taizō Ishizaka, former high-rank officer of Ministry of Communications become the President of Dai-ichi Life and licensed for business in Manchuria.^[7] 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^[8]

As an institutional investor

As an institutional investor, Dai-ichi Life Holdings owns 230 Japanese companies' stocks as of 2022.^[9]

Gallery

Dai-ichi Sougo-Kan, in 1921
Tokyo Headquarter Building Built in 1938
Osaka Headquarter Building constructed by Takenaka Corporation in 1953
Kanagawa Branch Building built in 1967
Rebuilt Sogo-kan Building in 1971
Odakyu Dai-ichi Life building built in 1980
Sendai Branch Building built in 1985
Osaka Dai-ichi Life building, built by Takenaka Corporation in 1990
Hibiya Dai-ichi Life First Building, in 1993, constructed by Shimizu Corporation
Umeda Building in 1995
Umeshin Building in 2007 in Osaka
Sogo-kan 110 Tower in 2012 in Tokyo
Participating the project of International Mozarteum Foundation