Recent competition in the Japanese life insurance industry

Arbeitspapier

This paper examines a change in the level of competition in the Japanese life insurance industry over the last 17 years. We estimate the first order condition for profit-maximizing insurance oligopolies to obtain the degree of non-competition and collusion. Estimation results suggest that: 1) not only stock companies, but also mutual companies maximize their own profits rather than pay out dividends to policyholders; 2) competition has become stronger since 1995; 3) revision of Insurance Industry Law and failures of insurance companies promoted the competition; and 4) the competition in the recent years is still more lax than the pre-war period.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: ISER Discussion Paper ; No. 637

Classification and Topics

• Classification: Wirtschaft ; Insurance; Insurance Companies; Actuarial Studies ; Oligopoly and Other Imperfect Markets ; Business Objectives of the Firm
• Subject: Life insurance ; Degree of competition ; Collusion ; Japan

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Souma, Toshiyuki ; Tsutsui, Yoshiro
• Event: Veröffentlichung
• (who): Osaka University, Institute of Social and Economic Research (ISER)
• (where): Osaka
• (when): 2005

Further information

• Handle: http://hdl.handle.net/10419/92630
• Last update: 10.03.2025, 11:42 AM CET