Feature Improvement of Quality of Life Protection - Expansion of Business into the Mekong Region

Contributing to the Stability of Lifestyles in Emerging Asian Countries by Spreading Insurance

Since commencing operations in Vietnam in 2007, the Dai-ichi Life Group has proactively expanded its business into emerging Asian countries. Going forward, we will promote proactive initiatives in Cambodia and Myanmar, expecting the full-fledged spread of insurance due to the high percentage of young people and their potential for contributing to economic growth. With the spread of insurance, we will contribute to the stability of people's well-being.

Issue Awareness

In Asian emerging countries, social security systems are yet to be developed. As such, comparing to developed countries, people's lives in Asian emerging countries are vulnerable to emergencies. In this sense, life insurance complements social security systems and has gradually spread as a means of financial protection against unexpected risks as well as a means of asset-building. At the same time, insurance penetration rate in these countries is still relatively low and preparation for emergencies is insufficient.

Insurance Penetration (Premium Revenue/GDP)

figure: Insurance Penetration (Premium Revenue/GDP) figure: Insurance Penetration (Premium Revenue/GDP)

Expected Role of Dai-ichi Life Group:
Providing Long-Term Peace of Mind through Life Insurance

Proactively expanding its business into emerging Asian countries and providing ideal products in each market using optimal channels based on specifics of each country, the Dai-ichi Life Group believes that it can deliver long-term peace of mind to those markets through life insurance. In addition, considering the need for total life plan design and health promotion, we believe that by spreading and penetrating that in each country, we can contribute to the stability of people's lifestyles at an unprecedented level.

Fully Leveraging Group Experience and Capabilities

As one of our initiatives in the Mekong region, in March 2018, we became the first Japanese life insurance company to establish a subsidiary in Cambodia, and it commenced operations in April 2019.

In Myanmar, in April 2019, we became the only Japanese life insurance company to acquire a provisional business permit for a wholly-owned subsidiary, after which we established a preparation company in May. Today, we are moving forward to start business in Myanmar.

To proceed with full-fledged business operation in these countries, in addition to Dai-ichi Life Vietnam providing expertise that it has cultivated over time in the Mekong region, it is essential to fully leverage regional headquarters in Singapore, which oversees operations for the Group's insurance companies in the Asia region.

Specific examples of such support include providing marketing know-how and expertise on actuarial and risk management functions, as well as assistance with establishing infrastructure systems.

Going forward, by fully leveraging the experience and expertise we have gained in emerging Asian countries so far, we aim to contribute to further stabilize the lives of the people in the Mekong region and other countries by promoting life insurance. We also intend to contribute to the economic growth in these countries through the development of the life insurance industry.

figure: Dai-ichi Life Vietnam