Growing demand to review insurance and financial services

「Demand for personal asset formation remains high, supported by rising deposit interest rates and the growing adoption of the new NISA scheme.」

「The shift "from savings to investment" is advancing further, and the importance of financial literacy is increasing, particularly as the use of NISA and iDeCo through investment trusts expands. Against this backdrop, demand for our services is also steadily increasing.」

「In the financial sector, the shift "from savings to investment" is continuing, but cash and deposits still account for a high proportion of household financial assets, while the proportion held in risk assets remains low compared with Europe, the United States and other countries. To address these issues, demand for our services is increasing, including the promotion of NISA and iDeCo through investment trusts and the introduction of financial education.」

「The shift of individual financial assets "from savings to investment" remained solid during the cumulative six-month period, and the insurance industry also continued to perform well, with new individual annuity contracts reaching 132.5% year on year for the cumulative period from April 2023 to March 2024. At our company, "NISA-related events" have also been well received as customer needs have expanded.」

「Positive factors supporting expectations for a revitalisation of economic conditions were identified, including the launch of the new NISA system in January 2024 and the Nikkei 225 reaching a new record high in February for the first time in 34 years and 2 months. The shift of individual financial assets "from savings to investment" was also supported,」

「The trend toward "self-help efforts for future financial needs" is expected to continue, supported by the effects of iDeCo reforms and the launch of the new NISA system under the government's "Doubling Asset-based Income Plan."」

「The trend toward "self-help efforts for future financial needs," including the government's reforms to iDeCo under its "Doubling Asset-based Income Plan" and the new NISA system launched in 2024, is expected to continue rather than prove temporary.」

「In the insurance industry, demand is expected to increase for reviewing existing insurance policies and considering new coverage, following the exclusion of deemed hospitalisation from insurance benefit coverage after COVID-19 was reclassified as a Category 5 infectious disease, as well as growing interest in self-help measures in response to rising prices.」

「As the government's "Doubling Asset-based Income Plan," announced in November 2022, draws attention to asset building, demand in the life insurance industry is expected to increase further for products such as variable insurance that combine "security" with "asset management."」

「Against this backdrop, we continue to receive many inquiries from customers who need to review their life plans and financial plans, including consultations about money and insurance, and the number of sales of variable insurance, our main product, also increased.」

「Demand for financial services, including reviewing household finances and insurance coverage and considering asset management, is expected to continue increasing.」