JAPANESE AUTO POLICY SALES UP 8% AT 8 INSURERS IN FY09

Sony Assurance Inc. and seven other direct-sales nonlife insurers saw their combined Auto Insurance premiums rise 8 per cent on the year to 183.5 billion yen (US$20.02 billion) in fiscal 2009. With rates about 20 per cent less than those of major conventional casualty insurers, many vehicle owners have switched to these direct-sales nonlife insurers, whose revenue gain far outstripped the 0.7 per cent rise in combined premium income at Tokio Marine & Nichido Fire Insurance Co. and five other conventional players. Premium income rose at five direct-sales players, climbing 11.2 per cent to 59.84 billion yen at Sony Assurance and 9.1 per cent to 32.05 billion yen at Mitsui Direct General Insurance Co.