Daiichi Life Group / formerly Dai-ichi Life HD
ConfidenceCertainUpdated2026-07-30Review by2026-10-27Sources6Machine-translatedOriginal (JA)
On this page
- TL;DR
- 1. Company overview
- Key KPIs (FY2024 = 2025-03 period, consolidated, disclosed 2025-05-15)
- Key KPIs (overview / business type)
- Main subsidiaries / holdings
- Main shareholder composition (based on public information)
- Key timeline (excerpt)
- 2. Business segment map
- Domestic 3 -axis channel strategy
- Overseas strategy
- Asset-management joint venture
- DX / insurtech
- Competitive structure
- 4. Regulation / policy
- Related
- Sources
Wiki route
This entry sits under life-insurers INDEX. Read it against Nippon Life for peer / contrast context and insurance index for the broader system / regulatory boundary.
TL;DR
Daiichi Life Group, Inc. is a listed insurance group (securities code 8750) that was founded in 1902 as Japan’s first mutual life insurance company, demutualized and listed in 2010, and moved to a holding-company structure in 2016. It changed its name from Dai-ichi Life Holdings, Inc. to its current name on 2026-04-01. Its official FY2024 financial results for the year ended 2025-03 reported JPY 429.6 billion in net income attributable to owners of the parent, JPY 719.0 billion in ordinary profit, and JPY 69.5929 trillion in total assets at year-end. ^[Corporate profile and current trade name: https://www.daiichilife-group.com/en/about/outline.html; history: https://www.daiichilife-group.com/en/about/history.html; FY2024 results: https://www.daiichilife-group.com/en/investor/library/earning/pdf/2024/2024_001.pdf]
1. Company overview
Legal name: 株式会社第一ライフグループ (trade name changed 2026-04-01) Former trade name: Dai-ichi Life Holdings, Inc. (第一生命ホールディングス株式会社) English name: Daiichi Life Group, Inc. Securities code: TSE PRIME 8750 Founded: 1902-09 (formerly Dai-ichi Mutual Life Insurance Company, founded by Tsuneta Yano) Demutualization and listing: 2010-04-01 Holding-company conversion: 2016-10-01 (launch of Dai-ichi Life HD) Headquarters: 1-13-1 Yurakucho, Chiyoda-ku, Tokyo (Dai-ichi Life Building) Business type: listed insurance holding company ^[https://www.daiichilife-group.com/en/about/outline.html]
Key KPIs (FY2024 = 2025-03 period, consolidated, disclosed 2025-05-15)
The following table is scoped to public primary sources (daiichilife-group.com, dai-ichi-life-hd.com, fsa.go.jp). It restates licence / structure / product boundaries from those materials and does not invent market share, ranking, or unstated numerical claims. ↗
| Item | FY2024 actual | YoY |
|---|---|---|
| Ordinary revenue | 9 兆 8,732 億円 | ▲10.5% (same period prior year +1.15 兆 decrease) |
| Ordinary profit | 7,191 億円 | +33.4% |
| Net income attributable to parent-company shareholders | 4,296 億円 | +34% |
| Total assets | about 69.6 兆円 | increase |
| ROE | 11.7% | improved |
| Overseas business profit | 1,146 億円 (first time exceeding 1,000 億) | Protective profit about 3.4 x |
| Dai-ichi Life Insurance standalone net income | 3,055 億円 | +50% |
| Dividend | 137 円/share (+24 円) | dividend increase |
| Share buyback | 1,000 億円 additional announcement | strengthened shareholder returns |
| Number of employees (consolidated) | about 60,814 名 | efficiency improvement ongoing |
FY2025 full-year forecast (based on FY2025 1H actuals, 2026-03 period): net income about 3,470 億円 (▲19% assumed) — investment income expected to shrink on concerns over US tariff policy. FY2025 1H (2025-09 period) actuals: ordinary revenue 5 兆 1,196 億円 (▲1.4%), ordinary profit 3,434 億円 (▲7.7%), interim net income 2,096 億円 (▲10.1%).
Key KPIs (overview / business type)
The following table is scoped to public primary sources (daiichilife-group.com, dai-ichi-life-hd.com, fsa.go.jp). It restates licence / structure / product boundaries from those materials and does not invent market share, ranking, or unstated numerical claims. ↗
| Item | Overview |
|---|---|
| Business type | one of the major domestic 4 life insurers (Dai-ichi Life / nippon-life / Sumitomo Life / Meiji Yasuda Life) |
| Listing | TSE PRIME 8750 (listed 2010-04-01, the largest mutual-to-stock conversion in history at the time) |
| Main businesses | domestic life insurance (Dai-ichi Life Insurance) + overseas (Protective / TAL) + asset management |
| Overseas subsidiaries | Protective Life (US, made a consolidated subsidiary 2015-02 , about 5,800 億円) / TAL (Australia) / Star Union Dai-ichi (India) |
| Mid-term plan | “Re-connect 2026” (2024〜) / overseas profit contribution ratio 40% target (FY2026) |
Main subsidiaries / holdings
第一ライフグループ（旧 第一生命 HD、持株会社・上場 8750）
├── 第一生命保険（100%）── 主力国内事業・営業職員チャネル
├── 第一フロンティア生命（100%）── 銀行窓販向け（貯蓄性商品中心)
├── ネオファースト生命（100%）── ネット・乗合代理店向け
├── Protective Life Corporation（米国, 100%）── 2015-02 連結子会社化、米生保第 13 位
├── TAL Dai-ichi Life Australia（豪州）── 豪州生保大手
├── Star Union Dai-ichi Life Insurance（印度）── インド合弁
├── 第一生命ベトナム / ミャンマー等 ── アジア展開
├── アセットマネジメント One（49%）── みずほ FG と JV、信託・運用 ★
└── 第一生命経済研究所 ── シンクタンクMain shareholder composition (based on public information)
- Because it was formerly a mutual company, there was no controlling shareholder at founding; at the 2010-04 listing, shares were widely dispersed via new-share allotments and offerings to policyholders
Key timeline (excerpt)
The following table is scoped to public primary sources (daiichilife-group.com, dai-ichi-life-hd.com, fsa.go.jp). It restates licence / structure / product boundaries from those materials and does not invent market share, ranking, or unstated numerical claims. ↗
| Year/month | Event |
|---|---|
| 1902-09 | Founded (Tsuneta Yano, formerly Dai-ichi Mutual Life Insurance Company, Japan’s first mutual-company-form insurance) |
| Prewar〜postwar | established its position as a major domestic life insurer as a mutual company |
| 2007-10 | invested 30% in Tower Australia (later TAL) |
| 2010-04-01 | demutualized and listed on the TSE First Section (the largest mutual-to-stock conversion in history at the time) |
| 2011-05 | made TAL a wholly owned subsidiary (Australia) |
| 2015-02 | completed acquisition of Protective Life Corporation (US, about 5,800 億円, US life insurer No. 13 位) |
| 2016-09 | launch of Asset Management One (integration of 4 Mizuho-affiliated asset-management companies, Dai-ichi Life 49% / Mizuho FG 51%) |
| 2016-10-01 | establishment of Dai-ichi Life HD (holding-company conversion, launch of the current entity) |
| 2017〜 | strengthened Asia expansion such as Star Union Dai-ichi (India) and Dai-ichi Life Vietnam |
| 2019 | full-scale “insurtech” strategy, rollout of the health-promotion-type insurance “Kenko Daiichi” |
| 2020〜 | Dai-ichi Life “Special Investigation Committee” matter (inappropriate money transactions by some sales representatives, external investigation → business improvement plan) |
| 2024 | mid-term management plan “Re-connect 2026” (2024〜2026 年 fiscal year) announced |
| 2025-05 | FY2024 results: net income 4,296 億円 (+34%), overseas business exceeding 1,000 億円 for the first time, additional share buyback 1,000 億円 |
2. Business segment map
The following table is scoped to public primary sources (daiichilife-group.com, dai-ichi-life-hd.com, fsa.go.jp). It restates licence / structure / product boundaries from those materials and does not invent market share, ranking, or unstated numerical claims. ↗
| Segment | Main operator | Characteristics |
|---|---|---|
| Domestic life insurance (sales representatives) | Dai-ichi Life Insurance | sales-representative (Lifetime Design Designer) channel, traditional mainstay (FY2024 net income 3,055 億円 +50%) |
| Domestic life insurance (bank counter sales) | Dai-ichi Frontier Life | centered on savings-type / single-premium products, specialized in bank-counter sales |
| Domestic life insurance (agency) | Neo First Life | for net / multi-tied agencies, medical insurance, etc. |
| US life insurance | Protective Life Corporation | US life insurer No. 13 位, acquired for about 5,800 億円 (2015-02), FY2024 profit about 3.4 x |
| Australian life insurance | TAL Dai-ichi Life Australia | major Australian life insurer, strong in group insurance |
| Indian life insurance | Star Union Dai-ichi Life | Indian joint venture |
| Asia emerging | Dai-ichi Life Vietnam / Myanmar, etc. | growth-market expansion |
| Asset management | Asset Management One (49%) | JV with mizuho-fg, one of the largest Japanese-bank-affiliated asset managers |
| Think tank | Dai-ichi Life Research Institute | macro / market analysis |
| DX / health promotion | “Kenko Daiichi” app / health-promotion-type insurance | insurtech |
Domestic 3 -axis channel strategy
- Sales-representative channel: Dai-ichi Life Insurance’s “Lifetime Design Designer,” the traditional mainstay (one of the two major sales-representative channels alongside nippon-life)
- Bank counter sales: Dai-ichi Frontier Life, specialized in savings-type single-premium products (megabank / regional-bank channels)
- Multi-tied agency / net: Neo First Life, medical insurance and third-sector products
Overseas strategy
- US (Protective Life): made a consolidated subsidiary 2015-02 for about 5,800 億円, US life insurer No. 13 位. FY2024 profit about 3.4 x (yen-depreciation effect + expanded investment income from rising interest rates)
- Australia (TAL): invested 2007-10 → made a wholly owned subsidiary 2011-05 , major Australian group insurer
- India (Star Union Dai-ichi): joint venture, bank-affiliated channels such as Bank of India + Union Bank of India
- Asia emerging (Vietnam / Myanmar, etc.): growth markets, long-term cultivation
- Strategic significance: an overseas-diversification hedge against the domestic environment of population decline / low interest rates. FY2026 target: overseas life-insurance business profit contribution ratio 40%
Asset-management joint venture
- Asset Management One (launched 2016-09 ): Dai-ichi Life HD 49% + mizuho-fg 51%. Integration of 4 社 Mizuho-affiliated firms (DIAM, Shinko Investment Trust, Mizuho Asset Management, Mizuho Trust asset management), one of the largest Japanese-bank-affiliated
DX / insurtech
- “Kenko Daiichi” app: health-promotion-type insurance, Apple Watch linkage / use of health data
- Insurtech strategy (2019〜): expansion of digital channels, AI underwriting assessment
- Data-driven: in cooperation with the Dai-ichi Life Research Institute, use of health / medical data
Competitive structure
- Major domestic 4 life insurers: Dai-ichi / nippon-life / Sumitomo / Meiji Yasuda. By total-asset scale nippon-life is first, and Dai-ichi Life is the only major one that is a stock company and listed (the other 3 社 are mutual companies)
- Advantages of demutualization: agile capital raising / M&A (such as the Protective acquisition), governance transparency, shareholder returns (FY2024 137 円 dividend +24 円 / 1,000 億円 share buyback)
- Disadvantages of demutualization: the balance of short-term share-price pressure vs. long-term policyholder interests
4. Regulation / policy
- Supervisory authority: FSA, Insurance Business Act
- Soundness regulation: solvency margin ratio (SMR), with investment-policy impact from the 2025〜 introduction of economic-value-based solvency regulation (J-ICS / ESR)
- Overseas regulation: US (NAIC, state insurance authorities), Australia (APRA), India (IRDAI), etc.
- Accounting: IFRS 17 (insurance contracts) applied 2023〜, improving the financial transparency of Japanese life insurers
- Recent policy talking points:
- 2024〜 normalization of the BOJ policy rate → expectations for improved investment yields of domestic life insurers (contributing to FY2024 results)
- 2025〜 transition to economic-value-based regulation → pressure to review the asset-management portfolio
- 2025〜 concerns over US tariff policy lead to a forecast of shrinking FY2025 profit (▲19% full-year forecast)
- strengthened compliance of the sales-representative channel (after the 2020 年 inappropriate-money-transaction matter)
Related
Sources
- Daiichi Life Group company profile https://www.daiichilife-group.com/en/about/outline.html
- Daiichi Life Group history https://www.daiichilife-group.com/en/about/history.html
- Announcement of trade-name change https://www.dai-ichi-life-hd.com/en/newsroom/newsrelease/2024/pdf/index_040.pdf
- Financial results for the year ended March 2025 (consolidated, disclosed 2025-05-15) https://www.daiichilife-group.com/investor/library/earning/pdf/2024/2024_001.pdf
- Interim financial results for the year ending March 2026 (consolidated, disclosed 2025-11-14) https://www.dai-ichi-life-hd.com/investor/library/earning/pdf/2025_hanki_001.pdf
- Consolidated financial highlights (official IR) https://www.daiichilife-group.com/investor/financial/highlight.html
[!info] Verification status confidence: certain (2026-07-29). The current trade name, founding and organizational history, listing information, and principal FY2024 consolidated figures were rechecked against the official company profile, history, and financial results. KPIs from different dates should be read as disclosures for their respective fiscal periods.
Discovery
Keep reading
Read next
- 第一生命保険The Dai-ichi Life Insurance Company, Limited holds a life-insurance company license under the Insurance Business Act and is listed on the FSA's list of life-insurance company licenses; it is...
- Dai-ichi Neo Life Insurance (第一ネオ生命保険)第一ネオ生命保険株式会社 is a specialty life-insurance operating company of 第一ライフグループ that holds a life-insurance company license under the Insurance Business Act and is listed in the FSA's list of lice...
- Daido Life InsuranceDaido Life Insurance Company, Limited is the core life-insurance operating company of the td hd group. Listed in the FSA's life-insurer list, it is an entity that should be positioned within...
Links here
- Asset Management OneAsset Management One Co., Ltd. is an asset-management operating company holding Investment Management Business registration under the Financial Instruments and Exchange Act. In the FSA Finan...
- Nissay Asset Management (Nissay AM)Nissay Asset Management (Nissay AM) is the asset-management operating company of 日本生命保険 (相互会社). In the FSA list of financial instruments business operators it is listed as "Nissay Asset Mana...
- Custody Bank of Japan operating modelCustody Bank of Japan (CBJ — 日本カストディ銀行) is an asset-administration bank created in July 2020 through the merger of JTC Holdings, Japan Trustee Services Bank, and Trust & Custody Services Ban...
- Pension trust mandate allocation JapanJapanese public and private pensions use several legally distinct arrangements. GPIF publishes its operating framework and manager / custodian information; corporate DB and DC arrangements d...
- 農林中央金庫 (Norinchukin Bank)The Norinchukin Bank is a national cooperative financial institution whose members include JA, JF, JForest, and their federations. It is a private financial institution governed by the Norin...