October 01, 2016 12:48 AM ET

Insurance

Company Overview of Sumitomo Life Insurance Company

Company Overview

Sumitomo Life Insurance Company provides life insurance products primarily in Japan. It offers medical and nursing care insurance, as well as retirement planning products; individual life insurance and individual annuities; group insurance and group annuities; workers’ asset-formation insurance and annuities; and other insurance products. The company markets its products through sales representatives, financial institutions, and insurance outlets. Sumitomo Life Insurance Company was founded in 1907 and is headquartered in Osaka, Japan.

1-4-35, Shiromi

Chuo-ku

Osaka,  540-8512

Japan

Founded in 1907

Phone:

81 6 6937 1435

Key Executives for Sumitomo Life Insurance Company

Chief Executive Officer, President, Representative Executive Officer, Director, Member of Nominating Committee and Member of Compensation Committee
Age: 60
Chairman, Representative Executive Officer, Member of Nominating Committee and Member of Compensation Committee
Age: 67
Senior Managing Executive Officer and Director
Age: 59
Senior Managing Executive Officer and Director
Age: 58
Senior Managing Executive Officer
Age: 57
Compensation as of Fiscal Year 2016.

Sumitomo Life Insurance Company Key Developments

Sumitomo Life Insurance Company Announces Unaudited Consolidated Earnings Results for the First Quarter Ended June 30, 2016

Sumitomo Life Insurance Company announced unaudited consolidated earnings results for the first quarter ended June 30, 2016. For the quarter, the company reported ordinary income of JPY 1,017,049 million against JPY 946,727 million a year ago. Ordinary profit was JPY 63,033 million against JPY 36,776 million a year ago. Surplus before income taxes was JPY 15,888 million against JPY 23,170 million a year ago. Net surplus attributable to the parent company was JPY 15,117 million against JPY 20,279 million a year ago. Premium revenue increased 5.7% to JPY 789.1 billion, backed by strong sales of individual annuity products and on the back of its acquisition of a U.S. life insurer in February. Core profit tumbled by 49.5% to JPY 42.7 billion.

Sumitomo Life Insurance Co., South Africa Financial Services Company, and Softbank Corp. Announces Strategic Partnership for Japan Vitality Project Including Joint Development and Introduction of Insurance Products

Sumitomo Life Insurance Co., South Africa financial services company, and SoftBank Corp. announced a strategic partnership that will start joint efforts for the Japan Vitality Project, which will include the joint development and the introduction of insurance products incorporated with Vitality, Discovery's globally recognised wellness programme, into the Japanese life insurance market in partnership between Sumitomo Life and Discovery, and joint development of the platform for collection of health related data and wellness activities by utilizing Internet of Things in partnership between Sumitomo Life and SoftBank. The purpose of the Japan Vitality Project is to contribute to improving the health of customers and lengthening the healthy life expectancy of Japan by encouraging customers to engage in ongoing health-enhancing activities through Discovery's global Vitality Program. Based on the concept of creating shared value between customers, society, and companies and their employees, the Project intends to early start services, pending approval of the relevant authorities.

Sumitomo Life Insurance Company, Annual General Meeting, Jul 05, 2016

Sumitomo Life Insurance Company, Annual General Meeting, Jul 05, 2016.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 27, 2016
Sumitomo Mitsui Asset Management Company Limited
 

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