Dai-ichi Life Raised Full-Year Guidance on Increased Positive Spread

Following its demutualization and 2010 IPO, Dai-ichi Life Holdings has evolved from one of Japan's four leading traditional life insurers into a multinational holding company pursuing a multi-brand, multi-channel strategy. In Japan, Dai-ichi Life Insurance is still the largest entity, accounting for more than half of total assets, premiums, and profits. Its main sales channel is tied agents who are long-term employees of the company and give customized consultations to potential customers at their workplaces or homes, with various products tailored to different age groups and their savings and protection needs. The second-largest domestic entity is Dai-ichi Frontier Life, established in 2006 when Japan was deregulating bancassurance and having steadily grown since then. It provides in-depth on-site training to bank tellers who mainly sell savings products, particularly foreign-currency-linked annuities. The third and smallest domestic entity is Dai-ichi Neo Life, which focuses on selling via the internet by providing products that are relatively easy to understand and easy for the insurer to process. Neo is small but growing rapidly with a skew toward younger customers.