Yamato Life

Yamato Life Insurance Building in Uchisaiwaichō, before its demolition in 2023

The Yamato Life Insurance Company (大和生命保険, Yamato Seimei Hoken Kabushiki-gaisha) (TYO: 0018) was a life-insurance company in Japan. Yamato's headquarters were in Uchisaiwaichō, Chiyoda, Tokyo.[1]

History

The company was founded on September 20, 1889, and was capitalized at ¥12,086,963,000. In 1911, it entered the market for conscription insurance (under the name Nippon Chōhei Hoken), but after Japan's defeat in World War II and the elimination of military conscription, it changed its focus to life insurance and changed its name to Yamato Life in 1945.[2] It has policies valued at ¥34,500,000,000.[citation needed]

Bankruptcy

The company filed for bankruptcy on October 10, 2008 after the global financial crisis significantly devalued its assets [3][4] particularly mortgages in Nevada. Its assets would later be acquired by the American-based insurance company Prudential Financial.

References

  1. ^ "会社概要." Yamato Life. February 5, 2005. Retrieved on January 20, 2010. "所在地 〒100-0011東京都千代田区内幸町一丁目１番７号"
  2. ^ Jiang, YingYing (2022-10-15). "Conscription Insurance in Pre-war Japan - Private Enterprise and National Interest". Contemporary Japan: 1–23. doi:10.1080/18692729.2022.2133667. ISSN 1869-2729. S2CID 252913993.
  3. ^ Ito, Komaki & Yamazaki, Tomoko (2008). "Yamato Life Files for Bankruptcy, Citing Investments (Update3)". Bloomberg. Retrieved 2008-10-11.
  4. ^ (in Japanese) Yamato Life (PDF) Retrieved October 10, 2008


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