On July 18, 2025, Yukinori Takada, Director, Representative Executive Officer, President & CEO of Sumitomo Life Insurance Company, was elected as the 63rd chairperson of the Life Insurance Association of Japan (LIAJ) during its board meeting.
In his inaugural policy statement, Takada emphasized the association’s commitment to fostering a better, more sustainable future through trust and reliability in the life insurance industry. “Our mission is to promote the sound development and maintain the reliability of the life insurance sector in Japan, thereby enhancing the quality of life for our citizens,” Takada said.
Takada acknowledged the changing environment in Japan, highlighting the significant challenges citizens are facing. He pointed out the continuing effects of U.S. economic policies, rising raw material and energy costs, and the ongoing shortages of commodities. Additionally, the country is grappling with unpredictable and severe natural disasters, all of which contribute to a highly uncertain environment.
A key focus for Takada and the LIAJ is Japan’s aging population. In 2025, baby boomers will turn 75 or older, marking a pivotal demographic shift. As medical and care needs increase, so too will social security costs, while a growing labor shortage is expected to exacerbate these challenges. Takada noted that Japan, like other nations, faces unprecedented issues that may have long-term consequences for its citizens’ quality of life.
“In these critical times, it is essential for the life insurance industry— which has long been a pillar of future security—to fulfill its role,” Takada continued. “We believe that by demonstrating our commitment through reliable, trustworthy business practices, we can contribute significantly to improving people’s lives.”
Takada concluded by emphasizing the life insurance industry’s role in supporting customers throughout their lives. “We are here to help individuals lead flourishing lives and, together, we can build a better, more co-existing future, even in the face of adversity.”
Related topics:
- Health Insurance Premiums Could Rise by 75% as ACA Subsidies Expire
- Techcombank, Vingroup Launch New Life Insurance Firm in Vietnam
- UAE Health Insurance Market Set to Hit $14.9 Billion by 2033 Amid Rising Demand
