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Home > Company Index > Insurance > Life Insurance > The Kyoei Life Insurance Co., Ltd.
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The Kyoei Life Insurance Co., Ltd. |
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NEWS FROM THE STANDARD |
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IPO Weekly: Here Comes the 'Rock'
Apr 13 2001 03:04 PM PDT
PROFILE |
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"Failure" is a terrible word in business. Unfortunately, Kyoei Life Insurance has had to utter it. This midsized life insurer collapsed into bankruptcy in 2000 after amassing loads of bad loans due in part to generous payouts promised on policies written in the go-go 1980s. Before its meltdown, Kyoei Life Insurance, which specializes in life insurance for individuals, groups, and businesses, had been courting US-based Prudential as an investor. Under reorganization plans Prudential will be Kyoei Life's "sponsor" in recovery, providing the dishonored Japanese insurer with training, products, and sales support. The move will give Prudential a solid foothold in the Japanese insurance market.
COMPETITION |
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The Dai-ichi Mutual Life Insurance Company (dossier)
Nippon Life Insurance Company (dossier)
Sumitomo Life Insurance Company (dossier)
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FINANCIAL OVERVIEW |
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Fiscal Year-End: March
2000 Sales (mil.): 11,465.00
1-Yr. Sales Growth: 27.5%
Employees: 14,320
Revenue per employee: $800,628.49
KEY PEOPLE |
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Shoichi Otsuka
CEO
Masaru Orii
CFO
CONTACT INFO |
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4-4-1, Hongoku-cho Nihonbashi Chuo-ku
Tokyo 103-0021, Japan
Phone: 81-332-8511
Fax: 81-332-2910
Online: Web Site
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Hoover's Company Capsule
Copyright © 2001, Hoover's Inc. Austin, Texas.
For changes and updates, contact Hoover's directly.
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