The gross direct premium of Compulsory Automobile Liability Insurance (CALI) in Japan is projected to exhibit a slight decline from 2024 to 2028. In 2023, the actual value stood at 979.48 billion Japanese Yen.
Year-on-year percentage variations indicate a consistent, albeit minor, decrease each year:
- 2025: -0.15% from 2024
- 2026: -0.15% from 2025
- 2027: -0.14% from 2026
- 2028: -0.14% from 2027
Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is -0.15%, highlighting a stable yet negative trend.
Future trends to watch for:
- Impact of technological advancements in the automobile industry, including autonomous driving and electric vehicles, which may influence insurance requirements.
- Regulatory changes in compulsory automobile liability insurance that could alter premium structures.
- Shifts in Japan's demographic profile and their potential impact on vehicle ownership and insurance demand.
