The net premium of compulsory automobile liability insurance in Japan is forecasted to experience a steady increase from 2024 to 2028. In 2023, the net premium stood at 1.014 trillion Japanese Yen. From 2024 to 2028, the year-on-year variations are expected to be marginal, ranging between 0.068% and 0.077% annually. The last two years (2023-2024 and 2024-2025) show variations of 0.068% and 0.069%, respectively. The compounded annual growth rate (CAGR) over the last five years is anticipated to be around 0.075%.
Future trends to watch for include the impact of increased adoption of electric vehicles, advancements in autonomous driving technology, and potential regulatory changes that could influence insurance costs and structure. Monitoring these factors will be crucial for anticipating shifts in the compulsory automobile liability insurance market in Japan.
