Yamato Life

Yamato Seimei Hoken K. K. (Japanese大 和 生命 保 険 株式会社, Yamato Seimei Hoken Kabushiki - gaisha, in short: Yamato Seimei; German " Yamato Life Insurance corporation"; engl Yamato Life Insurance Company.) was an insolvent Japanese life insurance company.

History

The company was founded in 1911 as Nippon Chohei Hoken KK (日本 徴 兵 保 険 株式会社) was founded. This 1945 changed its name to Yamato Seimei, two years later it was transformed into a sogo - gaisha ( " mutual insurance ").

2001 Seimei Hoken K. K. Azami was (あざみ 生命 保険 株式会社) in order to lead the company back into a Kabushiki - gaisha ( Aktiengesellschaft). 2002, this step was taken by the merger of Azami and Yamato.

In the wake of the financial crisis that began in 2007, the value of the securities held by Yamato took off rapidly. On 10 October 2008, the company had to file for bankruptcy in the Tokyo District Court protection: the liabilities of 269.5 billion yen ( approximately 1.9 billion euros ) exceeded the assets of the company had 11.5 billion yen.

The payments to the insured remained after the start of insolvency proceedings to 90 percent by the " protection organization for contractors of life insurance " (生命 保 険 契约 者 保护 机构, seimei hoken Keiyakusha hogo Kiko, Eng. Life Insurance Policyholders Protection Corporation of Japan, PPCJ ) warrants a protection Fund, which is supported by the Japanese Lebensversichererungsgesellschaften; However, the termination of contracts during the procedure was postponed.

After one featured in the March 2009 restructuring plan Yamato was integrated into the American insurance group Prudential Financial commenced full commercial operations in June 2009 as Seimei Hoken Prudential Financial Japan KK (English Japan Prudential Financial Life Insurance Co., Ltd.). again.

Yamato Seimei was not listed. The largest individual shareholders were the K. K. eBank (イーバンク 銀行) with 6.4 per cent of the shares and the Kumiai Yamato Family Club (組合 大和 ファミリー 倶楽部).