Japanese insurers are playing with fire

Ian Brimecome, the most senior foreigner in the Japanese insurance industry, calls time on peers’ reckless foreign forays.

Japanese insurers are playing with fire

Hired hand turned inside man, Ian Brimecome has seen what happens when Japanese insurance companies start making risky investments bankruptcies.

As an MA banker in the 1990s he advised on numerous takeovers of failed Japanese insurers. Each went under as a result of investments made to offset negative spreads, the gap between income and returns on guaranteed insurance policies.

He is feeling a case of déjà vu coming on.

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