Which Technology Giant Actually Makes Most Of Its Money From Insurance Sales?
Televisions, Blu-ray players, MP3 players, video game systems, computers, you name a technology and technology giant Sony has probably dabbled in it. Given the sheer number products Sony has brought to market, its shocking to find out that the Sony electronics division has run in the red for the last decade to the tune of 8.5 billion dollars.
Even more surprising to non-Japanese readers is that Sony’s most profitable division, responsible for 63% of their profits, is insurance (finance division). That’s right, Sony pulls in the lion’s share of its money by underwriting hundreds of thousands of life, medical, and automotive insurance policies. These policies are issued primarily to the Japanese market and foreigners are usually quite surprised to find out that the company behind their favorite piece of electronic gear is also a great place to get some medical insurance while studying abroad.