In 1962, the Dai-ichi Mutual Life Insurance Company, which was demutualized to the Dai-ichi Life Insurance Company, Limited in 2010, contributed 50 million yen to the Tsuneta Yano Memorial Society to initiate the supporting programs for the development of the life insurance industry in the Asian region.
At the time of establishment of this foundation, the Japanese life insurance industry had already grown to the second largest in the world in terms of life insurance in-force volume. One of the factors that contributed to this success was tangible and intangible technical support, particularly from the United States after World War II.
Looking back on the history of the Dai-ichi Life, Tsuneta Yano, its founder, learned about the mutual principle at the Gothaer Life Insurance Company in Germany, at a time when the Japanese insurance business was still in the developing stage. After he returned from Germany, he established the Dai-ichi Life in 1902, as the first mutual life insurance company in Japan.
In celebrating its 60th anniversary in 1962, the Dai-ichi Life turned its eyes to Asian countries/regions where the life insurance industry was still in a developing stage. The Dai-ichi Life then felt that it was Japan's responsibility to contribute to the development of Asia's insurance industry and in doing so it could reciprocate some of the generosity received from Europe and the United States.
Thereafter, in March 1970, the Dai-ichi Life established FALIA (The Foundation for the Advancement of Life Insurance in Asia) to further promote this mission. In April 1994, the formal name was changed to The Foundation for the Advancement of Life & Insurance Around the world in order to expand our scope of activities.
In April 2012, FALIA was officially certified as a public interest incorporated foundation.