FSA looks to further boost insurers' solvency

The Financial Services Agency (FSA) is working on further boosting the financial strength of Japan's insurers and is mulling over the introduction of a new solvency regime based on economic value. In this exclusive interview with Mr Naruki Mori, the agency's Assistant Commissioner for International Affairs, we get a glimpse of the FSA's other efforts to ensure the industry remains in tip-top shape. By Manuelita Contreras

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Japan insurance sectors in figures

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Potential for growth in the domestic life market

Nippon Life remains confident of the good prospects of Japan's life market, and finds a major potential in the diversifying needs of the Japanese customers as long as the right strategy is implemented, says Mr Yoshinobu Tsutsui, the company's President.

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Goldmine on the other side of the fence

NKSJ Himawari Life Insurance is bucking the trend of stagnating growth in the Japanese life market by looking at the other side of the insurance fence for cross-selling: the P&C market. It also keeps a close eye on its products as customer needs continue to evolve, says Mr Toshio Matsuzaki, President. By Manuelita Contreras

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A break in the cloud of stagnation

Tokio Marine Holdings, Inc sees a silver lining in the Japanese insurance market's recent ordeal with catastrophes. The Japanese society is becoming more risk sensitive, a development that Mr Shuzo Sumi, the Group's President, says offers an opportunity that could help insurers grow steadily and stave off stagnation. By Manuelita Contreras

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Land of the Rising Sun emerges from the debris

It has been almost two years since Japan reeled from the devastating triple disaster in March 2011. Mr Ken Motoda of Allianz Global Corporate & Specialty (AGCS) Japan, discusses how the industry has emerged resiliently from the tragedy and how the 2011 events have evidently changed the insurance landscape and risk appetite.

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GIAJ combats insurance fraud

The General Insurance Association of Japan (GIAJ) stresses that the industry must take a collective stand and adopt a zero-tolerance policy against insurance fraud. Mr Hiromi Asano from the Association outlines the top priority issues of the GIAJ and the insurance fraud countermeasures it recommends.

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Deregulation to encourage overseas expansion

The domestic insurance market is shrinking due to Japan's low birth rate and ageing population and Japanese insurance companies are struggling to sell new insurance policies.

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