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Japan tag returned 228 results

  • Japan: Insurer suspends promotions following fraud scandal

    Following recent insurance fraud cases, promotions for all Japan Post Insurance products have been suspended until the end of August according to a report from Jiji Press citing a statement from company officials.

    Asia | 15 Jul 2019
  • Catastrophe modelling firm releases event footprint for Kyushu flooding

    With wide-scale flooding and landslides battering the island of Kyushu in southern Japan and causing extensive damage over the past week, JBA Risk Management has produced a flood event footprint. This includes estimates for flood extents and depths for river flooding as well as surface water (pluvial) flooding and covers affected areas within Kagishima, Miyazki, Kumamoto and Ishikawa prefectures.

    Asia | 12 Jul 2019
  • Japan: Insurer's double payment scandal uncovered

    Japan Post Insurance has been found charging customers the same insurance premiums twice for their new and old contracts for six months or longer, revealed a report from local news agency Jiji Press citing sources familiar with the matter. Over 22,000 cases of such double payments have been discovered and the insurer has launched an investigation.

    Asia | 10 Jul 2019
  • Japan: Relevance of pension study questioned

    Wealth disparity and the intergenerational savings gap mean that a model used in a study by the Financial Services Agency (FSA), to estimate how much savings are needed by an average couple to make up for expected shortfalls in the public pension system, does not tell much about the different realities most people face.

    Asia | 27 Jun 2019
  • Japanese conglomerate's insurance and banking units admit to misconduct

    Japan's Financial Services Agency has launched an investigation into Japan Post's insurance and banking units repeatedly selling unsuitable insurance and investment trusts to elderly customers, reported the Japan Times quoting a confession from Japan Post. This misconduct case has taken place during a period when the profitability of these two units continues to be negatively affected by the Bank of Japan's negative interest rates policy.

    Asia | 26 Jun 2019
  • Japanese insurer plans to retrench 15% of workforce

    As Sompo Japan Nipponkoa Insurance looks to capitalise on information technology to carry out operations, it has planned to cut the number of its employees according to a report from local news agency Jiji Press. Approximately 4,000, or 15% of its workforce, will be retrenched and no early retirement programme will be offered according to sources.

    Asia | 26 Jun 2019
  • Japan: Non-life insurance giant eyes acquisition opportunities in Asia

    Tokio Marine Holdings is seeking acquisition opportunities in Asian emerging markets and elsewhere, as it seeks to double profits from those regions, according to the new chief of Japan's largest P&C insurer.

    Asia | 26 Jun 2019
  • Real-time predictions of disaster damage in Japan look to mitigate risk

    Aioi Nissay Dowa Insurance, Yokohama National University and Aon Benfield Japan have launched a free website that provides real-time predictions for the number of buildings at risk during natural disasters, reported Japan Times.

    Asia | 20 Jun 2019
  • Japan: Low yields of local bonds push life insurers to buy more foreign bonds

    Persistently low and falling bond yields in Japan are likely to encourage life insurers to accumulate more foreign bonds, says Fitch Ratings in a new report.

    Asia | 19 Jun 2019
  • In a first, G 20 takes note of ageing as a global risk

    The world's top policymakers have for the first time taken note of economic issues relating to rapidly ageing populations and shrinking birth-rates which lead to ballooning healthcare costs, labour shortages and financial services for the elderly.

    Asia Risk | 12 Jun 2019

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