Recent Revisions to Insurance Business Law in Japan
With the purpose of strengthening the management foundation of insurers as well as to reinforce the proper protection of policy holders, the amendment of the Insurance Business Law of Japan was enacted on March 31, 2012 which aimed to make the current rules of group management imposed on insurers in Japan become more flexible...more detail
Consolidated Solvency Margin Ratio
As insurers expand its operation to diversify profit sources in light of the recent global financial crises and the sluggish Japanese financial market, it has become critical to recognize various risks related to insurers’ financial group taken as a whole... more detail
As risks surrounding insurance companies have become diversified and complex, it is more important to develop Enterprise Risk Management ("ERM") as well as to maintain statutory-required own capital. ... more detail
New rule for calculation of Solvency Margin ratio
Financial Services Agency (FSA) has revised the standard for solvency margin ratio calculation stipulated in the Insurance Business Act that imposes stricter rules with an aim to respond to the changes in the financial markets and to improve financial conditions and risk management practices of the insurers in Japan. The revised standard became effective at the end of March 2012. ...more detail
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