Transition to Standard Policy Reserves
First written in FY2018. 2 of 5 entries say "Advanced", first in FY2019-Q2. Latest entry: FY2022.
No other company in this theme has enough history to compare yet.
- FY2022AchievedAnnual report
「As a result, the transition to standard policy reserves was completed during the fiscal year under review.」
Regarding the transition from the five-year Zillmer method to standard policy reserves, which was being carried out over the five fiscal years from fiscal 2018 through fiscal 2022, the company made the planned reserve contributions ahead of schedule in fiscal 2021 and completed the transition. - FY2022-Q2RestatedAnnual report
「① Insurance contracts entered into by 31 March 2018: calculated using the five-year Zillmer method pursuant to Article 69, paragraph 4, item 4 of the Ordinance for Enforcement of the Insurance Business Act. ② Insurance contracts entered into on or after 1 April 2018: calculated using the method prescribed in Ministry of Finance Notification No. 48 of 1996.」
The company continues to apply the standard policy reserve calculation method to new contracts entered into on or after 1 April 2018. - FY2019AdvancedAnnual report
「The company began transitioning from the five-year Zillmer method to standard policy reserves for new contracts in fiscal 2018. It is building reserves over the five fiscal years from fiscal 2018 through fiscal 2022 to eliminate the difference between five-year Zillmer-method policy reserves and standard policy reserves at the beginning of fiscal 2018. The difference was ¥1,462 million at the end of fiscal 2018.」
The company began the transition to standard policy reserves for new contracts in fiscal 2018 and presented progress on its plan to eliminate the difference over the five fiscal years through fiscal 2022. - FY2019-Q2AdvancedAnnual report
「① Insurance contracts entered into by 31 March 2018: calculated using the five-year Zillmer method pursuant to Article 69, paragraph 4, item 4 of the Ordinance for Enforcement of the Insurance Business Act. ② Insurance contracts entered into on or after 1 April 2018: calculated using the method prescribed in Ministry of Finance Notification No. 48 of 1996.」
For the planned transition to standard policy reserves from fiscal 2018 through fiscal 2022, the company began applying the new calculation method to new contracts entered into on or after 1 April 2018. - FY2018First statedAnnual report
「The company planned to transition from the five-year Zillmer method to standard policy reserves over the five-year period from fiscal 2018 through fiscal 2022. As of the end of the fiscal year under review, the difference between policy reserves held and standard policy reserves was ¥1,648 million, and the company planned to build reserves over five fiscal years to eliminate the difference.」
The company presented a plan to transition from the five-year Zillmer method to standard policy reserves over the five fiscal years from fiscal 2018 through fiscal 2022 and eliminate the ¥1,648 million difference.