Failures of Other Life Insurance Companies and Policyholders Protection System Assessments
First written in FY2017. 4 of 8 entries say "Worsened", first in FY2020-Q2. Latest entry: FY2023-Q2.
Lifenet Insurance Company moved to the "Worse" side of this theme in 2019.
1 other company's latest entry also says "Mitigated".
- FY2023-Q2MitigatedAnnual report
「Under Article 259 of the Insurance Business Act, the Company's estimated future contributions to the Life Insurance Policyholders Protection Corporation as of the end of the interim accounting period were nil, compared with ¥171 million at the end of the previous fiscal year.」
The estimated future contributions to the Life Insurance Policyholders Protection Corporation decreased from ¥171 million at the end of the previous fiscal year to "nil" as of the end of the interim accounting period. - FY2022WorsenedAnnual report
「The Company's estimated future contributions to the Life Insurance Policyholders Protection Corporation as of the end of the fiscal year were ¥171 million, compared with ¥140 million in the previous fiscal year.」
The estimated future contributions to the Life Insurance Policyholders Protection Corporation increased from ¥140 million to ¥171 million. - FY2022-Q2WorsenedAnnual report
「The Company's estimated future contributions to the Life Insurance Policyholders Protection Corporation as of the end of the interim accounting period were ¥171 million, compared with ¥140 million at the end of the previous fiscal year.」
The estimated future contributions to the Life Insurance Policyholders Protection Corporation increased from ¥140 million at the end of the previous fiscal year to ¥171 million. - FY2021-Q2WorsenedAnnual report
「Under Article 259 of the Insurance Business Act, the Company's estimated future contributions to the Life Insurance Policyholders Protection Corporation as of the end of the interim accounting period were ¥140 million, compared with ¥131 million at the end of the previous fiscal year. These contributions are accounted for as operating expenses in the fiscal year in which they are paid.」
The estimated future contributions to the Life Insurance Policyholders Protection Corporation increased from ¥131 million at the end of the previous fiscal year to ¥140 million. - FY2020-Q2WorsenedAnnual report
「Under Article 259 of the Insurance Business Act, the Company's estimated future contributions to the Life Insurance Policyholders Protection Corporation as of the end of the interim accounting period were ¥131 million, compared with ¥115 million at the end of the previous fiscal year.」
The estimated future contributions to the Life Insurance Policyholders Protection Corporation increased from ¥115 million at the end of the previous fiscal year to ¥131 million. - FY2019-Q2Increase in estimated contributions to the Life Insurance Policyholders Protection CorporationAnnual report
「The Company's estimated future contributions to the Life Insurance Policyholders Protection Corporation as of the end of the interim accounting period were ¥115 million, compared with ¥110 million at the end of the previous fiscal year.」
The estimated future contributions to the Life Insurance Policyholders Protection Corporation in connection with the failure of other life insurers and similar events increased from ¥110 million at the end of the previous fiscal year to ¥115 million. - FY2018RestatedAnnual report
「If another domestic life insurer fails in the future, or if the legal requirements concerning payments of contributions to the protection corporation change, the Company may be required to make additional contributions to the protection corporation, which could adversely affect its financial condition and performance.」
The risks of additional contributions and declining confidence in the industry resulting from the failure of another insurer or changes to the protection corporation system continue to be disclosed. - FY2017First statedAnnual report
「If another domestic life insurer fails in the future, or if the legal requirements concerning payments of contributions to the protection corporation change, the Company may be required to make additional contributions to the protection corporation, which could adversely affect its financial condition and performance.」
The Company identifies as risks the additional burden and declining confidence in the industry resulting from the failure of another insurer or changes to the Life Insurance Policyholders Protection Corporation system.