Risk of deteriorating liquidity due to mass surrenders and large-scale disasters
First written in FY2019. 3 of 4 entries say "Restated". Latest entry: FY2024.
3 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「A deterioration in the funding position resulting from increased payments of surrender values due to mass or large-scale policy cancellations, or increased claims payments due to major natural disasters, may require funding at significantly higher costs than usual, including being forced to sell assets at substantially depressed prices.」
大量解約や大規模自然災害による流動性悪化、資産の安値売却及び高コスト調達のリスクを再掲している。 - FY2023RestatedAnnual report
「大量あるいは大口解約に伴う解約返戻金支出の増加、大規模な自然災害の発生による支払保険金の増加等により資金ポジションが悪化した結果」
大量解約や大規模自然災害による流動性悪化、資産の安値売却及び高コスト調達のリスクを再掲している。 - FY2020RestatedAnnual report
「大量あるいは大口解約に伴う解約返戻金支出の増加、大規模な自然災害の発生による支払保険金の増加等により資金ポジションが悪化した結果」
大量解約や大規模自然災害による流動性悪化、資産の安値売却・高コスト調達の可能性を再掲している。 - FY2019First statedAnnual report
「A deterioration in the funding position resulting from increased payments of surrender values due to mass or large-scale policy cancellations, or increased claims payments due to major natural disasters, may require funding at significantly higher costs than usual, including being forced to sell assets at substantially depressed prices.」
The company describes the risk that higher surrender-value payments or claims payments following major natural disasters could weaken its funding position, forcing it to sell assets at low prices or obtain funding at high cost.