Claims-Paying Capacity and Solvency Margin
First written in FY2017-Q1. 11 of 35 entries say "Worsened", first in FY2020-Q2. Latest entry: FY2026.
Anicom Holdings moved to the "Worse" side of this theme in 2021, 2 years before the typical company in this theme (2023).
The whole theme swung hardest in 2026: 4 of 8 companies on the "Worse" side.
1 other company's latest entry also says "Reframed".
- FY2026ReframedAnnual report
「The solvency margin ratio at the end of the fiscal year ending March 2026 is expected to be disclosed in the disclosure magazine scheduled for publication at the end of July 2026. The solvency margin ratio of Anicom Holdings, Inc. at the end of March 2026 is expected to exceed 100%, the threshold for triggering early corrective action.」
The year-end ratio under the new capital regulations is scheduled to be disclosed at a later date, and the explanation changed to state that 100% is the threshold for triggering early corrective action. The actual ratio has not been disclosed in this report. - FY2026-H1MitigatedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 345.2 351.5」
The standalone solvency margin ratio rose from 345.2% at the end of the previous fiscal year to 351.5%, remaining above the 200% solvency standard. - FY2025MitigatedAnnual report
「Anicom Insurance's solvency margin ratio at the end of the fiscal year ending March 2025 was 345.2%, above the 200% solvency standard. The company therefore considers itself to have sufficient ability to pay insurance claims and other benefits.」
The standalone solvency margin ratio rose from 333.7% at the end of the previous fiscal year to 345.2%, exceeding the 200% solvency standard. - FY2025-H1MitigatedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 333.7 339.9」
The standalone solvency margin ratio rose from 333.7% at the end of the previous consolidated fiscal year to 339.9%, remaining above the 200% solvency standard. - FY2024-Q3MitigatedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 373.1% 323.0%」
The standalone solvency margin ratio declined from 373.1% at the end of the previous fiscal year to 323.0%, but rose from 311.9% at the end of the previous quarter and remained above the 200% solvency standard. - FY2024-Q2WorsenedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 373.1% 311.9%」
The standalone solvency margin ratio declined from 373.1% at the end of the previous fiscal year to 311.9%. However, it remained above 200%, the standard for sufficient ability to pay insurance claims and other benefits, and within the target range of 300%–320% for fiscal 2024. - FY2024-Q1Return of excess capital arising from the calculation errorAnnual report
「An error in the calculation of the solvency margin ratio of Anicom Insurance Co., Ltd., the core insurance company of the Group, resulted in approximately ¥4 billion being calculated as exceeding the appropriate capital level. In response, the portion exceeding the appropriate capital level will promptly be paid as a dividend to the parent company, to be used for share repurchases.」
Following the calculation of approximately ¥4 billion in excess capital due to an error in the solvency margin ratio, the company announced a policy of allocating the excess to dividends to the parent company and share repurchases. The ratio was 378.5% at the end of the first quarter. - FY2023SoftenedAnnual report
「The standalone solvency margin ratio came in at 373.1%, exceeding the target. This was because an error was found in the calculation of Anicom Insurance's solvency margin ratio. Going forward, the company plans to reassess its optimal capital allocation structure toward the target range of 300%–320% for fiscal 2024.」
The target was changed from the previous level of approximately 380% to 300%–320% for fiscal 2024 following the discovery of the calculation error. The actual ratio was 373.1%, above the 200% solvency standard. - FY2023-Q3WorsenedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 334.6% 302.0%」
The standalone solvency margin ratio declined from 334.6% at the end of the previous fiscal year to 302.0%. Although it remains above the 200% solvency standard, the gap from the target of approximately 380% remains. - FY2023-Q2WorsenedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 334.6% 304.6%」
The standalone solvency margin ratio declined from 334.6% at the end of the previous fiscal year to 304.6%. Although it remained above the 200% financial soundness benchmark, the gap relative to the target of approximately 380% widened. - FY2023-Q1WorsenedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 334.6% 319.4%」
The standalone solvency margin ratio declined from 334.6% at the end of the previous fiscal year to 319.4%. It remained above the 200% financial soundness benchmark. - FY2022-Q3WorsenedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 355.5% 345.8%」
The standalone solvency margin ratio declined from 355.5% at the end of the previous fiscal year to 345.8%. Although it remained above the 200% financial soundness benchmark, it also declined from 350.0% at the end of the previous quarter. - FY2022-Q2WorsenedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 355.5% 350.0%」
The standalone solvency margin ratio declined from 355.5% at the end of the previous fiscal year to 350.0%. However, it remained above 200%, the benchmark for adequate capacity to pay insurance claims and other obligations. Increases in general insurance risk and asset management risk were also indicated. - FY2022-Q1WorsenedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 355.5% 354.2%」
The standalone solvency margin ratio declined from 355.5% at the end of the previous fiscal year to 354.2%. However, it remained above 200%, the benchmark for adequate capacity to pay insurance claims and other obligations. - FY2021WorsenedAnnual report
「Anicom Insurance's solvency margin ratio at the end of the consolidated fiscal year under review was 355.5%. The ratio increased due in part to higher general insurance risk resulting from increased unearned premiums following aggressive acquisition of new policies in response to growing demand for pet ownership during the COVID-19 pandemic. Although the ratio declined slightly from the end of the previous consolidated fiscal year, we intend to work toward achieving our target by reducing claims and the loss ratio and continuing to strengthen the pet insurance business and other operations.」
The standalone solvency margin ratio was 355.5%, down from 357.0% at the end of the previous fiscal year. A gap remained relative to the target of approximately 380%, against a backdrop of increased general insurance risk. - FY2021-Q3WorsenedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 357.0% 353.9%」
The standalone solvency margin ratio declined from 357.0% at the end of the previous fiscal year to 353.9%. However, it remained above 200%, the benchmark for adequate capacity to pay insurance claims and other obligations. - FY2021-Q2MitigatedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 357.0% 357.6%」
The standalone solvency margin ratio rose from 357.0% at the end of the previous fiscal year to 357.6%, exceeding the 200% financial soundness benchmark. - FY2021-Q1MitigatedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 357.0% 364.9%」
The standalone solvency margin ratio rose from 357.0% at the end of the previous fiscal year to 364.9%, exceeding the 200% financial soundness benchmark. - FY2020-Q3WorsenedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 379.8% 371.2%」
The standalone solvency margin ratio declined from 379.8% at the end of the previous fiscal year to 371.2%. However, it remained above 200%, the benchmark for adequate capacity to pay insurance claims and other obligations. - FY2020-Q2WorsenedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 379.8% 372.7%」
The standalone solvency margin ratio declined from 379.8% at the end of March 2019 to 372.7%. However, it remained above 200%, the benchmark for adequate capacity to pay insurance claims and other obligations. - FY2020-Q1RestatedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 379.8% 375.6%」
The standalone solvency margin ratio declined from 379.8% at the end of March 2019 to 375.6%, but remained above the 200% financial soundness benchmark and maintained the previous level of financial security. - FY2019RaisedAnnual report
「Under “financial security,” we aim for a solvency margin ratio of approximately 380% at Anicom Insurance, Inc. Anicom Insurance, Inc.'s solvency margin ratio at the end of the fiscal year ended March 2019 was 379.8%, above the 200% benchmark for financial soundness. Accordingly, we recognize that the company had sufficient capacity to pay insurance claims and other obligations.」
The medium-term target for the solvency margin ratio was set at approximately 380%, and the actual ratio at the end of the fiscal year ended March 2019 was 379.8%. - FY2019-Q3MitigatedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 305.6% 370.3%」
The standalone solvency margin ratio rose from 305.6% at the end of the previous fiscal year to 370.3%, remaining above the 200% financial soundness benchmark. - FY2019-Q2MitigatedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 305.6% 310.6%」
The standalone solvency margin ratio rose from 305.6% at the end of the previous fiscal year to 310.6%, remaining above the 200% financial soundness benchmark. - FY2019-Q1MitigatedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 305.6% 309.4%」
The standalone solvency margin ratio rose to 309.4% from 305.6% at the end of the previous fiscal year. It also remained above the 200% financial soundness benchmark. - FY2018RaisedAnnual report
「We will target sustained growth in consolidated ordinary revenues of 10% or more year on year, the maintenance and improvement of a double-digit ROE over the medium term, and a standalone solvency margin ratio of 360% or more at Anicom Insurance, Inc.」
A standalone solvency margin ratio target of 360% or more was explicitly stated. The actual ratio was 305.6%, above the 200% financial soundness benchmark. - FY2018-Q3MitigatedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 295.6% 296.8%」
The standalone solvency margin ratio rose to 296.8% from 295.6% at the end of the previous fiscal year. It also remained above the benchmark of 200% or more. - FY2018-Q2RestatedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 295.6% 292.6%」
The standalone solvency margin ratio declined from 295.6% at the end of the previous fiscal year to 292.6%, but remained above the benchmark of 200% or more. - FY2018-Q1RestatedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 295.6% 295.2%」
The standalone solvency margin ratio was 295.2%, a slight decline from 295.6% at the end of the previous fiscal year, but remained above the benchmark of 200% or more. - FY2017AdvancedAnnual report
「Anicom Insurance, Inc.'s solvency margin ratio at the end of the fiscal year ended March 2018 was 295.6%, above the 200% benchmark for financial soundness. Accordingly, the company recognized that it had sufficient capacity to pay insurance claims and other obligations.」
The standalone solvency margin ratio rose from 282.6% at the end of the previous fiscal year to 295.6%. The company also stated a policy of targeting a standalone ratio of 300% or more as a management indicator. - FY2017-Q3RestatedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 282.6% 280.5%」
The standalone solvency margin ratio was 280.5% at the end of the third quarter under review. Although it declined from 282.6% at the end of the previous fiscal year, it remained above the company's stated benchmark of 200% or more. - FY2017-Q2RestatedAnnual report
「(C) Standalone solvency margin ratio (%) [(A)/{(B)×1/2}]×100 282.6% 279.7%」
The standalone solvency margin ratio was 279.7% at the end of the second quarter under review. Although it declined from 282.6% at the end of the previous fiscal year, it remained above the company's stated benchmark of 200% or more. - FY2017-Q1First statedAnnual report
「The standalone solvency margin ratio, calculated under the Insurance Business Act and other applicable laws and regulations, is an indicator of the ratio of the solvency margin, namely the capital, reserves and other resources held by a non-life insurer to meet claims and other obligations (the total solvency margin, (A) in the table above), to the total amount of risks exceeding ordinary expectations ((B) in the table above).」
The solvency margin ratio was 281.6%, disclosing the insurer's capacity to meet claims in relation to risks exceeding ordinary expectations, including underwriting, asset management and catastrophic risks.