Risks from International Insurance Regulations, Including IAIG and ICS
First written in FY2019. 5 of 8 entries say "Advanced", first in FY2024. Latest entry: FY2026.
1 other company's latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「In addition, these regulations were revised in March 2026, and the amendments could affect the business development and financial results of the Group.」
The risks associated with the solvency margin regulations and ICS progressed from the consideration and proposed-amendment stages to implementation of domestic regulatory amendments in March 2026. - FY2026-H1AdvancedAnnual report
「In addition, in July 2025, the Financial Services Agency promulgated laws and regulations revising the current solvency margin regulations and converting them to new economic-value-based solvency regulations in the fiscal year ending March 2026. The regulatory amendments published by the Financial Services Agency differ significantly from the current regulations, and the changes and related constraints arising from these amendments could adversely affect the business development and financial results of the Group.」
International and domestic capital regulatory risks progressed from the proposed-amendment stage to specific implementation stages, including the promulgation of laws and regulations in July 2025 and the scheduled introduction of new regulations in the fiscal year ending March 2026. - FY2025AdvancedAnnual report
「The Financial Services Agency is considering revising the current domestic solvency margin regulations and introducing new regulations in the fiscal year ending March 2026. The proposed regulatory amendments published by the Financial Services Agency on 31 October 2024 differ significantly from the current regulations, and the changes and related constraints arising from these amendments could adversely affect the business development and financial results of the Group.」
The regulatory risks associated with IAIG, ICS and other frameworks progressed to specific stages involving the introduction of new regulations in the fiscal year ending March 2026 and the proposed amendments published on 31 October 2024. - FY2025-H1AdvancedAnnual report
「The proposed regulatory amendments published by the Financial Services Agency on 31 October 2024 differ significantly from the current regulations, and the changes and related constraints arising from these amendments could adversely affect the business development and financial results of the Group.」
The international regulatory risks associated with IAIG, ICS and other frameworks progressed to specific proposed regulatory amendments published by the Financial Services Agency on 31 October 2024, indicating the possibility of changes and constraints that differ significantly from the current regulations. - FY2024AdvancedAnnual report
「The Financial Services Agency is considering revising the current domestic solvency margin regulations and introducing new regulations in the fiscal year ending March 2026.」
The international regulatory risks associated with IAIG, ICS and other frameworks progressed with a specific timeline involving consideration of the introduction of new regulations in the fiscal year ending March 2026. - FY2023-Q2RestatedAnnual report
「The Company meets the quantitative criteria for an IAIG established by the IAIS and has been designated as an IAIG by the Financial Services Agency. In particular, the ICS, a new international capital standard based on economic value and forming part of the ComFrame, is expected to differ significantly from the current regulations. If the Financial Services Agency introduces regulations compliant with ICS, or if other standards are revised in connection with ICS, the resulting constraints could adversely affect the business development and financial results of the Group.」
The Company’s status as a designated IAIG and the risk of constraints arising from the introduction of ICS were reaffirmed. The disclosure also stated that whether the designation as a G-SII should continue would be reconsidered in November 2022. - FY2021-Q3IAIG designation confirmedAnnual report
「The Company meets the quantitative criteria for an IAIG established by the IAIS and has been designated as an IAIG by the Financial Services Agency.」
The disclosure previously referred to the possibility of IAIG designation, but now states that the Company has been designated as an IAIG by the Financial Services Agency. The risk of constraints arising from new capital regulations such as ICS remains. - FY2019First statedAnnual report
「The Company meets the quantitative criteria for an IAIG established by the IAIS and may be designated as an IAIG. In particular, the ICS, a new capital regulation based on economic value and forming part of the ComFrame, is expected to differ significantly from the current regulations. If the Financial Services Agency introduces these regulations, or if other standards are revised in connection with their introduction, the resulting constraints could adversely affect the business development and financial results of the Group.」
The possibility of IAIG designation and capital and business constraints arising from the introduction of ComFrame and ICS, as well as the designation of G-SIIs, were disclosed as new regulatory risks.