Economic value-based EV and ESR measurement for the introduction of J-ICS (Japan Insurance Capital Standard)
First written in FY2024. 4 of 5 entries say "Advanced", first in FY2025. Latest entry: FY2026.
No other company in this theme has enough history to compare yet.
- FY2026AdvancedAnnual report
「From the fiscal year ending March 2026, economic value-based solvency regulations based on the fair value measurement of assets and liabilities have been introduced in place of the former solvency margin regulations as the solvency standard for domestic insurance companies.」
Economic value-based solvency regulations, including J-ICS, were introduced from the fiscal year ending March 2026, and management progressed to the stage of using the ESR as a key indicator of financial soundness. - 2026-05-15AdvancedEarnings presentation
「With the introduction of economic value-based solvency regulations, calculation of consolidated tangible net assets and the consolidated solvency margin ratio (figures as of March 2026) was discontinued.」
The company indicated an operational change under which calculation of the conventional consolidated tangible net assets and consolidated solvency margin ratio would be discontinued following the introduction of economic value-based solvency regulations. - FY2026-H1AdvancedAnnual report
「In July 2025, the Financial Services Agency promulgated legislation revising the current solvency margin regulations and introducing new economic value-based solvency regulations for the fiscal year ending March 2026.」
It was disclosed that legislation concerning the introduction of the new regulations for the fiscal year ending March 2026 had been promulgated in July 2025, in connection with economic value-based capital management toward the introduction of J-ICS. - FY2025AdvancedAnnual report
「To ensure stable financial soundness, which forms the foundation of the capital cycle management described above, we have introduced the economic value-based solvency ratio (ESR), a financial soundness indicator based on the fair value measurement of assets and liabilities. This takes into account not only the solvency regulations currently applicable to domestic insurance companies, but also international developments in capital regulation and the economic value-based solvency regulations scheduled to be introduced from the fiscal year ending March 2026.」
The new economic value-based solvency regulations, including J-ICS, are scheduled to be introduced from the fiscal year ending March 2026, clarifying the relationship with capital management centered on the ESR. - FY2024First statedAnnual report
「In preparation for the introduction of the new economic value-based regulation, J-ICS, at the end of the fiscal year ending March 2026, we changed the measurement methods for 3 domestic companies—Dai-ichi Life, Dai-ichi Frontier Life and Neo First Life—from the end of March 2024 to methods based on the new standards for the introduction of J-ICS.」
In anticipation of the introduction of J-ICS at the end of the fiscal year ending March 2026, the EV and ESR measurement standards for 3 domestic companies were changed to methods based on the new standards, and the disclosure indicators for group EV and related measures were reorganized.