The Japan Cooperative Insurance Association Incorporated (JCIA) has recently published the English version of its annual Cooperative Insurance in Japan Fact Book. JCIA has been an observer member of the International Cooperative and Mutual Insurance Federation (ICMIF) since 1994. The annual Fact Book provides readers with an introduction to cooperative insurance in Japan.
The Cooperative Insurance in Japan Fact Book 2018 was compiled in order to share the business results of the major cooperative insurers in Japan for the fiscal year 2017 in addition to the various activities of JCIA and its member societies.
Insurance products offered by the JCIA member cooperatives include both life and non-life products to help their member policyholders ensure they are covered for a variety of risks which they may face in their lives. Among them, the five most typical products are fire; life; personal accident; automobile and annuity.
The Fact Book provides information on the financial performance of the main Japanese cooperative insurers in fiscal year for 2017. The business results achieved were as follows: 77 million members; 138 million insurance policies; total amount insured was JPY 872 trillion yen; the total premium income was JPY 6,719 billion; total claims paid were JPY 4,232 billion yen; and the total assets were JPY 66,630 billion.
These cooperative insurers in Japan also play a significant role in supplementing the Japanese social security system through the provision of cover for members and also in their activities in local communities throughout Japan. Many of these activities are prevention activities but some are in response to catastrophes such as earthquakes.
At present, JCIA consists of 13 full members, one first-class supporting member and four second-class supporting members. The full list of member names and details about each organization can be found in the Fact Book. There are eight ICMIF full members of ICMIF which are also members of JCIA, these are: Zenkyoren, Kyosuiren, Zenrosai, Nihon Saikyosairen, CO-OP Kyosairen (JCIF), Daigaku Seikyo Kyosairen (UCMAF), Nikkaren, and Kyoei Fire.
Please download the Cooperative Insurance in Japan Fact Book 2018 here.
