Press Conference by Taro Aso, Deputy Prime Minister, Minister of Finance, and Minister of State for Financial Services

(Excerpt)

(Thursday, August 22, 2019,  10:43 am to 10:46 am)

[Questions and answers:]

Q.

My question is in regard to the Japan Post scandal. It has come to light that there were up to 104,000 cases of customers being double charged or temporarily uninsured regarding Aflac Life Insurance policies sold by the Japan Post between May 2018 and May 2019. There are many customers concerned over this. What is your own opinion, and also, how will the FSA respond?

A.

First, I am aware of the report to which you are referring. However, the prevailing view is that it is necessary to establish a proper solicitation stance so that insurance companies and insurance solicitors do not damage the policyholders’ benefits or customers’ trust. In any case, I believe that investigation must be taken into account. We need to know to what degree that is being carried out at Aflac policies as well as other insurance companies, and I think they are in a situation where they do not grasp numbers. Upon hearing the result of the investigation, we will respond in an appropriate manner.