September 15, 2016
Financial Services Agency
Overview of Results of ERM*1 Assessment based on ORSA*2 Reports and ERM Hearings
Given the diversification and complex nature of risks surrounding insurance companies, it has become an important challenge for them not only to comply with the regulations, but also to develop and enhance the ERM system, in which all material risks are controlled in a manner consistent with their business strategies, balancing risks and returns appropriately.
In view of the circumstances above, the FSA initiated a reporting requirement in 2015, under which individual insurance companies are required to prepare and submit an ORSA Report. Based on the submitted ORSA Reports, etc., the FSA has conducted an ERM assessment and has summarized the results of the assessment as follows.
*1:ERM - Enterprise Risk Management
*2:ORSA - Own Risk and Solvency Assessment
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Financial Services Agency
Tel +81-(0)3-3506-6000 (main)
Insurance Business Division, Supervisory Bureau
(ext. 3851, 3771)
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