ICMIF member JA Kyosai, the Japanese National Mutual Insurance Federation of Agricultural Cooperatives, also known as Zenkyoren, has announced the establishment of a new reinsurance subsidiary, Zenkyoren Re Limited, in Guernsey, strengthening its approach to risk diversification and international collaboration across the cooperative insurance sector.

The new entity began operations on 1 April 2026 and is wholly owned by JA Kyosai. It has been established to support the transfer and diversification of risk both within the organisation and across the wider cooperative and mutual insurance community.

JA Kyosai highlighted that natural catastrophe risks have become increasingly complex in recent years, driven by climate change and globalisation. Like many cooperative insurers, the organisation faces a structural concentration of risk, particularly exposure to earthquakes in Japan.

To address this, Zenkyoren Re Limited will begin underwriting overseas natural catastrophe risks, including from fellow members of International Cooperative and Mutual Insurance Federation (ICMIF), starting on a small scale and expanding gradually over time. The initiative aims to support more balanced risk portfolios while contributing to the long-term stability of the cooperative/mutual insurance sector.

JA Kyosai says the creation of the subsidiary reflects its alignment with last year’s International Year of Cooperatives (2025), highlighting its commitment to collaboration within the global cooperative/mutual network. By working closely with ICMIF members and other cooperative/mutual insurers, Zenkyoren Re Limited is expected to play a role in strengthening mutual support mechanisms across markets.

Liz Green, ICMIF Chief Executive, said: “We are delighted to see JA Kyosai strengthening its commitment to the global cooperative and mutual community in this way. The establishment of Zenkyoren Re will provide valuable additional capacity for ICMIF members and reinforces the power of cooperation in managing shared risks.”

Based in Guernsey, the company will focus on reinsurance underwriting and will also invest in instruments such as catastrophe bonds to support stable asset management.

Through this initiative, JA Kyosai says it aims not only to enhance its own resilience, but also to contribute to a more interconnected and diversified global cooperative insurance system, supporting members in managing increasingly complex risks.