The Japan Cooperative Insurance Association Incorporated (JCIA) has recently published the English version of its annual Cooperative Insurance in Japan Fact Book.
JCIA is a general incorporated association in Japan, which was established for the purpose of promoting coordination among member societies and contributing to the development of cooperatives and cooperative insurers. The main activities of JCIA are research and studies relating to cooperatives/cooperative insurers, human resources development and training for member societies and public relations. JCIA also publishes a monthly journal “Cooperative and Commercial Insurance”. They provide consultations to help with enquiries and complaints from policyholders and/or their related persons. JCIA joined the International Cooperative and Mutual Insurance Federation (ICMIF) in 1994 and is an associate member of the Federation.
The Cooperative Insurance in Japan Fact Book is compiled each year in order to share the business results of the major cooperative insurers in Japan for the previous fiscal year (in this case, 2018) in addition to the various activities of JCIA and its member societies.
Insurance products offered by the JCIA member cooperatives include 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 the fiscal year for 2018. The business results achieved were as follows: 76.7 million members (77.4 million in 2017); 137 million insurance policies (138 million in 2017); total amount insured was JPY 859 trillion (JPY 872 trillion in 2017); the total premium income was JPY 7,485 billion (JPY 6,719 billion in 2017); total claims paid were JPY 5,573 billion (JPY 4,232 billion in 2017); and the total assets were JPY 66,568 billion (JPY 66,630 billion in 2017).
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 which are also members of JCIA, these are: Zenkyoren, Kyosuiren, Kokumin Kyosai co-op, Saikyosairen, CO-OP Kyosairen (JCIF), Daigaku Seikyo Kyosairen (UCMAF), Nikkaren, and The Kyoei Fire & Marine Insurance Company.
Please download the Cooperative Insurance in Japan Fact Book 2019 here.