Sea change ahead for Japan

Article Abstract:

Japan's Insurance Business Law has finally reached a breakthrough. Nonlife insurance companies are allowed to establish life insurance company subsidiaries and vice versa. The new law also focuses on financial management, with requirements for solvency margins, cash flow testing and greater responsibility on the actuary. Assets must be separated with a goal of financial transparency of results by line of business. The new policy gives insurance companies opportunity to gather a considerable market share.

Financial Services, Finance and Insurance, Management, Japan, Insurance industry, Insurance

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Compromise gives way to war as Leach pulls bank-insurance

Article Abstract:

The banking industry's rejection of the insurance provisions included in House Banking Committee Chmn James Leach ended the brief truce between the banking and insurance industry political camps. Insurers had shifted their position on the banks-in-insurance issue by deciding to support legislation that freed up their market, on the condition that bankers would be bound by insurance licensing requirements, among other insurance provisions in the law.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Insurance Regulation, Bank Services Regulation, Banking industry, Laws, regulations and rules, Political aspects, Banking law, Insurance law, Leach, Jim

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