DOCSLIB.ORG

Annual Report 2020 1 Corporate Profile

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2020 1 Corporate Profile Annual Report Meiji Yasuda Life Insurance Company Year ended March 31, 2020 1-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo 100-0005, Japan Phone:+81-3-3283-8293 Fax:+81-3-3215-8123 Contents Value Created by Meiji Yasuda Life 2 Relationship with Stakeholders 85 Corporate Profile ..................................................................... 3 Relationship with Customers Meiji Yasuda Philosophy .......................................................... 4 Initiatives to Ensure the Swift, Accurate Payment Thoughts behind Our Corporate Emblem and Logo................. 6 of Insurance Claims and Benefits ....................................... 86 Meiji Yasuda Life at a Glance ................................................... 6 Initiatives to Promote Customer-Oriented Financial and ESG Highlights ................................................... 8 Business Operations .......................................................... 88 History of Our Challenges ........................................................ 10 Initiatives to Enhance Customer Satisfaction Value Creation Process at Meiji Yasuda Life ............................. 12 with Regard to Sales Personnel ......................................... 89 Contributing to the SDGs through Business Activities .............. 14 Diversifying Our Sales Channels A Message from the President ................................................. 18 while Developing New Markets .......................................... 90 Our Products and Services Aimed at Delivering Our Value Creation Strategies 25 Unwavering Peace of Mind to Customers and Helping Them Enjoy Affluent Lives ...................................... 91 Major Achievements of Successive Initiatives to Enhance Customer Satisfaction Medium-Term Business Plans .................................................. 26 via IT Utilization .................................................................. 93 About MY Mutual Way 2030—Our New 10-Year Plan .............. 28 Contributing to Innovation .................................................. 94 The Role of Phase I in the 10-Year Plan ................................... 30 Our Overseas Insurance Initiatives ...................................... 95 Special After-Sales Service Program Relationship with Local Communities “Always by Your Side!” (April 2020 to March 2021) .................. 31 Our Social Contribution Activities ....................................... 97 MY Mutual Way Phase I Relationship with Fellow Workers —Three-Year Program Spanning April 2021 to March 2024 ..... 34 Promoting Diversity & Inclusion .......................................... 99 A Message from Executive Officers in Charge of Finance and Capital Management ........................ 36 Four Major Reforms Overview of Business Activities Major Reform of Sales and Services ..................................... 38 and Financial Results 101 Major Reform of Core Functions and Administrative Services Status of Our Group Performance ......................................... 102 (Individual Insurance Marketing)............................................ 40 External Ratings by Rating Agencies ...................................... 104 Major Reform of Core Functions and Administrative Services (Group Insurance Marketing) ................................................ 42 Company Information 105 Major Reform of Asset Management .................................... 44 Topics Company Organization .......................................................... 106 Our Response to Environmental Sources of Foundation Funds / Status of Employees ............. 107 Concerns and Climate Change ............................................ 46 Domestic Subsidiaries, Affiliates and Others .......................... 108 Pursuing Responsible Investment Overseas Subsidiaries, Affiliates and Others........................... 109 as an Institutional Investor (1) Promoting ESG Investment and Financing ................... 47 Financial Section 110 (2) Promoting Stewardship Initiatives ................................ 49 Consolidated Basis Overseas Insurance Business .................................................. 50 Balance Sheets .................................................................. 111 Four Major Reforms Statements of Income ........................................................ 112 Major Reform of Mutual Company Management .................. 52 Statements of Comprehensive Income ............................... 113 Brand Strategy ........................................................................ 54 Statements of Changes in Net Assets ................................ 114 Two Major Projects Statements of Cash Flows ................................................. 116 “Wellness for All Project” and Notes to the Financial Statements ...................................... 117 “Community Vitalization Project” .......................................... 56 Independent Auditor’s Report............................................. 134 Non-consolidated Basis Business Foundation Balance Sheets .................................................................. 137 Supporting Value Creation 60 Statements of Income ........................................................ 139 Statements of Changes in Net Assets ................................ 141 Operation of Mutual Company ................................................. 61 Proposed Appropriation of Surplus .................................... 142 Management Structure ............................................................ 63 Notes to the Financial Statements ...................................... 143 Initiatives to Enhance Our Governance Structure ..................... 64 Independent Auditor’s Report............................................. 158 A Message from the Chairman of the Board ............................ 70 Supplementary Financial Information................................. 161 Interview with an Outside Director ............................................ 72 Directors, Executive Officers and Operating Officers ................ 74 Our History ............................................................................ 219 Internal Control System ........................................................... 76 International Directory ............................................................ 220 ERM and Risk Management Structure ..................................... 78 Compliance ............................................................................. 83 Meiji Yasuda Life Insurance Company Annual Report 2020 1 Corporate Profile Company Name: Meiji Yasuda Life Insurance Company Established: July 9, 1881 Location of Headquarters: 1-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo 100-0005, Japan Domestic Network: 105 Regional Offices and Market Development Departments, 1,033 Agency Offices, and 21 Group Marketing Departments (As of April 1, 2020) Total Assets: ¥39,530.8 billion Foundation Funds: ¥980.0 billion (Including reserve for redemption of foundation funds) Number of Employees: 43,676 Sales personnel (MY Life plan advisors): 33,000 (As of March 31, 2020) 2 Meiji Yasuda Life Insurance Company Annual Report 2020 Meiji Yasuda Life Insurance Company Annual Report 2020 3 To fulfill this mission, We are committed to realizing we will strive to become a life insurance company our management philosophy that cares about people first, cherishing relationships with customers, “Peace of mind, forever.” local communities and fellow workers. The Meiji Yasuda Philosophy consists of the Management Philosophy, Corporate Vision and Meiji Yasuda Values. Meiji Yasuda Philosophy Our fundamental corporate philosophy is expressed in these key concepts. Peace of mind, forever The Thought behind the Management Philosophy Since our founding, we have supported customers and local communities as a pioneer of the life insurance business based on a spirit of mutual aid. Our life insurance is imbued with people’s hopes; a fact that has remained unchanged Mission: throughout the years. Our duty is to respond to the hopes each customer has entrusted with us and continuously Meiji Yasuda Life’s support them throughout their lives to ensure their health and peace of mind. purpose and duty Management “Peace of mind, forever.” We take these words to heart and truly value our customers, delivering unwavering peace of mind, Philosophy while supporting each customer’s health improvement. A Long-Respected Life Insurance Company that Cares about People First We cater to our customers and seek to impress them Relationship with customers Vision: with our after-sales service. Meiji Yasuda Life’s Corporate Vision We create value to fill real social needs long-term vision Relationship with local communities and help nurture local communities. We respect ambition and diversity, Relationship with fellow workers and seek to create fulfilling workplaces. Customer Focus and Ethical Standards We value customers and act with the highest ethical standards. Values: Ambition and Creation Values to be held Meiji Yasuda Values We take on challenges and create new value. in high esteem Teamwork and Growth We help our fellow workers and grow together. 4 Meiji Yasuda Life Insurance Company Annual Report 2020 Meiji Yasuda Life Insurance Company Annual Report 2020 5 Thoughts behind Our Corporate Emblem and Logo Value Created by Meiji Yasuda Life Meiji Yasuda Life must remain true to one mission, that is, extending lifelong support to each and every customer to ensure their health and peace of mind. Our commitment
Load more

Recommended publications
  • 2. MS&AD Insurance Group Strategies
    Japan’s Insurance Market 2013 The Toa Reinsurance Company, Limited The Toa Reinsurance Company, Limited Japan’s Insurance Market 2013 Contents Page To Our Clients Tomoatsu Noguchi President and Chief Executive, The Toa Reinsurance Company, Limited 1 1. The Japanese Non-Life Insurance Market Yasuyoshi Karasawa President, Chief Executive Officer, Mitsui Sumitomo Insurance Company, Limited 2 2. Practical Risk Appetite David Simmons Managing Director, Analytics, Willis Re Head of Strategic Capital and Result Management 12 3. Japanese Insurance Company Management and the Introduction of Enterprise Risk Management Systems Nobuyasu Uemura Managing Director, Capitas Consulting Corporation 23 4. Enhancement of Enterprise Risk Management and Emerging Risk for Insurers Koichi Dezuka Executive Director, Ernst & Young ShinNihon LLC 27 5. Trends in Japan’s Non-Life Insurance Industry Underwriting & Planning Department The Toa Reinsurance Company, Limited 32 6. Trends in Japan’s Life Insurance Industry Life Underwriting & Planning Department The Toa Reinsurance Company, Limited 37 Supplemental Data: Results of Japanese major non-life insurance groups (company) for fiscal 2012, ended March 31, 2013 (Non-Consolidated Basis) 44 ©2013 The Toa Reinsurance Company, Limited. All rights reserved. The contents may be reproduced only with the written permission of The Toa Reinsurance Company, Limited. To Our Clients It gives me great pleasure to have the opportunity to welcome you to our brochure, Japan’s Insurance Market 2013. It is encouraging to know that over the years our brochures have been well received even beyond our own industry’s boundaries as a source of useful, up-to-date information about Japan’s insurance market, as well as contributing to a wider interest in and understanding of our domestic market.
    [Show full text]
  • Annual Report 2018 1 Corporate Profile
    Annual Report Meiji Yasuda Life Insurance Company, 20Year ended March18 31, 2018 Contents Corporate Profi le 2 Individual Administrative Services (Individual Administrative Service Reforms) 36 Meiji Yasuda Philosophy 4 Group Insurance Administrative Services (Group Insurance Administrative Service Reforms) 37 A Message from the President 6 Asset Management (Asset Management Reforms) 38 History of Our Challenges 8 Asset Management Administrative Services (Asset Management Administrative Service Reforms) 39 Value Creation Process at Meiji Yasuda Life 12 Overseas Insurance Business Contributing to the SDGs through Business (Overseas Insurance Business Reforms) 40 Activities 14 Domestic Affi liate Business (Domestic Group Company Management Reforms) 41 Topics Operating Base Reinforcement Strategy Stepping up After-Sales Service Tailored for the Elderly 16 Adopting a More Sophisticated Management Enhancing Our Product Lineup 18 Approach (Governance Reforms) 42 Pursuing Customer-Focused Business Operations 19 Human Resource Management (HR Reforms) 43 Our Support of Meiji Yasuda J. League and General Affairs, Infrastructure Management Other Initiatives to Vitalize Local Communities 20 and Working Environment Development (General Affairs Reforms) 44 Promoting Sustainable Investment and Financing 22 System Development Structure Community Vitalization Initiatives via (System Development Structure Reforms) 45 Partnerships with Local Governments 23 Brand Strategy Initiatives to Realize Improved Work Engagement 24 Solidifying Brand Recognition by Disseminating
    [Show full text]
  • Business Activities
    Business Activities Individual Insurance Marketing General Agent Marketing We are drastically reforming our sales personnel channel With regard to OTC sales at banks and other fi nancial as part of our initiatives to thoroughly enhance customer institutions, we launched individual annuity insurance satisfaction. in April 2008, and single premium increasing whole life More specifi cally, in April 2008, we adopted the "Ease insurance products (nursing care type)—the fi rst nursing of Mind Service Program" to standardize the frequency of care assurance products designed in response to the policyholder visits and service level in order to enhance total removal of the ban on insurance sales by banks and communications with customers and make customer other fi nancial institutions—in August 2008. The launching services more consistent. We also introduced a "Company of single premium individual annuity insurance in March Training Authorization System" for all sales personnel to 2009 further strengthened our product line-up. reinforce education and training, and regularly confi rm At the beginning of fi scal 2008, we reorganized our their knowledge and skill levels. As these programs marketing organization into three marketing departments gained momentum, we started calling our sales personnel depending on the type of fi nancial institution we "MY Life Plan Advisors" from November. Premised on collaborate with, thus strengthening our support for sales their implementation of "Ease of Mind Service Activities" activity in such institutions. and their acquisition of knowledge and skills, we We continue to enhance new partnership agreements endeavored to stabilize our treatment of sales personnel. with corporate agencies and tax accountant agencies, we We also altered the focus of our operations management have also strengthened our sales support by reinforcing at regional offi ces and agency offi ces to emphasize training for agencies.
    [Show full text]
  • 2011-2012 HR Service Delivery and Technology Research Report
    Keep Your Eye on the Prize An ERM Update on the Global Insurance Industry April 2013 2012 Global Insurance ERM Survey Report Since our 2010 survey, Financial Crisis Puts the Spotlight on ERM, insurers have endured volatile investment markets, persistently low interest rates, and a number of major natural and man-made catastrophes. Meanwhile, insurance regulations around the world are undergoing significant change, adding to the uncertainty and in some regions drawing materially on resources, with unclear tangible benefits to the business. As insurers set priorities for 2013 and beyond, there is a need to focus on those aspects of enterprise risk management (ERM) that will truly add value to your business, and to “Keep Your Eye on the Prize” — the theme we have chosen for our 2012 Global Insurance ERM Survey. Keep Your Eye on the Prize An ERM Update on the Global Insurance Industry Table of Contents Executive Summary 2 Introduction 4 Seven Major Findings 6 Finding One: Insurers see the value in ERM 6 Figure 1: How ERM is expected to enhance business performance 7 Finding Two: The business impact of ERM continues to grow, albeit slowly 7 Figure 2: Business changes resulting from insurers’ ERM programs 7 Finding Three: Those that stay the course reap the rewards 8 Figure 3: Making progress with ERM enhances business performance 8 Finding Four: Risk culture is critical to long-term ERM success 9 Figure 4: Risk culture’s importance in the end-state vision of ERM 9 Finding Five: Defining risk appetite and monitoring against it are key short-term
    [Show full text]
  • 2019 Complaint Ranking Report
    STATE OF CONNECTICUT INSURANCE DEPARTMENT 2018 Complaint Rankings Accident & Health Auto Insurance Andrew N. Mais Insurance Commissioner August 1, 2019 The Connecticut Insurance Department investigates thousands of complaints each year from consumers on all types of insurance policies including health, auto, homeowners, renters and life insurance. Our primary mission is consumer protection and we closely monitor insurance companies to make certain they adhere to state laws and are financially solvent to fulfill their obligations to their policyholders. In 2018, the Department’s Consumer Affairs Unit (CAU) fielded 6,349 complaints and inquiries from consumers. As a result, we were able to recover and return nearly $5.6 million back to consumers who turned to us for help. Those complaints are an important tool in helping us regulate the insurance industry. Our CAU examiners are effective liaisons between policyholders and their insurance companies. They assist consumers by: • Ensuring companies comply with state laws and the terms of the insurance policy • Communicate with a company on a policyholder’s behalf • Correct misunderstandings and provide consumers with information • Work with policyholders proactively before a problem develops In this report, companies that sell Auto and Accident & Health insurance are ranked by the number of complaints reported, whether those complaints were justified or questionable by company, by market share, identified by written or earned premium. A company’s ranking is determined by a “complaint ratio,” which is the total number of complaints divided by the direct premium and multiplied by 1 million. A company with the lowest complaint ratio is ranked No. 1. The types of complaints reviewed for the purposes of this report include claims handling, underwriting, marketing and sales, and policy service.
    [Show full text]
  • 2019 Insurance Fact Book
    2019 Insurance Fact Book TO THE READER Imagine a world without insurance. Some might say, “So what?” or “Yes to that!” when reading the sentence above. And that’s understandable, given that often the best experience one can have with insurance is not to receive the benefits of the product at all, after a disaster or other loss. And others—who already have some understanding or even appreciation for insurance—might say it provides protection against financial aspects of a premature death, injury, loss of property, loss of earning power, legal liability or other unexpected expenses. All that is true. We are the financial first responders. But there is so much more. Insurance drives economic growth. It provides stability against risks. It encourages resilience. Recent disasters have demonstrated the vital role the industry plays in recovery—and that without insurance, the impact on individuals, businesses and communities can be devastating. As insurers, we know that even with all that we protect now, the coverage gap is still too big. We want to close that gap. That desire is reflected in changes to this year’s Insurance Information Institute (I.I.I.)Insurance Fact Book. We have added new information on coastal storm surge risk and hail as well as reinsurance and the growing problem of marijuana and impaired driving. We have updated the section on litigiousness to include tort costs and compensation by state, and assignment of benefits litigation, a growing problem in Florida. As always, the book provides valuable information on: • World and U.S. catastrophes • Property/casualty and life/health insurance results and investments • Personal expenditures on auto and homeowners insurance • Major types of insurance losses, including vehicle accidents, homeowners claims, crime and workplace accidents • State auto insurance laws The I.I.I.
    [Show full text]
  • Top 100 Companies by Members As of August 1, 2013 2013 RANK
    Top 100 Companies by Members as of August 1, 2013 2013 RANK COMPANY NAME COUNTRY MBRS 1 New York Life United States 2,228 2 SBI Life Insurance Company Ltd India 2,064 3 Samsung Life Ins Co Ltd Republic of Korea 1,646 4 Northwestern Mutual United States 1,300 5 LIC India India 1,189 6 Fubon Life Insurance Co Taiwan R.O.C. 1,114 7 AIA International Ltd HOK Hong Kong SAR 1,000 8 Prudential Life Ins Co Ltd Japan 945 9 MetLife Korea Republic of Korea 836 10 Sony Life Insurance Co Japan 663 11 Prudential Assurance Co Ltd Hong Kong Hong Kong SAR 620 12 Prudential Financial United States 593 13 AXA China Region Insurance Co Ltd Hong Kong SAR 533 14 Cathay Life Taiwan R.O.C. 488 15 Ping An Life Insurance Ltd P. R. China 476 16 ING Life Ins Co Ltd-Korea Republic of Korea 456 17 MetLife Alico KK-Japan Japan 446 18 Kyobo Life Ins Co Ltd Republic of Korea 392 19 MetLife United States 382 20 Prudential Life of Korea Republic of Korea 364 21 AXA Advisors LLC United States 358 21 Massachusetts Mutual Life Ins Co United States 338 23 Securian Financial Group United States 335 24 Taiwan Life Ins Co Ltd Taiwan R.O.C. 315 25 Guardian Life Insurance United States 310 26 Gibraltar Life Insurance Company Ltd Japan 299 27 Nan Shan Life Ins Co Ltd Taiwan R.O.C. 295 28 Manulife Vietnam Limited Vietnam 286 29 Manulife(International)Ltd-Hong Kong Hong Kong SAR 282 30 Everpro Insurance Brokers Co Ltd-Taiwan Taiwan R.O.C.
    [Show full text]
  • Previous Investor Attendees Include
    Previous investor attendees include: Advantest Corporate Pension Fund Hulic Aflac Asset Management Japan Idemitsu Pension Fund Aozora Bank Itochu Corp Asahi Mutual Life Insurance Japan Bank for International Cooperation Asset Management One Japan Co-Op Insurance Consumers' Co- Operative Federation AXA Life Insurance Japan IT Software Pension Fund Bank of Yokohama Japan Post Bank BOT Lease JF Kyosuiren Canon JJK China Ping An Insurance Overseas (Holdings) KDDI Daido Life Insurance KDDI Corporate Pension Fund Daiwa House Industry Pension Fund Khazanah Nasional Berhad Daiwa SB Investments Manulife Asset Management DBJ Asset Management Manulife Capital DLI North America Inc. (Dai-ichi Life Meiji Yasuda Life Insurance Group) Mitsubishi Corporation Asset Management Farmers’ Pension Fund Mitsubishi Electric Pension Fund Fuji Xerox Mitsubishi UFJ GIC Mitsubishi UFJ Lease and Finance Government Pension Investment Fund Mitsui Sumitomo Insurance (GPIF) Mitsui Sumitomo Primary Life Insurance Hanwha Asset Management (MSPL) Hitachi Nara Chuo Shinkin Bank Sekisui Pension Fund National Federation of Mutual Aid Shimizu Corporation Associations For Municipal Personnel Shinkin Central Bank National Kyosai Federation of Japan Shinsei Bank Agricultural Cooperatives (ZENKYOREN) Sompo Japan Nipponkoa Insurance National Pension Fund Association Sony Bank Nihon Unisys Ltd Sumitomo Life Insurance Nissay Asset Management Corporation Sumitomo Mitsui Banking Corporation Nomura Asset Management Pension Fund Nomura Funds Research & Technologies Sumitomo Mitsui Trust
    [Show full text]
  • Industry Rankings
    11 INDUSTRY RANKINGS The U.S. life insurance industry in 2018 is made up of 773 companies with sales and operations across the country. Many of these companies are stand-alone entities, with no life insurer affiliate or subsidiary operating in the United States. Others are organized into groups or fleets of affiliates and subsidiaries. This chapter presents rankings of the 25 largest life insurance groups (counting stand-alone companies as a group of one) based on assets, premiums and annuity considerations, and life insurance coverage. Table 11.1 Largest Life Insurers, by Total Assets, 2018 (thousands) Prudential Financial $577,911,428 MetLife, Inc. 409,620,949 New York Life 324,780,964 TIAA-CREF 316,037,954 American International Group 284,995,635 Northwestern Mutual 272,266,151 Lincoln Financial 255,642,921 Massachusetts Mutual 254,871,959 Manulife Financial 247,572,347 Jackson National 236,988,672 Transamerica Corporation 201,204,255 AXA Financial 194,993,598 Voya Financial 189,367,712 Principal Financial 185,009,858 Brighthouse Holdings Group 179,295,297 Nationwide 170,472,992 Allianz 145,153,116 Pacific Life 135,579,228 Hopmeadow Holdings Group 117,913,970 Ameriprise Financial 104,112,139 Thrivent Financial For Lutherans 94,229,633 Sammons Financial 85,245,189 Athene Group 83,783,502 State Farm 78,026,036 Guardian 75,591,936 Source: ACLI tabulations of National Association of Insurance Commissioners (NAIC) data, used by permission. Notes: NAIC does not endorse any analysis or conclusions based on use of its data. Group totals represent a collection of life insurers based on organizational structure.
    [Show full text]
  • Japan's Insurance Market
    Japan’s Insurance Market 2014 Japan’s Insurance Market 2014 Contents Page To Our Clients Tomoatsu Noguchi President and Chief Executive, The Toa Reinsurance Company, Limited 1 1. Features of Japan’s Non-Life Insurance Market and Aioi Nissay Dowa Insurance Co., Ltd.’s Midterm Management Strategy Hisahito Suzuki President, Representative Director Aioi Nissay Dowa Insurance Co., Ltd. 2 2. Life Insurance Market in Japan Ikuo Kudoh, F.I.A.J. Deputy General Manager, Actuarial & Budgeting Dept. Sumitomo Life Insurance Company 11 3. Convergence Capital and Its Influence on the Japan Non-Life (Re)Insurance Market Jonathan Oatley Managing Director, Guy Carpenter 17 4. The Direction of Recent Amendments to the Insurance Business Law Related to Insurance Sales Regulations Itaru Adachi Attorney at Law 22 5. Trends in Japan’s Non-Life Insurance Industry Underwriting & Planning Department The Toa Reinsurance Company, Limited 28 6. Trends in Japan’s Life Insurance Industry Life Underwriting & Planning Department The Toa Reinsurance Company, Limited 33 Supplemental Data: Results of Japanese Major Non-Life Insurance Groups (Company) for Fiscal 2013, Ended March 31, 2014 (Non-Consolidated Basis) 40 ©2014 The Toa Reinsurance Company, Limited. All rights reserved. The contents may be reproduced only with the written permission of The Toa Reinsurance Company, Limited. To Our Clients It gives me great pleasure to have the opportunity to welcome you to our brochure, Japan’s Insurance Market 2014. It is encouraging to know that over the years our brochures have been well received even beyond our own industry’s boundaries as a source of useful, up-to-date information about Japan’s insurance market, as well as contributing to a wider interest in and understanding of our domestic market.
    [Show full text]
  • Case No COMP/M.6848 - AEGON / SANTANDER / SANTANDER VIDA / SANTANDER GENERALES
    EN Case No COMP/M.6848 - AEGON / SANTANDER / SANTANDER VIDA / SANTANDER GENERALES Only the English text is available and authentic. REGULATION (EC) No 139/2004 MERGER PROCEDURE Article 6(1)(b) NON-OPPOSITION Date: 29/04/2013 In electronic form on the EUR-Lex website under document number 32013M6848 Office for Publications of the European Union L-2985 Luxembourg EUROPEAN COMMISSION Brussels, 29/4/2013 In the published version of this decision, some C(2013) 2597 information has been omitted pursuant to Article 17(2) of Council Regulation (EC) No 139/2004 concerning non-disclosure of business secrets and PUBLIC VERSION other confidential information. The omissions are shown thus […]. Where possible the information omitted has been replaced by ranges of figures or a MERGER PROCEDURE ARTICLE 6(1)(b) DECISION general description. To the notifying parties Dear Sir/Madam, Subject: Case No COMP/M.6848 – AEGON / SANTANDER / SANTANDER VIDA / SANTANDER GENERALES Commission decision pursuant to Article 6(1)(b) of Council Regulation No 139/20041 (1) On 27 March 2013, the European Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 ("the Merger Regulation") by which the undertaking Aegon Spain Holding B.V. ("Aegon Spain"), ultimately controlled by Aegon N.V. (the "Aegon", the Netherlands) and Santander Seguros y Reaseguros, Compania Aseguradora, S.A. ("Santander Seguros", Spain), ultimately controlled by Banco Santander SA ("Banco Santander", Spain), jointly referred to as "the Notifying Parties", acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control over Santander Vida and Santander Generales by way of purchase of shares (the "proposed transaction")2.
    [Show full text]
  • 4. the Life Insurance Association of Japan
    4. The Life Insurance Association of Japan The Life Insurance Association of Japan (LIAJ) started as an incorporated association with formal sanction by the authorities concerned on December 7, 1908. Since then, the Association has continued to make efforts for the sound development of the life insurance industry. a) Objective To strive for the sound development of the life insurance industry and maintain its reliability b) Functions (a) Research and study of theories and practices relating to life insurance (b) Public relations relating to life insurance (c) Statement on life insurance (d) Other functions considered necessary to attain the purpose of the Association c) History 1898 ・The Forum of Japanese Life Insurers was founded. 1905 ・The Forum of Japanese Life Insurers was reorganized into the Association of Japanese Life Insurers. 1908 ・The Association of Japanese Life Insurers was authorized as an incorporated association. 1942 ・The Life Insurance Control Association was founded. The Association of Japanese Life Insurers was renamed the Life Insurance Network, and most of its operations were transferred to the Life Insurance Control Association. 1945 ・The Life Insurance Council of Japan was founded to take over the operations of the Control Association after it was dissolved. The Life Insurance Network was renamed The Life Insurance Association of Japan (LIAJ). All the operations of the Life Insurance Network were transferred to the LIAJ. 2008 ・The LIAJ marked the 100th anniversary since its foundation. 2014 ・The LIAJ made a transition
    [Show full text]