Japan Post Insurance's president and CEO Tetsuya Senda yesterday apologised to shareholders for improper sales of Kampo insurance products, reported Jiji Press. On July 10, the top executives of Japan Post Insurance and Japan Post apologized for the sales misconduct of their policies, and announced with the parent company, Japan Post Holdings, to set up a third party committee in order to investigate into details of the situation. Recent research has shown that more than 80% of physicians use Kampo in daily practice. Japan Post has suspended active policy sales while it investigates the matter. In an interim report, Japan Post said it found about 6,300 cases of insurance sales at post offices that might have broken the law or company rules. Kampo is the insurance arm of former state-owned conglomerate Japan Post Holdings. The formal Japanese name of JPI is Kabushiki Gaisha Kampo Seimei Hoken and it is branded as Kampo Seimei (seimei means life). Tokyo. Japan Post (日本郵政公社, Nippon Yūsei Kōsha) was a government-owned corporation in Japan that existed from 2003 to 2007, offering postal and package delivery services, banking services, and life insurance. Japan Post Insurance, known as Kampo, does not plan to increase foreign bonds without currency hedging, wary of risks that the safe-haven yen could strengthen, the officials also said. UPDATE 1-Japan Post Insurance: To step up investment in risk assets in 2017/18. Kampo is the insurance arm of former state-owned conglomerate Japan Post Holdings. support insurance Launched Kampo ni Omakase, products with relaxed underwriting criteria; and an advanced medical rider ・Launched Shin Free Plan (short-term premium payment), an endowment insurance ... Japan Post Holdings, Japan Post Bank, and Japan Post Insurance were simultaneously listed on the First Section of the Tokyo Stock Exchange. This means that these employees are earning the commissions for the financial products, and put differently, are supporting a part of the nationwide postal service business. Hayabusa 2 Capsule Returns to the Earth ― Potential for Space Business and the Concern for the Escalation of Fierce Development Race. Template:Infobox Company Template:Nihongo, or かんぽ for short, is a Japanese life insurer that was established on October 1, 2007, with the privatization of Japanese Kampo Life Insurance (Kan'i Hoken). See also Japan Post Holdings - a holding … Infobox Company company_name = Japan Post Insurance Co., Ltd. company_ company_type = Subsidiary of Japan Post Holdings Co., Ltd. (currently government owned) foundation = 2006, or establishment of the Postal Life Insurance Services (Kampo) in 1916 2. Japan Post Insurance Co., Ltd. (株式会社かんぽ生命保険, Kabushiki-gaisha Kanpo Seimei Hoken), is a Japanese life insurer that was established on October 1, 2007, with the privatization of Japan Post Life Insurance (簡易保険, Kan'i Hoken).It is part of the Japan Post Holdings group. Japan Post Co. Consignment contract related to solicitation, maintenance and payment of insurance. In October 2017, they actualized their shift in product policy by introducing medical riders into their insurance policies. Yano Research Institute Ltd. Post-COVID-19 Asian Economy – Japanese Companies Proactively Take “China Plus One” Strategy, Increasing Political Risk - Do Not Hand Over the Initiative in Management Decision to the Politics. By . Japan Post Insurance had been providing annuity insurances such as endowment insurances as their main products, but its sales fell sluggish due to the deterioration in operations caused by low interests. To assess the current use of Kampo drugs in the National Health Insurance Program, we analysed a … The question is how the local networks of postal services will be maintained; as it’s not something that Japan Post themselves can handle on their own. Sorry, but your browser needs Javascript to use this site. The stock has risen about 10 per cent this year. Since then, they have continued enhancement in profitability primarily through the strengthening of employee sales skills at tellers, promoting “the shift from savings to asset building”, as well as attaining new contracts and customers. Joe Biden's Presidential Victory Confirmed. Japan Post Insurance (Kampo Life) has established an alternative investment division to explore the investment opportunities of private equity, real estate, infrastructure and hedge fund investments in global markets. The Japan Times LTD. All rights reserved. Most relevant news about JAPAN POST INSURANCE CO., LTD. 11/10: JAPAN POST INSURANCE CO., LTD.: half-yearly earnings release 11/01: Stories on Japan insurers investment plans available in PDF file Japan Post Insurance plans to step up investment in risk assets including stocks, foreign bonds and alternative investments in the year through March 2018, investment planning officials said on Wednesday (26/04). One third of all Japanese government employees worked for Japan Post. However, the use of Kampo from the patient perspective has received scant attention. The insurer has increased investment in riskier assets since it was partially privatised in 2015. 56.87%. If the stock share falls below half of its original share, the regulations on new businesses are alleviated from a licensing system to a notification system, which would give them more freedom in management. Past offerings were heavily marketed to individual investors. However, the real issue is in the group’s revenue structure supported by Japan Post Insurance and Japan Post Bank’s postal service businesses of low growth and low revenue, all just to maintain the mandated “universal service”. Archived articles are available to Magazine subscribers only. The Japan Post group will refrain from selling insurance products this year to focus on its investigation and preventive efforts. Japan Post Insurance (Kampo Life) has established an alternative investment division to explore the investment opportunities of private equity, real estate, infrastructure and hedge fund investments in … If you're not sure how to activate it, please refer to this site. Also, subject to regulatory approval, Japan Post Insurance (Kampo) will enter into an agency contract with Aflac Japan to begin distributing Aflac Japan's cancer insurance products at all of Kampo's 79 directly managed sales offices. The affair has shocked the public, especially in rural areas where the nation’s 24,000 post offices are part of the social infrastructure, providing both financial and mail services. Kampo is the insurance arm of former state-owned conglomerate Japan Post Holdings. History September 1, 2006 - It started as the "preparation company (準備会社)". The Liberal Democratic Party (LDP) came back into power at the end of 2012 and has since The details of the issue were; “collecting duplicate premium payments from customers for both new and old, terminated insurance contracts”, to prolong the contracting period of the old insurance, and “the intentionally uninsured period during the transition from old to new insurance”, where by leaving a certain length of time between the termination of the old contract and entering a new one, these customers would be considered “new” upon company rules, both in the aim for employees to meet the sales quota. If you are already a subscriber Template:Infobox Company Template:Nihongo, or かんぽ for short, is a Japanese life insurer that was established on October 1, 2007, with the privatization of Japanese Kampo Life Insurance (Kan'i Hoken). Japan Post was a government-owned corporation in Japan that existed from 2003 to 2007, offering postal and package delivery services, banking services, and life insurance. Kampo has been integrated into Japan 's national healthcare system, and there are 148 kampo medicines in Japan that are currently approved for reimbursement from insurance. Tokyo, June 15 (Jiji Press)--Japan Post Insurance Co. 7181> President and Chief Executive Officer Tetsuya Senda apologized to shareholders for improper sales of Kampo insurance products Monday. Japan Post Insurance, also called Kampo, is the insurance arm of former state-owned conglomerate, Japan Post Holdings. 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