The Japan Financial Services Agency (FSA) published the results of public comments and finalised partial revisions to its notice underpinning economic value-based solvency regulations for insurers, updating the Commissioner-designated classifications used to calculate amounts equivalent to the solvency of insurance claims and the classifications corresponding to qualified rating agency ratings. The consultation ran from 23 December 2025 to 21 January 2026 and generated two comments, with the FSA publishing a summary of feedback and its responses alongside comparison tables showing old versus new provisions. The package includes revisions linked to the Insurance Business Act Enforcement Regulations, including provisions on calculation methods for solvency-equivalent amounts and amounts equivalent to risk exceeding the normal forecast, as well as Commissioner-determined matters used as references for understanding insurers’ solvency. The revised notice is promulgated and will enter into force and apply from 31 March 2026.
Japan Financial Services Agency 2026-03-23
Japan Financial Services Agency publishes consultation outcome and finalises revisions to economic value-based solvency rating classifications for insurers effective 31 March 2026
The Japan Financial Services Agency finalized revisions to its notice on economic value-based solvency regulations for insurers, updating classifications for calculating solvency-equivalent amounts and aligning with qualified rating agency ratings. Linked to the Insurance Business Act Enforcement Regulations, the revisions include updated calculation methods and Commissioner-determined references for insurer solvency. The revised notice will be effective from 31 March 2026.