MESSAGE FROM
THE PRESIDENT

Chairman:Kazuhiko Ishihara

President:

Shoji Ito

I would like to express my sincerest gratitude to all our stakeholders for their continued support.
We also wish to extend our deepest sympathies to all the people affected by the earthquake off the coastof the Noto region of Ishikawa prefecture in May this year and other earthquakes.
Japan Earthquake Reinsurance Co., Ltd. (“JER”) has been committed to continuing key operations suchas reinsurance payouts despite the COVID crisis, with a range of measures to help prevent the spread ofCOVID-19 such as staggered commuting, teleworking and online meetings.
Since the establishment of the earthquake reinsurance scheme in 1966, JER, the only reinsurancecompany in Japan specializing in household earthquake insurance, has adopted "JER will aim to be arespected company that contributes to the sustainable development of a prosperous and safe society
through the appropriate management of the earthquake insurance system" as its management philosophy
and has worked to realize this philosophy.
JER has sought to make prompt and reliable reinsurance payouts, its key mission, in the aftermath ofdisasters such as the Great Hanshin-Awaji Earthquake in 1995, the Great East Japan Earthquake in 2011,
the Kumamoto earthquakes in 2016, and the 2021 and 2022 earthquakes near Tohoku.
Given that earthquake insurance plays an important part in supporting the lives of the people affectedby such disasters, the earthquake reinsurance scheme was developed through collaboration between theJapanese government, private non-life insurance companies and JER. Through the joint efforts of boththe public and private sectors, the scheme is run in such a way that it facilitates prompt and reliable
earthquake insurance payouts.
It is believed that major earthquakes, such as a Nankai Trough earthquake or an inland Tokyo earthquake,
will definitely occur in the near future. It is necessary to anticipate the simultaneous occurrence ofmeteorological disasters, which are increasing in severity and frequency, pandemics and cyber attacks.
To fulfill our responsibilities as a reinsurance company specializing in earthquake insurance, JER isdeveloping a system to pay insurance proceeds promptly in case of contingencies. JER believes it is alsoimportant to undertake initiatives to solve social issues, such as enhancing disaster prevention capabilities
to minimize damage to society when disasters do occur and strengthening society's resilience so that it
can quickly overcome and recover from disasters.
In light of the changes described above, JER formulated its medium- to long-term corporate vision, "Moving
into the next stage of security with the strength of an earthquake insurance specialist," and started toimplement the 6th Medium-Term Management Plan in FY2021. Specifically, building on its sophisticatedmanagement (ERM) and the promotion of SDGs management, JER is pursuing a human asset strategy anddigital transformation (DX). It is focusing on the following four strategies: promoting initiatives toward theevolution of the earthquake insurance system, establishing an asset management system with an eye toan asset size of 1 trillion yen, establishing a system for prompt payouts at the time of a complex disasterand improving the percentage of earthquake insurance as an accessory contract to fire insurance, as wellas raising awareness of disaster preparedness and mitigation.
Fully recognizing our social responsibilities and mission, we will continue contributing to the "developmentof the earthquake insurance system" and the "realization of a safe and secure society" through theearthquake reinsurance business, aiming to earn greater trust from our stakeholders.
As such, we sincerely appreciate your continued support.
July 2023

Shoji Ito, President
Japan Earthquake Reinsurance Co., Ltd.

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Japan Earthquake Reinsurance Co., Ltd. Annual Report 2023