Japan CO-OP Insurance (Kyosai)
Consumers' Co-operative Federation

2022

Year Ended March 20, 2022

ANNUAL REPORT

2022

Year Ended March 20, 2022

Expand the circle of "Tasukeai"
to everybody

We cherish the heart of mutual cooperation when someone isin trouble (=Tasukeai). We will continue to expand the circle of“Tasukeai” to support more and more people.

CONTENTS
1 . Visions of CO･OP Kyosai01

2. Message from the President

02

3. CO･OP Kyosai Long-term Vision 2030

03

4. Topics of FY2021

05

5. Financial Highlights

06

6. Business Overview of CO･OP Kyosai Products for Fiscal 2021
7. Outline of CO･OP Kyosai

07
09

8. Types of CO･OP Kyosai Products

11

9. Payment of Claims

12

10. Management System

13

11. Co-op Action Plan for SDGs

15

12. Activities

16

13. Balance Sheet
14. Income Statement

19

15. Management Index

21

20

The oﬃcial name of our organization is Japan CO-OP Insurance (Kyosai) Consumersʼ Co-operative Federation,commonly abbreviated as CO•OP Kyosai.
Year Ended March 20,2022 (Fiscal Year 2021: March 21, 2021- March 20, 2022)

1

Visions of CO•OP Kyosai
Through CO•OP Kyosai products and the mutual assistance of CO-OP members,
we are aiming to improve livelihoods of members, develop consumer cooperatives, promote the cooperative movement and enrich our society, focusing
on covering economic loss caused by various risks in membersʼ livelihoods.

1

We will oﬀer co-operative insurance productsthat suit membersʼ needs with more reasonablepremiums and better coverage.

2

We will promote communication between
members and CO-OP employees, and encouragea spirit of mutual aid among members.

3

We will enhance the social credibility of
consumer co-operatives by the stable and eﬃcientmanagement of the insurance and the expansionof the insured.

4

We will oﬀer members the opportunity to learn
about insurance and help them acquire the ability
to select the insurance that suits them most.

5

We will strive to address the problems of aging
population with declining birthrate, health and welfare,and contribute to society by social welfare activities,
disaster activities and others.

Annual Report 2022

01

2

Message from the President
eﬀort to enhance convenience for co-op members.
For example, we now accept contract applications
via the Internet, have expanded the “CO-OP Kyosaimy page” functions, and provide suggestions on themost optimal coverage for each co-op member via
an online system. The free phone consultation
service for older members, which started in ﬁscal
2020, also continues to be well received.
Given the diversifying forms and needs offamilies, we will continue to improve our products
and step up our services for co-op members by
utilizing their valuable feedback.
As part of our social initiatives, the Grants toPromote Mutual Support in Communities project,which started in ﬁscal 2012 and marked its 10th
anniversary this year, was restarted with a newly
designed program. As exempliﬁed by this donation
project, which provides support to medical
professionals struggling against the COVID-19
pandemic as well as to children and students inﬁnancial need, we will continue to makecontributions to society.
In current world aﬀairs, Russiaʼs military invasionof Ukraine has been taking a serious toll on civilians.
CO-OP Kyosai joins with other co-ops and theirmembers across the world in making an appeal forpeace.
Japan faces myriad social issues, but CO-OP
Kyosai will endeavor to work with our member
co-ops nationwide to resolve them and bringreassurance to co-op members. We ask for yourcontinued understanding and support.

The uncontrollable spread of COVID-19 hascontinued since the beginning of 2020, with the
cumulative number of cases exceeding 600 million
worldwide and 18 million in Japan as of the end of
August 2022. I would like to pray for the souls of thevictims and extend my deepest sympathies to those
who have suﬀered from the disease. The seemingly
endless ﬁght against the virus has left the entire
society exhausted and has widened economic andmedical disparities, exerting a tremendous impact
on the daily lives of co-op members.
Under such circumstances, as in ﬁscal 2020,
CO-OP Kyosai continued to extend the grace period
for the payment of insurance premiums. We
considered cases of COVID-19 patients recuperating
at home as equivalent to those having been
hospitalized, paying out 6.2 billion yen in insurance
claims, which was more than tenfold the amount
paid last year, to support co-op members.
In the CO-OP Kyosai business, the number ofpolicyholders of direct insurance (kyosai) products
reached 8.82 million. Adding those holding indirect
insurance (kyosai) products, the number increased
to 9.25 million as of the end of ﬁscal 2021,
generating premiums exceeding 206.0 billion yen in
total.
In ﬁscal 2021, we started widely accepting
applications for Student Comprehensive Mutual
Insurance and extended the expiry age of the Junior
Course of CO-OP Insurance Tasukeai from 20 to 30,
thereby facilitating our path to achieving themilestone of 10 million direct insurance (kyosai)
product policyholders, which is one of the targets
upheld under the CO-OP Kyosai Long-term Vision
2030. In September 2022, we will start oﬀering a
new CO-OP Insurance Tasukeai course with better
coverage. By broadening the coverage for men in
addition to women and children, CO-OP Kyosaiʼsarea of strength, and drawing on the mechanism of
mutual aid, CO-OP Kyosai will move a step closer tooﬀering lifetime coverage.
Furthermore, we are increasing our measures topush forward with digital transformation (DX) in an

Toshiaki Wada
President
Japan CO-OP Insurance(Kyosai)Consumersʼ Co-operative
Federation

Annual Report 2022

02

3CO•OP Kyosai
Long-term Vision 2030
CO•OP Kyosai formulated its Long-term Vision 2030 as a 10-year plan starting in
2020. Through our co-operative insurance business that draws on feedback fromco-op members, we will continue endeavoring to support co-op members andtheir families, and be there for them when needed by making constantimprovements in pursuit of reasonable premiums, better coverage thathelps them in case of emergencies, easier procedures, and reduced costs.

Main Statement
Cooperating for better future livelihoods

We aim to bring together the strengths of co-op members, promote mutual
support, be there for them and their families, and create a new form of mutual aid
and better livelihoods for the future in collaboration with co-op members.

Five Values of CO•OP Kyosai
Participation and empathy

Contribution to livelihoods

To encourage co-op members to participate,shape empathy into concrete forms, andwidely disseminate the beneﬁts and beliefs of
the CO•OP Kyosai mutual aid initiative among
co-op members and employees.

To contribute more to livelihood security
through CO•OP Kyosai products, especiallywhen the environment surrounding ourlivelihoods is severe, in particular by oﬀering
coverage designed for women and children.

Response to changes

Contribution to local
communities

To identify changes in co-op membersʼ
livelihoods and living environments, and totransform ourselves as well as take onchallenges to remain capable of helpingthem.

To take on greater roles in local communities
by collaborating with national or local
govenment and other organizations to protect
the livelihoods of local co-op members amid
decreasing populations.

Stable business operation for future livelihoods

To be better equipped to address changes as we face intensifying competition in the insurance
industry, industry transformation driven by IT, and the negative pressure exerted by decreasing
populations, aging, and declining birth rate.

Annual Report 2022

03

Business Goals for 2030

1

2

3

To expand the circle ofdirect policyholders ofCO•OP Kyosai products
to 10 million with theaim of ensuring a lifetimeof security for more coop members.

To increase the payment
of insurance claims by 30
billion yen (equivalent topayment rate of over 7%)
to contribute to the livelihoods of co-op members bydirectly providing them withgreater amounts of beneﬁts.

To secure a surplus rate of
18% and a solvency margin
ratio of at least 280% on
an economic value basis tomake CO•OP Kyosai policyholders feel reassured.

What We Aim to Be in 2030 andSeven Areas of Focus to Achieve our Ideals
To be capable of providing lifelong
insurance starting before birththrough our mutual aid scheme(Focus on product development)

1
2

To be the kind of mutual aid schemethat co-op members can feel proud of(Focus on encouraging participation of
co-op members and spreading empathy)

To play greater social roles and help
co-operative businesses display theircomprehensive strengths(Focus on expanding roles as a businessand collaborating with other co-ops)

To run stable business operations(Focus on business operations)

To have an expanding circle of mutual
aid(Focus on promotional activities andjoint businesses)

3
4

To oﬀer convenient, simple, and reliable
procedural steps for policyholders(Focus on building a clerical structure
distinct to CO•OP Kyosai)

56
7Annual Report 202204

To ensure that employees leadenjoyable and fulﬁlling work lives(Focus on the development of humanresources that sustain CO•OP Kyosai)

4Topics of FY2021■ Released CO-OP Student Comprehensive
Mutual Insurance in September 2021
Student Comprehensive Mutual Insurance is a system of “Tasukeai” (mutual cooperation)
initiated in 1981 by university co-ops. On September 1, 2021, CO-OP Kyosai released the
product, jointly underwritten by the University Co-operatives Mutual Aid Federation（UCMAF,
and started oﬀering coverage in April 2022. The product provides comprehensive support touniversity and vocational school students. In October 2022, CO-OP Kyosai took over the Kyosai
business from the federation.

1. Expanding the scope of policyholders to include university/

college and vocational school students across Japan

Students (aged 18 to under 35) of universities/colleges and vocational schools that do not have their own university
co-op are now eligible to apply for the insurance by becoming a member of a local co-op. Uninterrupted coverage canbe ensured even during life stage transitions, which people in this age bracket are likely to experience.

2. Supporting insurance coverage needed for student life

Hospitalization is covered from the ﬁrst day for as long as 360 days at 10,000 yen a day. Hospital visits due to an
injury are covered from the ﬁrst day for as long as 90 days at 2,000 yen a day.
The product addresses the insurance needs of younger adults and provides comprehensive support for student life
by oﬀering a broad range of coverage including payment for incidental expenses incurred when returning to
education after suﬀering a serious permanent disability; prompt payment for mental problems when treated for a
psychiatric disorder; lump-sum payment for stalking victims; and payment in cases where the primary wage earner is
no longer expected to be able to fulﬁll that role.

Coverage applies 24 hours a day, 365 days a year,
regardless of whether within or outside the educational institution,
and whether in Japan or elsewhere.
(Note: Coverage is not provided for some events outside Japan.)

4. The prerequisites for insurance coverage are not demanding,and therefore applicants with a chronic disease are also eligible.

5. The New Working Adult Course (for under 30) is being launched for newly

graduated applicants regardless of their health condition. After expiring
the course at the age of 30, policyholders can transition to CO-OP Insurance(Kyosai) Tasukeai in order to ensure uninterrupted coverage.

■6.23 billion yen paid in insurance claims for COVID-19 infection in ﬁscal 2021
In ﬁscal 2021, CO-OP Kyosai paid 6.23 billion yen for 103,369 insurance claims, more than tenfold the 610 million yen
paid out for 14,639 claims in ﬁscal 2020. This was attributable to the impact of the delta and omicron variants thatspread from August 2021 and January 2022, respectively.
In addition to hospitalization at a medical institution for COVID-19, we also consider recuperation at a hotel or home
to fall under “hospitalization due to accidental infection,” as in ﬁscal 2020. Given that some local municipalities
deemed family members living with an infected individual as having “tested positive” due to a shortage of testing
capacity, we accepted claims based solely on a doctorʼs diagnosis. We made payments in all such cases, considering
them to be eligible for insurance payouts for injury hospitalization.

Annual Report 202205

5Financial Highlights
USD
Million＊2

JPY
Million＊1

Fiscal 2020 and 2021

2020

2021

2021

Ordinary income¥238,452¥244,658＄2,061

Ordinary expenses¥184,579¥200,470＄1,689Ordinary surplus¥53,873¥44,188＄372

Net surplus¥11,851¥7,971＄67

Total assets(= Total Capital)¥492,945¥523,434＄4,410Total liabilities¥329,369¥353,748＄2,980Total Net Assets¥163,576¥169,686＄1,429Number of policies total

9,109,701

9,258,688-

Number of policies

8,678,218

8,820,059-(CO•OP Kyosai products only)＄110

Total amount of insurance in force¥13,086¥12,852(CO•OP Kyosai products only)（billion yen）
（billion yen）
Dedicated to continuously paying insurance
without interrupting
Solvency
margin (%)
importantsecurities
even during the COVID-19
1586.7%1539.2%pandemic.

（billion）-＊1. Yen amounts are rounded down to the nearest ¥1 million.
＊2. U.S. dollar amaunts are converted, for convenience only, at ￥118.69=US $1.00 (as of March 18,2022)

Numbers of total policies(thousand people)(¥ billion)

10,00014,000

9,109

9,000
8,675

8,801

Total amount of
insurance in force(CO•OP Kyosai products total)

9,258

13,086

8,928

13,00012,852

12,2998,000

012,436

12,58912,000

2017

2018

2019

2020

0

2021

(Fiscal year)

Annual Report 2022

06

2017

2018

2019

2020

2021

(Fiscal year)6

Business Overview ofCO•OP Kyosai Products for Fiscal 2021

Changes in the Number of Policyholders

In 1984, CO•OP Kyosai products Tasukeai, Term Life and Medical Insurance, started providing

an insurance coverage of one million yen for death and of 20,000 yen for inpatient care for a
premium equivalent to the price of a cup of coﬀee, followed by Long Term Life Insurance named
Ai-Plus in 2000, and Zutto-Ai, Whole Term Life Insurance and Whole Term Medical Insurance, in2011. As a result of these eﬀorts, the number of policyholders in CO•OP Kyosai products reached8.82 million as of March 20, 2022. The spirit of mutual cooperation for supporting each otherʼsfuture has been carried on without change since the launch of CO•OP Kyosai.

6.99

7.94

8.67

8.82
CO•OP Kyosai producthas helped members
livelihoods step by step
through cooperation
among members.

5.38
3.27
1.47
0.13
0
1984 1990

1995

2000

2005

2010

2015

2020

2021

Overview of the ﬁnancial results of the CO•OP Kyosai business
Policyholders as of the end of Fiscal 2021 totaled 9.2 million
When broken down by product, Tasukeai policyholders increased by 38,629 from the previous year to
6,002,319, Ai-Plus policyholders increased by 39,168 to 2,076,146, Zutto-Ai policyholders increased by 64,044
from the previous year to 741,594, CO-OP Fire Insurance policyholders increased by 4,309 to 412,876, CO-OP
Life Insurance New-i.i. policyholders decreased by 1,255 to 21,661,and policyholders of Automobile Insurance,
which started in Nov. 2021, amounted to 4,092.
Total number of policyholders reached 9,258,688 by the end of ﬁscal year of 2021.

Policies in force totaled ¥13.08 trillion

Premiums totaled ¥206.2 billion

CO•OP Kyosai has a total of ¥13.08 trillion in policies
in force (direct products only), an increase of 1.8%
from the previous year.

CO•OP Kyosai has a total of ¥206.2 billion inpremiums (direct products only), an increase of 2.6%
from the previous year.

1.44 million payments madeTotal claims paid amount to ¥72.4 billion

CO•OP Kyosai made a total of 1.44 million payments(direct products only), an increase of 11% from theprevious year.

CO•OP Kyosai paid a total of ¥72.4 billion for
insurance claims (direct products only), an increaseof 7.4% from the previous year.

Annual Report 2022

07

JPY
Asset Management Million

USD
Million＊2＊1

Stocks2020

2021

Composition
ratio(%)

2021

Cash and deposits¥94,806¥81,85817.0%＄689.678

Money trust ＊3¥132,956¥143,578

29.9%＄1,209,689

Negotiable deposit¥28,500¥32,500

6.8%＄273,822

Public and corporate bond

¥196,703¥222,733

46.3%＄1,876,594

¥255

¥255

0.1%

＄2,148Foreign bond

0

0

0.0%

0

Other securities

0

0

0.0%

0

¥453,221¥480,925

100.1%＄4,051,942

Fiscal Year

Stocks

Total

0.1%

Cash anddeposits
Public andcorporate
bond

17.0%

Money trust

46.3%

29.9%

Negotiable deposit

6.8%＊1. Yen amounts are rounded down to the nearest ¥1 million.
＊2. U.S. dollar amounts are converted, for convenience only, ￥118.69=US $1.00 (as of March 18,2022) and rounded down to thenearest $1 thousand.
＊3. Money held in trust are transferable warranty deposits.

CO•OP Kyosai Business Overview by ProductTasukeai(Fiscal year)

Fiscal Year

Number of Policies

2019

5,921,790

2020

2019

1,968,949

2020

2,036,978

Claims Paid (¥millions)Fiscal Year¥40,014¥43,644

2020

Number of Policies(Fiscal year)

609,76320192020

677,5502021

2,076,146

Number of Policies

5,963,690 6,002,319

Zutto-Ai

Number of Policies

2021

2021

Premium lncome (¥millions) ¥107,823 ¥108,572

6,002,319

Ai-Plus(Fiscal year)

Number of Policies

5,963,690

2021

2020

741,5942021

Fiscal Year

2020

2021

2,036,978 2,076,146

Number of Policies

677,550

741,594

Premium lncome (¥millions)¥66,227¥68,162

Premium lncome (¥millions) ¥26,900¥29,537

Claims Paid (¥millions)¥23,343¥23,970

Claims Paid (¥millions)¥4,845New i.i.

CO-OP Fire
Insurance¥4,121

Automobile
Insurance＋
プラスして付けられます！

(Fiscal year)

2019
2020
2021

Number of Policies

23,94922,916
21,661(Fiscal year)

Number of Policies(Fiscal year)2019

404,505

2020

408,5672021

412,876

Annual Report 2022

08

2021

Number of Policies

4,092

7

Outline of CO•OP Kyosai

About consumer cooperatives (Co-ops)

Consumer cooperatives (Co-ops) are non-proﬁt cooperative organizations jointly owned byconsumers for their mutual beneﬁt, and are established pursuant to the Consumer
Cooperatives Act. Consumers provide capital to become a member of a co-op andparticipate in the decision-making and management of the organization with the aim ofachieving a better life.
Co-ops engage in a wide range of activities including supplying merchandise throughdelivery and at stores; oﬀering mutual aid, medical care, and welfare services; hosting mutual
support programs among members; and providing educational programs on everyday life.

CO•OP Kyosai, Co-op and JCCU
Our organization is a federation of
153 consumer cooperative societies(as of March 20,2022) from acrossthe nation. Although each member
Co-op is an independent legal
entity, each provides CO•OP Kyosai(Insurance) Products to its members
in cooperation with the federation.
CO•OP Kyosai was established totake over and specialize in all mutual
insurance businesses previously
conducted by our member Co-ops.

Co-op members
Member co-ops

Regional Co-ops, Co-op Associations etc.
Supplying products, promoting and supporting social activities etc.

CO•OP Kyosai

JCCU

Japan CO•OP Kyosai (Insurance)
Consumers' Co-operative Federation

Japanese Consumersʼ
Co-operative Union

Cooperative Insurance business
Promotion of Life-Planning
Activities
Reconstruction from disaster,
support for member co-ops
Support for social activities

Roles of Member Co-ops andCO•OP Kyosai

Co-op members, Policyholders

CO•OP Kyosai works to enhance our relationship withmember Co-ops by fulﬁlling the requirements of our
speciﬁed role and acting cooperatively to achieve ourcommon goals.

Member Co-op”Window for CO•OP Kyosai”
The main business of member Co-ops isretailing (providing home delivery service
and operating stores). Each member Co-op
acts as a service window for the subscription
procedure and also provides information on
CO•OP Kyosai products. In addition, eachmember Co-op works to support its
individual members by oﬀering insurance
products responding to a range of needs.

Product Business:
Development and Distribution
Catalog business
Welfare, Environment, Reconstruction
from disaster, Support for member co-ops
Social Roles as a Consumersʼ
Organization

Window for thesubscription
procedure
Member Co-ops

Cooperative
business

Contract of
CO･OP Kyosai
products
CO•OP Kyosai(Japan CO•OP Kyosai (Insurance)

CO•OP Kyosai Consumersʼ Co-operative Federation )“CO•OP Kyosai developing products in response to the needs of
its members and others”
As well as developing cooperative insurance products, thefederation receives premiums, undertakes procedures related tothe payment of insurance claims and provides administrative
support services to member Co-ops. It also provides consulting
services and responds to complaints.
*Each of the three federations of consumer cooperative societies
which share responsibilities as a contract underwriter has a dualrole as member Co-op and federation of CO•OP Kyosai Products.

Annual Report 2022

09Structure ofCO•OP Kyosai

ExecutiveOﬃcer
in charge of
University(as of October 1, 2022)

University
Dept.

University CO-OP Section Management Div.
Student Comprehensive Mutual Insurance Sales Promotion Div.
DX Promotion Div.
Policy Administration Planning Div.

Standing
Directorin charge ofpromotion,
operation,
university,and DX

ExecutiveOﬃcer
in charge ofOperation and
DX promotion

Policy Administration Div.

Operation
Dept.

Claims Planning Div.
Claims Handling 1st Div.
Claims Handling 2nd Div.
West Japan Claims Handling Center
Call Center Management Div.
Education and Learning Div.
Promotion Planning Div.

Board ofAuditors

Store Promotion Div.
Promotion Management of Co-op Tohoku Div.
Miyagi Promotion Div.

Secretariat ofAuditors

Iwate Promotion Div.

Sales promotion
Dept.
President andManaging
Director

Aomori Promotion Div.
Hokkaido and Tohoku Area Promotion Div.
Central Area Promotion Div.
Kansai Area Promotion Div.
Chusikoku Area Promotion Div.
Kyusyu Area Promotion Div.

Vice President

Publicity Planning Div.
Members Support Div.

President Staﬀ

Internal Auditing Div.
BCP Planning Div.
Public Relations Div.

Joint
Management
Dept.

Management Planning Div.
Risk Management and Internal Control Div.
Legal Div.

I and I Service Ltd.
(Subsidiary Company)
Operation Dept.

University
Co-operative
Insurance Service
Co,Ltd.

Member Satisfaction Promotion Div.
Member Participation Promotion Div.

Standing Director
in charge ofdevelopment,
administration andjoint management

Development Management Div.
Product Development Div.

Development
Dept.

Actuarial Div.
Information Systems Div.
IT Planning Div.
Web System Development Div.
Security business Div.
Accounting Div.

Administrative
Dept.

Asset Management Div.
General Aﬀairs Div.
Human Resource and Planning Div.

Annual Report 2022

10

8

Types of
CO•OP Kyosai Products

Tasukeai

Ai-PlusThis insurance provides comprehensive coverage foroutpatient care due to accident, hospitalization, surgery,death, disability, death of families of the insured, anddamage to residences caused by ﬁre or other perils. It is
designed to meet the Co-op membersʼ demands forcoverage that is essential to their daily lives at a reasonablepremium.
There are four plans, plan for children, plan for women, planfor men, and plan with tolerant disclosureThis insurance simply provides coverage for death, which
can add special coverages for cancer, hospitalization, andsurgery of the insured. The maximum sum insured is ¥30
million in death beneﬁts at a reasonable premium. Added
coverage is available by combining Ai-Plus with Tasukeai.
The contract term is 10 years and the premium varies
according to the age and sex of the insured.
Coverage may be extended until the member reaches theage of 85.

Zutto-Ai

Ai-Plus Platinum 85

This insurance provides coverage for lifetime hospitalization,
surgery and death.
There are 2 types. One is a Whole Term Life Insurance which
covers lifetime death. The other is a Whole Term Medical
Insurance which covers lifetime hospitalization and surgery.

Platinum 85, launched in September 2017, is an insurance
product available for people aged 65 to 70, continuously
covering inpatient treatment and death until the age of 85.
Its coverage does not change from the time of contract to its
expiration. Optional coverage for medical operations anddeath can also be added as needed.

Term Life and Medical Insurance(Comprehensive Type)Long Term Life Insurance

Whole Term Life Insurance/
Whole Term Medical Insurance

CO-OP Student
Comprehensive
Mutual Insurance

New i.i.＊

Individual Long- term Life Insurance

Basic plan that provides coverage for death with the rebate
plan can be matched up with medical coverage and womenʼshealth coverage. The contract term is renewable after ﬁve
years with the option of a rebate after the ﬁve years. Coverage
may be extended until the member reaches the age of 80.

Insurance for university/college students and vocational
school students. Preparation not only for unexpected
medical expenses, but also for expenses necessary tocontinue their academic pursuits in case anything happens
to their guardians.

CO-OP
Fire Insurance＊

Automobile
Insurance＊＋
プラスして付けられます！

This insurance provides coverage against damaged
residences caused by a wide range of perils including ﬁre,lightning, explosion, aircraft or vehicle crashes into residences,windstorm and ﬂood, ﬂooding from a third party residence,
unexpected damages from a third party and earthquakes etc.

Reliable compensation to support a contractorʼs car life.

＊These products are aﬃliated with Kokumin Kyosai co-op (National Federation of Workers and Consumers Kyosai Cooperatives) (former Zenrosai).

Direct and Indirect Insurance Products OﬀeredCO•OP Kyosai oﬀers direct and indirect insurance products. In direct insurance contracts, CO•OP Kyosai as acontract underwriter is responsible for collecting insurance premiums and paying insurance beneﬁts. We oﬀer ﬁve
direct insurance products :CO•OP Kyosai Product Tasukeai, CO•OP Kyosai Product Ai-Plus, CO•OP Kyosai ProductZutto-Ai (Whole Term Life Insurance and Whole Term Medical Insurance )and CO-OP Student Comprehensive
Mutual Insurance.
CO•OP Kyosai also provides indirect insurance products in the areas beyond the coverage of its direct insurance
products, in alliance with Kokumin Kyosai co-op, property and casualty insurance ﬁrms, etc. In CO•OP Kyosai
contracts, each contract underwriter is individually responsible for insurance coverage according to the scope of its
underwriting, instead of sharing responsibility.

Annual Report 2022

11

9

Payment of Claims

Payment of Claims

Payment of claims, excluding that for CO-OP Fire Insurance, New i.i. and Private car mutual insurance is made byCO•OP Kyosai via member Co-ops or the CO•OP Kyosai Center (Payment of claims for CO-OP Fire Insurance, New
i.i. and Private car mutual insurance is made by Kokumin Kyosai co-op). Upon receiving a claim request, we checkthe contract details, ask the policyholder for details about the request and then send necessary materials. CO•OP
Kyosai values swift and eﬃcient payment procedures from the viewpoint of policyholders. For example, basic
information is printed on documents for claims in advance, and some procedures are simpliﬁed depending on theclaim detail and amount.
CO•OP Kyosai shortens the time from reception of a claim request to payment in order to enhance policyholderʼssatisfaction.
CO•OP Kyosai

Flow of ClaimsCenter (Call Center)

1 Reporting Occurrences
2 Sending out Documents for Claims
3 Sending out Documents for Claims
Policyholder(Beneﬁciary)

4 Payment and Sending out Notice of Payment*This ﬂowchart shows a case when a policyholder contacts Call Center.

CO•OP Kyosai(Depts. related to
Claim Payment)

Relief Money to Victims of Devastating Disasters

In CO•OP Kyosai plans, Tasukeai, Ai-Plus, Zutto-Ai and i.i. policyholders receive Relief Money in accordance with
the CO•OP Kyosai Regulations on Devastating Disaster Relief Money.
These regulations were made with the aim of providing a token of our sympathy to victims of devastating
disasters. CO･OP Kyosai oﬀers special assistance in accordance with the magnitude of natural disaster. In the eventof a devastating disaster, CO･OP Kyosai ensures a certain amount of payment swiftly so that it could alleviate aburden on a policyholder as much as possible.

Enclosing Origami Cranes with Documents for Claims

expanded nationwide. While many volunteers
currently participate in making origami cranes at
Co-ops around the country, some recipients of origami
cranes in turn send us origami cranes of their own
making, resulting in a growing circle of people
connected to each other with origami cranes.
Moreover, many respondents to the questionnaire
enclosed with the announcement of insurance beneﬁt
payment express their appreciation for origami cranes.
These activities have steadily contributed to spreading
the spirit of mutual help.

When sending claimants necessary documents forclaiming insurance beneﬁts, CO•OP Kyosai encloses
origami cranes made by Co-op members around thecountry. This activity originated around 1992, when a
Co-op staﬀ in charge of insurance in Nagano
Prefecture began to enclose origami cranes with such
documents to express their sympathy.
In the process of paying insurance beneﬁts or relief
money to victims of the Great Hanshin and Awaji
Earthquake in 1995, we enclosed origami cranes with
documents sent to them.
Since these origami cranes had received a favorable
reaction from many recipients, this activity was

Annual Report 2022

12

10 Management System
Governance Structure
CO•OP Kyosai s Governance StructurePart-time auditors

Memberco-opsRepresentatives

GeneralMeeting

Election/appointment ofauditors

Election/
appointment of directors
Part-time
directors

Board of Directors(Decision-making/supervision)

Selection ofrepresentative directors

Audit

Board ofAuditors

Audit

Representative
Directors(Execution of operations)

The Board of Directors is composed ofpermanent directors, directors originally fromindividual co-ops, and outside directors(professionals including researchers, lawyers, andco-op actuaries). Of these directors, the President
and the Managing Director serve as
representative directors. Execution of daily
operations is undertaken by the Board of
Permanent Directors. Board of Directors meetings
are held every other month. The Board ofAuditors is composed of a permanent auditor,
part-time auditors and two outside auditors(researcher and accountant).

The governance structure of CO•OP Kyosai iscomposed of the General Meeting, Board of
Directors and Board of Auditors. Being afederation, CO•OP Kyosai is basically a democraticbusiness model formed primarily by representatives of the member co-ops.
A General Meeting is held annually. Eachmember co-op has representatives commensurate with the size of their membership. To
complement the General Meetings, member
co-opsʼ views are gathered through the regional
CO•OP Kyosai management committees andregional block conferences across Japan.

Annual Report 2022

13

Risk Management System
In pursuing sound management of the mutual insurance business, CO•OP Kyosai makes
eﬀorts to identify risks and implement proper risk management.
Risks associated with the mutual insurance business include the following; Business risks,
Project development risks and Insurance underwriting risks, Asset management risks,
Liquidity risks, ALM risks, Oﬃce work risks and System risks, etc.
CO•OP Kyosai manages, monitors and controls the risks which we have. Each risk ismonitored or controlled by the responsible department.

Business Operations
Based on Policyholders' Feedbacks(1) Member Satisfaction Promotion Division receives complaints
and opinions by telephone

CO•OP Kyosai, when developing products and paying claims, is making improvements
based on policyholdersʼ feedbacks. In order to receive more feedbacks and reﬂect theopinions in our business, we established the consultation center in 2006, which is dedicatedto handling complains, opinions and requests.

Complaints we received at
Member Satisfaction Promotion Division in FY2021
We had 332,245 complaints andrequests in Fiscal 2021.
Viewing the opinions we received as representing the voice ofour policyholders, we are striving
to improve the problems.

Inquiries
122,549

36.9%

Requests
22,116

6.7%

Thanks180,828

54.4%
Complaints

6,752

2.0%

(2) Improvement eﬀorts resulting from complaints and opinions
we receive

We have introduced the management system to unify the management of complaints andopinions we receive so that related departments can share and swiftly resolve any issue. In
addition, we report all complaints and opinions to all departments once a week.

Annual Report 2022

14

11 Co-op Action Plan for SDGs
Co-op Action Planfor

We commit to the contribution to the achievement of the
Sustainable Development Goals (SDGs). Declared at the 68th Annual
General Assembly of Japanese Consumersʼ Co-operative Union.
We have been dedicating ourselves to the realization of a morehuman lifestyle and sustainable society under the “Ideal of Japanese
Consumer Co-ops Movement for the 21st Century”, adopted at the
JCCU Annual General Assembly in 1997.
The SDGs which aim to leave no one behind are consistent with ourphilosophy.
We declare that we will work both locally and internationally toachieve the SDGs through seven actions.

We will eliminate poverty and hunger from the world andpromote support for children.

We will expand health promotion and promote welfare services and mutual help.

We will promote gender equality
and create an inclusive society.

We will spread the use of renewable energy and promote Global
Warming Countermeasures.

We will participate in creating a society where
everyone can live with a sense of security.

We will promote activities toeliminate nuclear weapons andto achieve the world peace.

We will continue to review and improve our
products and lifestyle for a sustainable production and consumption.

Annual Report 2022

15

12 Activities
Life-Planning Activities
Life-Planning activities enable Co-op members to learn about money
matters in their lives. In the Workshops on Reviewing Insurance, which
is a central topic, members gain the capability to independently selectinsurance product that meets their needs.
As an integral part of Life-Planning activities, CO•OP Kyosai is training
members and Co-op staﬀ to be Life-Plan-Advisor (LPA). Participants of
LPA courses learn about life planning, insurance, taxation and ﬁnancein comprehensive lectures held by CO•OP Kyosai in order to become
LPA. As of March 20, 2022, 4,871 people have completed the LPA
courses and 1,785 LPAs are active at member Co-ops across Japan.
Life-Planning activities have now become ﬁrmly established as Co-op
activities. These activities includes Lecture, Workshop, Workshop forchildren, Learning activity, individual consulting, “Senryu”Project, andothers. In ﬁscal 2021, more than 24,289 people in total participated in
the activities, principally in Workshops on Reviewing Insurance. Due tothe spread of Covid-19, some of these activities were held online.

Grants to Promote Mutual Support in Communities
The Grants to Promote Mutual Support in Communities is a grant for practical activities carried out incollaboration between co-ops and organizations other than co-ops toward the realization of a communitybased inclusive society. The subsidy started in FY2012 and celebrated its 10th anniversary in FY2022.
CO-OPs realizes better lives by listening to the voices of CO-OP members, sympathizing with them, and taking
action with them. Having this background, the CO-OP has great power to solve local issues and contribute to
local development by collaborating and cooperatingwith various organizations. Furthermore, we believethat we can contribute to the realization of a “symbiotic
society in a community.” By sharing thoughts among
diﬀerent organizations and collaborating together
while making the most of respective strengths, we canproduce better results that cannot be achieved
individually.
In FY2021, we subsidized 34 organizations for 21.14
million yen after conducting the examination.

Health Improvement Activities
A fundamental challenge for CO•OP Kyosai activities is the improvement of the health and welfare ofpeople. In order to assist members and policyholders to improve their health, CO•OP Kyosai has installed
automatic blood pressure measuring devices at Co-op stores and oﬀers free health consultations by phone.

Annual Report 202216

(1) Automatic Blood Pressure Measuring Devices Installed

CO•OP Kyosai has installed 319 automatic blood pressure measuring devices at Co-op storesthroughout Japan. Since managing blood pressure is paramount for preventing all lifestyle-relateddiseases, it is essential to consistently measure blood pressure on a daily basis. The devices are easy
for members to use to test their blood pressure level while shopping and utilized for them to manage
their health on a daily basis.

(2) CO•OP Kyosai Health Call Center

CO•OP Kyosai oﬀers a free phone consultation service madeavailable to Tasukeai, Ai-Plus, Zutto-Ai and New i.i. policyholders.
CO•OP Kyosai contracts specialist counsellors including doctors
and nurses from governmental corporation to give advice on
health, treatment and care-giving as well as instruction on whichmedial facility to use.
During Fiscal 2021, the call center ﬁelded 27,046 calls for advice.

(3) Support Project for Health Promotion

CO•OP Kyosai started its CO•OP Kyosai Support Project for Health Promotion in Fiscal 2017. As we
confront an aging population, it is crucial to build local communities where healthy seniors can fully
realize their potential. We therefore started supporting member Co-ops to implement health promotion
activities catered mainly to their middle-aged and older members.
Using the policyholdersʼ contribution generated byaccumulating a part of the annual surplus from ourmutual insurance business, we execute the projectwith the aim of contributing to our policyholders,beneﬁtting our mutual insurance business, anddemonstrating our comprehensive capacity toaddress social challenges. Under the themes of foodlife, physical exercises and social participation, ourmember Co-ops are implementing diverse eﬀorts inview of their local circumstances by cooperating withother organizations.
In Fiscal 2021, we extended ﬁnancial support
totalling 122million yen for 43 Co-ops, 45 activities.

Donation of School Bag covers
Since Fiscal 2015, as part of its social contribution activities, CO•OP
Kyosai has been donating covers for school bags (leather backpacks) to
new ﬁrst graders at elementary schools across Japan in cooperation withlocal municipalities.
In Fiscal 2021, we donated a total of 307,137 covers to children newly
enrolled in 5,933 elementary schools nationwide. To schools where
pupils use nylon backpacks, we donated plastic holders forteacher-parents correspondence notepads (128,841 holders to 1,555 schools nationwide).
The yellow school bag cover featuring an illustration of Co-suke, CO•OP Kyosaiʼs oﬃcial bear character, iseye-catching and makes it easier to spot children from afar. The covers help local communities watch over theirchildren and prevent traﬃc accidents.

Annual Report 2022

17

International Relations
CO•OP Kyosai engages in initiatives to promote co-op activities in partnership with co-ops andmutual aid organizations overseas.

International Co-operative Alliance (ICA)ICA is an international organization founded in 1985 by co-ops around the world. For the purpose of
spreading the cooperative movement across the globe, disseminating the values and principles ofco-ops, promoting international collaboration among co-ops, and contributing to world peace andsafety, ICA makes recommendations to international organizations, endeavors to have its opinions
reﬂected, hosts global conferences, and disseminates information. It is the worldʼs largest
non-governmental organization (NGO), representing more than one billion members. CO•OP Kyosaijoined ICA in 2017.

International Co-operative Mutual
Insurance Federation (ICMIF)

Asia and Oceania
Association of ICMIF (AOA)

One of ICAʼs specialty organizations, ICMIF wasestablished to support the global developmentof cooperative/mutual insurance movements.
CO•OP Kyosai joined ICMIF on March 21, 2009.

Established in 1984 as one of the regional
associations of ICMIF, AOA supports thedevelopment of cooperative/mutual insurance
movements in the Asia and Oceania region.

Partnerships with International Organizations
CO-OP Kyosai cooperates and collaborates with co-ops and mutual aid organizations overseas in arange of initiatives including supporting developing countries. In ﬁscal 2021, although no eventswere held in person due to the spread of COVID-19, we actively engaged with our partners online.

Online Participation in ICA World Cooperative Congress in Seoul

In December 2021, the International Cooperative Alliance (ICA)
held its World Cooperative Congress in celebration of its 125th
anniversary. CO-OP Kyosaiʼs 11 younger staﬀ members
participated online, joining a total of 1,570 attendees whogathered in-person and online from around the world to takepart in this hybrid congress.
CO-OP Kyosai attendees took part in each session held under the main theme, “Deepening our
Cooperative Identity,” and shared their own views and thoughts between them.

AOA Webinar Toward better future by addressing social challenges

At the webinar hosted by AOA of ICMIF in March 2022 under thetheme, “Towards a better future by addressing social challenges,”
Miki Tanaka, Manager of the Member Participation Promotion
Division, CO-OP Kyosai, presented a speech titled, “We Value thePower of Connections̶Aiming to create communities where
people can stay healthy and happy.” She shared a range of initiatives
undertaken by CO-OP Kyosai, including disaster relief, the Pink
Ribbon Campaign, support for para skiing, life-planning activities, and Grants to Promote Mutual
Support in Communities. Reports were also presented by representatives from Indiaʼs National
Insurance VimoSEWA Cooperative and the Kasagana-ka Mutual Beneﬁt Association of the Philippines.

Annual Report 202218

13 Balance Sheet
JPY¥ Millions

Fiscal 2020 and 2021

＊1

USD
＄Thousands＊2

AssetsCash and deposits
Money trust
Securities
Reinsurance accountBusiness consignment accountContract account
Other mutual insurance assets
Prepaid expenses
Accured income
Other assets
Fixed assets for business use
Investment in afﬁliates etc.
Differed tax assets
Differed assets

2020¥94,806¥132,956¥225,458¥151¥7,612
¥306
¥186
¥67
¥166
¥2,512¥10,506¥331¥17,883−2021¥81,858¥143,578¥255,488¥145¥7,764
¥355
¥196
¥44
¥158
¥2,986¥11,602¥332¥18,921−2021＄689,678$1,209,689$2,152,565$1,221$65,414$2,990$1,651$370$1,331$25,157$97,750$2,797$159,415−

Total assets¥492,945¥523,434＄4,410,093

Liabilities

Policy reserves
Reinsurance accountBusiness consignment accountContract account
Other mutual insurance liabilities
Accrued expenses
Other liabilities
Allowance
Price ﬂuctuation reserves

2020¥306,166¥250¥4,416¥0¥27¥2,687¥7,933¥1,873¥6,0102021¥330,820¥270¥4,387¥0¥432¥3,484¥5,787¥1,994¥6,5692021＄2,787,260$2,274$36,961$0$3,639$29,353$48,757$16,800$55,345

Total liabilities¥329,369¥353,748＄2,980,436

Net assets
Member capital
Others2020¥161,251¥2,3252021¥168,465¥1,2202021＄1,419,369＄10,278

Total net assets¥163,576¥169,686＄1,429,657

Total liabilities and net assets¥492,945¥523,434＄4,410,093＊1. Yen amounts are rounded down to the nearest ¥1 million.

＊2. U.S. dollar amounts are converted, for convenience only, at ¥118.69=US $1.00 (as of March 18,2022)
and rounded down to the nearest $1 thousand.

Annual Report 2022

19

14 Income Statement
JPY¥ Millions

Fiscal 2020 and 2021
Ordinary Income＊1

USD＄Thousands

＊2

2020

2021

2021

Premium and other income
Reversal of policy reserves
Investment income
Other ordinary income¥201,987¥33,485¥2,457¥521¥207,359¥34,300¥2,320¥678＄1,747,063＄288,988＄19,546＄5,712

Total ordinary income¥238,452¥244,658＄2,061,319

Ordinary Expenses

Claims paid
Provision of policy reserves
Investment expenses
Business expenses
Other ordinary expenses

2020¥103,191¥21,656¥213¥59,265¥251

2021¥110,327¥26,725¥292¥62,856¥268

2021＄929,539＄225,166＄2,460＄529,581＄2,257

Total ordinary expenses¥184,579¥200,470＄1,689,021

Ordinary Surplus¥53,873¥44,188＄372,297

Extraordinary Income or Loss

2020−
¥1,222¥52,650¥6,277¥-1,240¥35,762¥11,851
¥489

2021
−
¥643
¥43,544¥3,955¥-610¥32,229¥7,971¥599

2021−＄5,417＄366,871＄33,322＄-5,139＄271,539＄67,158＄5,046

¥4

¥30

＄252

¥315

¥847

＄7,136¥177¥167＄1,407¥12,838¥9,617＄81,026

Extraordinary income
Extraordinary loss
Surplus before taxes
Income taxes
Income taxes-deffered
Provision of rebate reserves
Net surplus
Net surplus for the period
Reversal of reserve forcatastrophe solatium
Reversal of reserve forofﬁce system maintenance
Reversal of subscriber contribution
Unappropriated surplus
for the period＊1. Yen amounts are rounded down to the nearest ¥1 million.

＊2. U.S. dollar amounts are converted, for convenience only, at ¥118.69=US $1.00 (as of March 18,2022)
and rounded down to the nearest $1 thousand.

Annual Report 2022

20

15 Management Index
JPY¥ Millions

Fiscal 2020 and 2021
Solvency Margin Ratio

2020¥232,197¥30,170

Total solvency margin ①
Total risks ②

USD＄Thousands

＊1

2021
¥241,370¥30,424＊2

2021＄2,033,616＄256,331

Solvency margin ratio= ①÷
（②×1/2）×100

1539.2%

Breakdown of Basic Proﬁt

2020

2021

2021

Basic proﬁt¥58,363¥45,602＄384,210

Investment proﬁt
Risk proﬁt
Expense proﬁt¥546¥51,491¥6,324¥214¥36,743¥8,644＄1,803＄309,571＄72,828

Equity Capital Ratio
Equity capital ①

2020

2021

2021
＄1,429,657

Contingency reserves ②
Revised equity capital = ① + ②
Total assets ③
Equity capital ratio = ① / ③

33.2%¥169,686＄494,077¥58,642＄1,923,734¥228,328＄4,410,093¥523,434
32.4%

44.8%

43.6%

¥163,576¥57,236¥220,813¥492,945

Revised equity capital ratio

1586.7%＊1. Yen Amounts are rounded down to the nearest ¥1 million.
＊2. U.S. dollar amounts are converted, for convenience only, at ¥118.69=US $1.00 (as of March 18,2022) and rounded down to thenearest $1 thousand.
＊3. The solvency margin ratio of CO•OP Kyosai is calculated based on the Consumer Cooperatives Act as determined by the
Ministry of Health, Labor and Welfare.
Therefore, it is incommensurable with the solvency margin ratio of life insurance companies and nonlife insurance companies.
According to the Ministry of Health, Labor and Welfare, the rate needs more than 200%.
＊4. The total solvency margin is limited to what can be divided in the CO•OP Kyosai business.
＊5. Deﬁnitions are as follows:
Investment proﬁt : Diﬀerential between the projected investment return (expected yield) and the actual investment return.
Mortality proﬁt : Diﬀerential between the projected insurance payment (expected mortality rate) and actual claims for payment.
Expense proﬁt : Diﬀerential between the projected operational expenses (projected operational expense ratio) and actual
operation expenses.
＊6 Basic proﬁt is calculated by excluding capital gain/loss, such as sales gain or loss on marketable securities, and extraordinary
gain/loss, such as provision for contingency reserves, from recurring surplus. It is the index that shows the basic period income
generated from the mutual aid business.
＊7. Equity capital ratio = Equity capital ÷ Total assets＊8. Revised equity capital ratio = Revise equity capital ÷ Total assets

Annual Report 2022

21

Proﬁle of CO•OP Kyosai (Former JCIF)
NameJapan CO-OP Insurance (Kyosai) Consumers' Co-operative Federation
Former: Japan CO-OP Insurance Consumers' Co-operative Federation

Abbreviation
CO•OP Kyosai

Head oﬃce

4-1-13 Sendagaya, Shibuya-ku, Tokyo 151-0051, JAPAN

Established

November 5, 2008

Number of Member Co-ops
153 (as of March 20, 2022)

Detail of operations

CO•OP Kyosai (mutual Insurance) Business

CO•OP Kyosai is the Federation Specializing
in Mutual Insurance Businesses

Japan CO-OP Insurance (Kyosai) Consumers' Co-operative Federation was established in
November 5, 2008.
Up until 2008, the JCCU and member co-ops were engaged in not only mutual insurance
business, but also retail business such as operating stores and providing home delivery services.
To avoid conﬂict with the newly revised Co-op Law in 2008, it was decided to jointly establish a
new organization, CO•OP Kyosai, to specialize in providing mutual insurance products.
In 2021, CO•OP Kyosai has changed its English name, Japan CO-OP Insurance (Kyosai)
Consumers' Co-operative Federation from Japan CO-OP Insurance Consumers' Co-operative
Federation. Abbreviation was also changed at the same time, as "CO•OP Kyosai", from JCIF. Ourorganization decided to use the Japanese word "Kyosai" in our English name, which means
mutual aid and especially helping each other, for introducing unique idea of "Kyosai"
internationally.

2022

Year Ended March 20, 2022

CO•OP Kyosai oﬃcial character Co-suke,
which is loved by CO-OP members nationwide,celebrated 10th anniversary in 2022!

Japan CO-OP Insurance (Kyosai)
Consumers' Co-operative Federation
4-1-13 Sendagaya, Shibuya-ku,
Tokyo 151-0051, JAPANTEL : +81-3-6836-1320
FAX: +81-3-6836-1321
https://coopkyosai.coop