Year Ended March 20, 2019

ANNUALREPORT2019

Japan CO-OP Insurance Consumers' Co-operative Federation

Year Ended March 20, 2019

ANNUALREPORT2019

Expand thecircle of "Tasukeai"
to everybody
What we cherish is the heart of mutual cooperation
when someone in trouble (=Tasukeai).
We will continue to expand
the circle of “Tasukeai” so thatmany people can be supported.

CONTENTS
1.

Visions of CO-OP Insurance…………………………………… 01

2.

Message from the President…………………………………… 02

3.

Topics of FY2018 ……………………………………………… 03

4.

Financial Highlights …………………………………………… 04

5.

Business Overview of CO-OP Insurance for Fiscal 2018 …… 05

6.

Outline of JCIF ………………………………………………… 07

7.

Types of CO-OP Insurance …………………………………… 09

8.

Payment of Claims……………………………………………… 10

9.

Management System…………………………………………… 1 1

10.

Activities………………………………………………………… 13

11.

Balance Sheet…………………………………………………… 16

12.

Income Statement……………………………………………… 17

13.

Solvency Margin Ratio and Others …………………………… 18

The official name of our organization isJapan CO-OP Insurance Consumers' Co-operative Federation,commonly abbreviated as JCIF.
Year Ended March 20, 2019

1. Visions of
CO-OP Insurance
Through CO-OP Insurance and the mutual assistance of CO-OP members, we areaiming to help improve livelihoods of members, develop consumer co-operatives,promote the cooperative movement and enrich our society, focusing on covering
economic loss caused by various risks in members’ livelihoods.

2

1
We will offer insurance products

We will promote communicationthat suit members’ needs with

between members and CO-OP

more reasonable premiums andemployees, and encourage a spirit

better coverage.

of mutual aid among members.

3
We w i l l e n h a n c e t h e s o c i a lc re d i b i l i t y o f c o n s u m e r c o operatives by the stable andefficient management of theinsurance and the expansion of
the insured.

5
4

We will strive to address the
problems of aging population

We w i l l o f fe r m e m b e r s t h ewith declining birthrate, healthopportunity to learn about

and welfare, and contribute toinsurance and help them acquiresociety by social welfare activities,

the ability to select the insurance

disaster activities and others.

that suits them most.

Annual Report 2019 01

2. Message from the President
Japan was hit by a range of disasters last year, including the earthquake centered on northern Osaka in June 2018,
the torrential rain in western Japan in July, the Hokkaido Eastern Iburi Earthquake in September, and a number ofsevere typhoons. I extend my sincere condolences to those affected by the disasters and pray that the deceased
may rest in peace. We have paid visits to our policyholders affected by the disasters as a way to convey the spiritof mutual aid extended by policyholders nationwide, and have devoted our efforts to pay out insurance benefits
and disaster relief money to them in a prompt and fair manner. We would like to express our deepest gratitude andrespect to everyone who kindly provided us with support.
Let me outline our business conditions in fiscal 2018, by the end of which the number of policyholders for seven
CO-OP Insurance products exceeded 8.8 million. During the fiscal year, we paid out a total of 67.3 billion yen in
insurance benefits (102.7% of the previous fiscal year) to 1.35 million insurance claimants. Platinum 85 launched in2017 was redesigned in September 2018 to make available the optional coverage of advanced medical treatment.
We have been receiving much positive feedback from policyholders of this insurance product for people aged 65
and above on how pleased they were to be able to maintain their coverage despite their age.
Furthermore, during fiscal 2018, the final year of the three-year CO-OP Insurance Medium-term Business Plan
2018, we steadily executed our business plan, while discussing our next three-year plan to be implemented from2020 along with our action plans for 2019, as well as looking ahead to the formulation of our CO-OP InsuranceLong-term Vision 2030. In addition, under our Health Improvement Support Project commenced in 2017, we
provided a total of 240 million yen to support health promotion activities undertaken by 45 co-ops (49 programs)
in fiscal 2017 and 2018 combined. With the aim of helping CO-OP Insurance policyholders and co-op members
promote their health and fitness, we will continue making efforts to spread this health promotion scheme acrossconsumer co-operatives nationwide.
In fiscal 2019, we intend to further our deliberation on our Long-term Vision 2030. Lively discussions will be heldon the CO-OP Insurance Medium-term Business Plan 2022, which will translate the long-term vision into concreteterms, and toward a resolution at the fiscal 2020 annual conference.
This annual report mainly covers our business conditions for CO-OP Insurance in fiscal 2018. I hope that thisreport will help you deepen your understanding of our business and CO-OP Insurance products.
We are determined to continue making concerted efforts to ensurethat our member households enjoy safe and secure lives throughour operations by tackling various issues in close cooperation withmember co-ops nationwide.
We appreciate your continued understanding and support for COOP Insurance.

Toshiaki Wada

President
Japan CO-OP Insurance Consumers’
Co-operative Federation (JCIF)
02 Annual Report 2019

3. Topics of FY2018
Optional coverage of advanced medical treatment now available in Platinum 85
In response to Tasukeai policyholders’ demand for optional
coverage of advanced medical treatment after expiration atage 65, we made the optional coverage available for Platinum

85 , which we recommend as a replacement for Tasukeai whenpolicyholders reach 65.

Co-sponsoring para-Nordic ski World Cup
JCIF supported the 2019 World Para Nordic Skiing World Cup Sapporo held from March 12 through17, 2019 as a title sponsor.
The Japanese Consumers’ Co-operative Union (JCCU) has been sponsoring the Para Nordic
Skiing Japan Team since 2006 with co-ops nationwide. Inspired by their support, we joined in thesponsorship this year.
The competition attracted 61 skiers from 13 countries, who displayed outstanding technique andgave robust performances, delivering both dreams and inspiration. Through our sponsorship, we hopeto help create local communities where everyone can live with peace of mind and achieve an inclusive
society.

Annual Report 2019 03

4. Financial Highlights
JPY
Million ※ 1

Fiscal 2017 and 2018

USD
Million ※ 2

2017

2018

2018

Ordinary income¥219,660¥225,541$2,020Ordinary expenses¥170,417¥177,797$1,592

Ordinary surplus¥49,243¥47,743$427

Net surplus¥10,224¥8,766$78

Total assets¥389,773¥421,662$3,776

Total liabilities¥255,320¥279,457$2,502

Total capital¥134,452¥142,205$1,273

Number of policies total

8,675,084

8,801,512-

Number of policies (JCIF products only)

8,248,177

8,374,294-

Total amount of insurance in force(JCIF products total)¥122,99¥124,36

Solvency margin

1299.7%1367.3%(billion)$1,11(billion)(billion)-※ 1. Yen amounts are rounded down to the nearest ¥1 million.
※ 2. U.S. dollar amounts are converted, for convenience only, at ¥111.65=US$1.00 (as of March 20, 2019)and rounded down to the nearest $1 million.

Numbers of total policies

Total amount of insurance in force(JCIF products total)(thousand people)(¥ billion)

10000

8000

8,236

15000
8,379

8,521

8,675

8,801
11,96712000 11,509 11,744

6000

9000

4000

6000

2000

3000

0

04 Annual Report 2019

2014

2015

2016

2017

2018

(Fiscal year)

0

2014

2015

2016

12,299 12,436

2017

2018

(Fiscal year)5. Business Overview

of CO-OP Insurance for Fiscal 2018
■ Changes in the Number of Policyholders
In 1984, CO-OP Insurance Tasukeai 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 term life insurance
named i.-Plus in 2000 and whole life insurance named Zutto-i. in 2011. As a result of these efforts, the numberof policyholders in JCIF products who contract with us reached 8.37 million in March 2019. The spirit of mutual
cooperation for supporting each other’s future has been carried on without change since the launch of CO-OP
Insurance.
(million people)

CO - O P I n s u ra n c e h a s h e l p e dmembersʼ livelihoods step bystep through cooperation among
members.

7.53 7.66

7.79

8.24
7.94 8.09

8.37

6.99
6.26
4.89

5.38

4.01

2.05
1.09
0

2.35

2.77

3.27

1.47

0.13

1984 1990 1994 1995 1997 1998 1999 2000 2002 2004 2005 2007 2010 2012 2013 2014 2015 2016 2017 2018
(Fiscal year)

Overview of the ﬁnancial resultsof the CO-OP Insurance business is as follows:■

Policyholders as of the end of Fiscal 2018 totaled 8.8 million

When broken down by product, Tasukeai policyholders increased by 308 from the previous year to 5,916,575, i.-Plus
policyholders increased by 71,506 to 1,905,249, Zutto-i. policyholders increased by 54,303 from the previous year to552,470, CO-OP Fire Insurance policyholders increased by 1,519 to 402,372, and CO-OP Life Insurancenew-i.i. policyholders
decreased by 1,208 to 24,846. Total number of policyholders reached 8,801,512 by the end of fiscal year of 2018.
■

Policies in force totaled ¥12.43 trillion

CO-OP Insurance has a total of ¥12.43 trillion inpolicies in force ( JCIF products only), an increase of
1.1% from the previous year.
■

1.35 million payments made

CO-OP Insurance made a total of 1.35 million
payments (JCIF products only), an increase of 2.0%
from the previous year.

■

Premiums totaled ¥192.3 billion

CO-OP Insurance has a total of ¥192.3 billion inpremiums (JCIF products only), an increase of 2.7%
from the previous year.
■

Total claims paid amount to ¥67.3 billion

CO-OP Insurance paid a total of ¥67.3 billion for
insurance claims (JCIF products only), an increase of
2.7% from the previous year.
Annual Report 2019 05

■ Asset Management
JPY
Million ※ 1

Investment Assets

USD
Million ※ 2

Fiscal Year

2017

2018

Composition
ratio(%)

2018

Cash and time deposits¥121,761¥132,718

34.3%$1,188,696

Money trust ※3¥55,647¥55,96614.5%$501,262

Negotiable deposit¥29,000¥41,000

10.6%$367,218

Public and corporate bond

¥150,703¥157,226

40.6%$1,408,204

¥255

¥255

0.1%

$2,283Foreign bond

0

0

0.0%

0

Other securities

0

0

0.0%

0

¥357,367¥387,166

100.0%$3,467,675

Stocks

Total

・Foreign bond・Other securities

0.0%

Stocks 0.1%

Cash and time
deposits

Public andcorporate bond

34.3%

40.6%

Negotiable
deposit

Money
trust

10.6%

14.5%

※ 1. Yen amounts are rounded down to the nearest ¥1 million.
※ 2. U.S. dollar amounts are converted, for convenience only, at ¥111.65=US$1.00 (as of March 20, 2019)and rounded down to the nearest $1 million.
※ 3. Money held in trust are transferable warranty deposits.

■ CO-OP Insurance Business Overview by ProductTasukeai(Fiscal year)2016

5,899,057

2017

5,916,267

Fiscal Year
Number of Policies

2017

2018

5,916,267 5,916,575

Premium lncome(¥millions) ¥106,223 ¥107,023

5,916,575

2018

i.-Plus

Claims Paid(¥millions)¥42,413¥42,628

Zutto-i.

(Fiscal year)2016

1,755,819(Fiscal year)
2016

2017

1,833743

2017

2018

1,905,249

2018

Fiscal Year
Number of Policies

2017

2018

440,252
498,167
552,470
Fiscal Year

1,833,743 1905,249

2017

2018

Number of Policies

498,167

552,470

Premium lncome(¥millions)¥58,912¥61,736

Premium lncome(¥millions)¥20,954¥22,271

Claims Paid(¥millions)¥20,093¥21,250

Claims Paid(¥millions)¥3,058¥3,472

New i.i.
(Fiscal year)
2016

2017
2018

06 Annual Report 2019

CO-OP Fire Insurance
27,20826,054
24,846(Fiscal year)2016

399,5312017

400,8532018

402,372

6. Outline of JCIF
■ 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 and participate in the decisionmaking and management of the organization with the aim of achieving a better life.
Co-ops engage in a wide range of activities including supplying merchandise through delivery
and at stores; offering mutual aid, medical care, and welfare services; hosting mutual support
programs among members; and providing educational programs on everyday life.

■ JCIF, Co-op and JCCU
Our organization is a federation of 153 consumer cooperative societies from across the nation. Although each member
Co-op is an independent legal entity, each provides CO-OP insurance to its members in cooperation with the federation.
The JCIF was established to take over and specialize in all mutual insurance businesses previously conducted by ourmember Co-ops.
Co-op members
Member co-ops
Regional Co-ops, Co-op Associations etc.
Supplying products, promoting and supporting social activities etc.
JCIF Japan CO-OP Insurance Consumersʼ
Co-operative Federation● CO-OP Insurance business● Promotion of Life-Planning Activities

JCCU Japanese Consumersʼ Co-operative Union● Product Business: Development and Distribution● Catalog business● Welfare, Environment, Reconstruction from disaster,

Support for member co-ops● Social Roles as a Consumers’ Organization■ Roles of Member Co-ops and JCIFThe JCIF works to enhance our relationship withmember Co-ops by fulfilling the requirementsof our specified role and acting cooperatively toachieve our common goals.

Member Co-op

Co-op members, Policyholders
Window for thesubscription
procedure

Member
Co-opsContract of
CO-OP
Insurance

Cooperative
business

JCIF”Window for CO-OP Insurance”
The main business of member Co-ops of JCIF is retail (providing home delivery service and operating store). Each member
Co-op acts as a service window for the subscription procedure and also provides information on CO-OP Insurance. In
addition, each member Co-op works to support its members by offering insurance products responding to a range of needs.

JCIF (Japan CO-OP Insurance Consumersʼ Co-operative Federation)“The JCIF developing products in response to the needs of its members and others”
As well as developing insurance products, the federation 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 dual role as member Co-op and federation of CO-OP Insurance.
Annual Report 2019 07

Structure of JCIF (as of 17th of June, 2019)
Public Relation Div.
Executive
Ofﬁcerin charge ofplanning

Management Planning Div.
Joint
Management
Dept.

Organizational Operation Div.
Risk Management and Internal Control Div.
Legal Div.
Member Satisfaction Promotion Div.
Policy Administration Planning Div.

Executive
Ofﬁcerin charge of
operation

Policy Administration Div.
Claims Planning Div.
Operation
Dept.

Board ofAuditors

Claims Handling 1st Div.
Claims Handling 2nd Div.
Call Center Management Div.
Development Management Div.
Product Development Div.
Actuarial Div.

Development
Dept.

Managing
Director

President

Vice
President

Information Systems Div.
IT Planning Div.

Standing
Directorin charge ofdevelopment andadministration

Web System Development Div.
Security Business Div.
Accounting Div.
Administrative
Dept.

Assistant Managing
Director

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

Internal
Auditing Div.

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

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

Iwate Promotion Div.
Standing
Directorin charge ofpromotion

Sales
Promotion
Dept.

Hokkaido and Tohoku Area Promotion Div.
Central Area Promotion Div.
Kansai Area Promotion Div.
Chusikoku Area Promotion Div.
Kyusyu Area Promotion Div.
Publicity Planning Div.
Members Support Div.

08 Annual Report 2019

7. Types of CO-OP Insurance
CO-OP Insurance

CO-OP Insurance

Medical Insurance

Term Life Insurance

TasukeaiThis insurance provides comprehensive coverage foroutpatient care due to accident, hospitalization, surgery,death, disability, members’ death of the insured, anddamage to residences caused by fire or other perils.
It is designed to meet the Co-op members’ demands
for coverage that is essential to their daily lives at areasonable premium.
There are four plans; plan for children, plan for women,plan for medical coverage and plan for both medical anddeath coverage.

CO-OP Insurance

Zutto-i.

Whole Life InsuranceThis insurance provides coverage for lifetime
hospitalization, surgery and death.
There are 2 types. One is a whole life insurance which
covers lifetime death. The other is a whole medical
insurance which covers lifetime hospitalization andsurgery.

i.-PlusThis 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 i.-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
the age of 85.

i.-Plus Platinum 85
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 fromthe time of contract to its expiration. Optional coveragefor medical operations and death can also be added asneeded.

CO-OP Life Insurance

New i.i.
CO-OP Fire InsuranceThis 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 damaged from a third party
and earthquakes etc.

Life Insurance
Basic plan that provides coverage for death with therebate plan can be matched up with medical coverage
and women’s health coverage. The contract term isrenewable after five years with the option of a rebate
after the five years. Coverage may be extended until themember reaches the age of 80.

Direct and Indirect Insurance
Products Offered
CO-OP Insurance offers direct and indirect insurance products. In direct insurance contracts, JCIF as a contract
underwriter is responsible for collecting insurance premiums and paying insurance benefits. We offer four direct
insurance products :CO-OP Insurance Tasukeai , CO-OP Insurance i.-Plus , and CO-OP Insurance Zutto-i. (Whole Life
Insurance and Whole life Medical Insurance).
CO-OP Insurance also provides indirect insurance products in the areas beyond the coverage of its direct insurance
products, in alliance with Kokumin Kyosai co-op ※ 1, property and casualty insurance firms, etc.
※1. In CO-OP Insurance contracts, each contract underwriter is individually responsible for insurance coverage
according to the scope of its underwriting, instead of sharing responsibility.

Annual Report 2019 09

8. Payment of Claims
Payment of Claims
Payment of claims, excluding that for CO-OP Fire Insurance , is made by JCIF via member Co-ops or the CO-OP
Insurance Center (Payment of claims for CO-OP Fire Insurance is made by Kokumin Kyosai co-op). Upon receivinga claim request, we check the contract details, ask the policyholder for details about the request and then sendnecessary materials. CO-OP Insurance values swift and efficient payment procedures from the viewpoint ofpolicyholders. For example, basic information is printed on documents for claims in advance, and some procedures
are simplified depending on the claim detail and amount.
CO-OP Insurance shortens the time from reception of a claim request to payment in order to enhance
policyholder’s satisfaction.

7. Types of CO-OP Insurance
Flow of Claims

Policyholder(Beneﬁciary)

CO-OP
Insurance
Center(CallCenter)1
2 <<< Sending out Documents for Claims
Sending out Documents for Claims >>>3
4 <<< Payment and Sending out Notice of Payment
Reporting Occurrences

>>>

JCIF
(Depts. related
to Claim
Payment)*This ﬂowchart shows a case when a policyholder contacts Call Center.

Relief Money to Victims ofDevastating Disasters
In the CO-OP Insurance plans, Tasukeai ,i.-Plus , Zutto-i . and i.i. policyholders
receive Relief Money in accordance with
the CO-OP Insurance Regulations on
Devastating Disaster Relief Money.
These regulations were made with theaim of providing a token of our sympathy
to victims of devastating disasters. COOP Insurance offers special assistancein accordance with the magnitudeof natural disaster. In the event of adevastating disaster, JCIF ensures acertain amount of payment swiftly sothat it could alleviate a burden on apolicyholder as much as possible.

10 Annual Report 2019

Enclosing Origami Cranes with
Documents for Claims
When sending claimants necessary documents for claiming
insurance benefits, CO-OP Insurance encloses origami cranes
made by Co-op members around the country. This activity
originated around 1992, when 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 tovictims of the Great Hanshin and Awaji Earthquake in 1995, we
enclosed origami cranes with documents sent to them.
Since these origami cranes with a favorable reaction from many
recipients, this activity was expanded nationwide. While many
volunteers currently participate in making origami cranes at Coops around the country, some recipients of origami cranes inturn 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.

9. Management System

Governance Structure■ JCIFʼs 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 governance structure of JCIF is composed of the General Meeting, Board of Directors and Board ofAuditors. Being a federation of 153 member co-ops (regional co-ops, the Japanese Consumers’ Co-operative
Union, and the National Federation of Workers and Consumers Insurance Co-operatives [Kokumin Kyosai coop]), JCIF is basically a democratic business model formed primarily by representatives of the member co-ops.
A General Meeting is held annually. Each member co-op has representatives commensurate with the sizeof their membership. To complement the General Meetings, member co-ops’ views are gathered through theregional co-op insurance management committees and regional block conferences in the five regional areas
across Japan. The Board of Directors is composed of permanent directors, directors originally from individual coops, and outside directors (professionals including researchers, lawyers, and co-op actuaries). Of these directors,
the President and the Managing Director serve as representative directors. Execution of daily operations isundertaken by the Board of Permanent Directors. Board of Directors meetings are held every other month. The
Board of Auditors is composed of a permanent auditor, part-time auditors and two outside auditors (researcher
and accountant).
Annual Report 2019 11

Risk Management System
In pursuing sound management of the mutual insurance business, JCIF makes efforts to identify risks andimplement 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.
JCIF manages, monitors and controls the risks which we have. Each risk is monitored 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 Insurance, when developing products and paying claims, is making improvements based onpolicyholders’ feedbacks. In order to receive more feedbacks and reflect the opinions in our business, weestablished the consultation center in 2006, which is dedicated to handling complains, opinions and requests.

Complaints we received at Member
Satisfaction Promotion Division in FY2018
We had 201,727 complaints and requests in
Fiscal 2018.
Vi ew i n g t h e o p i n i o n s we re ce i ve d a s

Inquiries
82,467
41%

Thanks97,12248%

representing the voice of our policyholders, weare striving to improve the problems.
Requests
16,5308%Complaints
5,608
3%

(2) Improvement efforts resulting from complaints and opinions we receive
We have introduced the management system to unify the management of complaints and opinions we
receive so that related departments can share and swiftly resolve any issues. In addition, we report allcomplaints and opinions to all departments once a week.

12 Annual Report 2019

10. Activities
Life-Planning Activities
Life-Planning activities enable Co-op members to learn about money matters in theirlives. In the Workshops on Reviewing Insurance, which is a central topic, members gain thecapability to independently select insurance product that meets their needs.
As an integral part of Life-Planning activities, JCIF is training members
and Co-op staff to be Life-Plan-Advisor (LPA). Participants of LPA courses
learn about life planning, insurance, taxation and finance in comprehensive
lectures held by JCIF in order to become LPA. As of March 20, 2019, there are
4,298 LPAs active at member Co-ops across Japan.
(number ofparticipants)

18,761 18,565■ Participants in Life-planning Activities
Fiscal 2017

Fiscal 2018

6,532 6,255
4,566

3,468 3,419
2,318 2,059

LectureWorkshopWorkshop &gamefor children

1,157 1,131

Learning
activity

Individual
consulting

1,883

5,218

1,900

“Senryu”
project

OthersLife-Planning activities have now become firmly established as Co-op activities. In Fiscal 2018, more than
20,624 people in total participated in the activities, principally in Workshops on Reviewing Insurance.

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

(1) Automatic Blood Pressure Measuring Devices Installed
JCIF has installed automatic blood pressure measuring devices at more than 367 Co-op stores throughout
Japan. Since managing blood pressure is paramount for preventing all lifestyle-related diseases, it is essential
to consistently measure blood pressure on a daily basis. The devices are easy for members to use to test theirblood pressure level while shopping and utilized for them to manage their health on a daily basis.
Annual Report 2019 13

(2) CO-OP Insurance Health Call Center

JCIF offers a free phone consultation service madeavailable to Tasukeai , i.-Plus , Zutto-i. and New i.i.
policyholders. JCIF contracts specialist counsellors
including doctors and nurses from governmental
corporation to give advice on health, treatment andcare-giving as well as instruction on which medial
facility to use.
During Fiscal 2018, the call center fielded 41,660
calls for advice.

(3) Support Project for Health Promotion
JCIF started its CO-OP Insurance 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 policyholders’ contribution generated by accumulatinga part of the annual surplus from our mutual insurance business,
we execute the project with the aim of contributing to ourpolicyholders, benefitting our mutual insurance business, anddemonstrating our comprehensive capacity to address social
challenges. Under the themes of food life, physical exercises andsocial participation, our member Co-ops are implementing diverse
http://coopkyosai.coop/kenko/
efforts in view of their local circumstances by cooperating withother organizations.
In Fiscal 2017 and 2018, 23 activities were organized by 22 Co-ops, to which we extended financial support
totaling 247 million yen for 49 activities.

Donation of School Bag covers
Since Fiscal 2015, as part of its social contribution activities, JCIF
has been donating covers for school bags (leather backpacks) to new
first graders at elementary schools across Japan in cooperation withlocal municipalities.
In Fiscal 2018, we donated a total of 257,887 covers to children
newly enrolled in 5,197 elementary schools nationwide. To schools
where pupils use nylon backpacks, we donated plastic holders forteacher-parents correspondence notepads (146,609 holders to
1,681 schools nationwide).
The yellow school bag cover featuring an illustration of Ko-suke,
CO-OP Insurance’s official bear character, is eye-catching andmakes it easier to spot children from afar. The covers help local
communities watch over their children and prevent traffic accidents.

14 Annual Report 2019

International Relations
JCIF engages in initiatives to promote co-op activities in partnership with co-ops and mutual
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 of co-ops,
promoting international collaboration among co-ops, and contributing to world peace and safety, ICA makes
recommendations to international organizations, endeavors to have its opinions reflected, hosts global
conferences, and disseminates information. It is the world’s largest non-governmental organization (NGO),
representing more than one billion members. JCIF joined ICA in 2017.

International Co-operative Mutual Insurance Federation (ICMIF)
One of ICA’s specialty organizations, ICMIF was established to support the global development ofcooperative/mutual insurance movements. JCIF joined ICMIF on March 21, 2009.

Asia and Oceania Association of ICMIF (AOA)
Established in 1984 as one of the regional associations of ICMIF, AOA supports the development ofcooperative/mutual insurance movements in the Asia and Oceania region.

International Activities in Fiscal 2018
Participation in AOA Seminar

AOA hosts the biennial AOA Seminar with the aim of promoting personnel and information exchange among
cooperative/mutual insurance organizations in the Asia and Oceania region and supporting their development.
The 2018 seminar was hosted in Hong Kong under the main theme of “Impact of digital innovation on thestrategies of our sector.” Cooperative/mutual insurance organizations are faced with the need to explore
how digital technologies such as AI, IoT, and blockchain can be incorporated into business and utilized forthe sake of their members and policyholders. In the seminar, theseissues were examined through commentaries by experts and theintroduction of advanced initiatives by AOA members. The seminar
was participated in by 83 representatives from 28 organizations in
11 countries. From JCIF, three representatives participated, serving
as panelists for a panel discussion and attending programs foryoung leaders, thereby exchanging views with other attendees.

Supporting ICMIF 5-5-5 Mutual Microinsurance Strategy
ICMIF is soliciting its member organizations to extend support to its 5-5-5 Mutual Microinsurance Strategy,
which guides the development of mutual microinsurance programs in five emerging countries, reaching out
to five million new households over a five-year period. JCIF has started supporting the strategy by making
donations to India’s DHAN Foundation since 2018. The Foundation is working to promote microinsurance
that covers life, medical expenses, livestock, and agricultural products in India.
Annual Report 2019 15

11. Balance Sheet
Fiscal 2017 and 2018
AssetsCash and deposits
Money trust
Securities
Loans
Reinsurance account
Subcontracting accountContract account
Other mutual insurance assets
Prepaid expenses
Accrues income
Other assets
Fixed assets for business use
Investment in affiliates etc.
Differed tax assets
Differed assets
Total assets
Liabilities
Policy reserves
Reinsurance account
Subcontracting accountContract account
Other mutual insurance liabilities
Accrued expenses
Other liabilities
Allowance
Price ﬂuctuation reserves
Total liabilities
Net assets
Member capital
Other
Total net assets
Total liabilities and net assets

JPY¥ Million
2017

USD＄ Thousand

※1

2018

2018

¥ 121,761¥ 55,647¥ 179,958¥ 132,718¥ 55,966¥ 198,482＄1,188,696＄501,262＄1,777,716¥ 118¥ 6,333
¥ 308
¥ 110
¥ 43
¥ 183
¥ 882
¥ 8,964¥ 270¥ 15,191¥ 199¥ 7,255
¥ 308
¥ 181
¥ 73
¥ 178
¥ 1,155¥ 8,521¥ 270¥ 16,353＄ 1,782＄ 64,979＄ 2,758＄1,621＄ 653＄ 1,594＄10,344＄76,318＄ 2,418＄146,466¥ 389,773¥ 421,662＄3,776,641

2018

2018

－

－

2017

－

－

¥ 236,969¥ 259,856¥ 255,320¥ 279,457¥ 192¥ 4,132¥0¥ 39¥ 2,189¥ 6,827¥ 1,308¥ 3,660
2017¥ 214¥ 4,181¥0¥ 30¥ 2,709¥ 6,800¥ 1,485¥ 4,176－－＄2,327,416＄ 1,916＄37,447＄0＄ 268＄ 24,263＄60,904＄13,300＄ 37,402＄2,502,973

2018

2018

¥ 133,131¥ 141,138＄1,264,111¥ 134,452¥ 389,773¥ 142,205¥ 421,662＄1,273,667＄3,776,641¥ 1,321¥ 1,066＄ 9,547※ 1. Yen amounts are rounded down to the nearest ¥1 million.
※ 2. U.S. dollar amounts are converted, for convenience only, at ¥111.65=US$1.00 (as of March 20, 2019)and rounded down to the nearest $1 million.

16 Annual Report 2019※2

12. Income Statement
Fiscal 2017 and 2018
Ordinary Income
Premium and other income
Reversal of policy reserves
Investment income
Other ordinary income
Total ordinary income

Ordinary Expenses
Claims paid
Provision of policy reserves
Investment expenses
Business expenses
Other ordinary expenses
Total ordinary expenses
Ordinary Surplus

Extraordinary Income or Loss
Extraordinary income
Extraordinary loss
Surplus before taxes
Income taxes
Income taxes-defferes
Provision of rebate reserves
Net surplus
Net surplus for the period
Reversal of reserve for business continuity planning
Reversal of reserve for office system maintenance
Reversal of reserve for catastrophe solatium
Reversal of subscriber contribution
Unappropriated surplus for the period

JPY¥ Million
2017

USD＄ Thousand

※1

2018

※2

2018

¥ 186,924¥ 30,243¥ 1,849¥ 642¥ 219,660¥ 192,327¥ 30,974¥ 1,752¥ 487¥ 225,541＄1,722,588＄ 277,420＄ 15,691＄4,361＄2,020,071

2017

2018

2018

¥ 98,587¥ 17,255¥ 120¥ 54,133¥ 320¥ 170,417¥ 49,243¥ 101,448¥ 19,006¥ 128¥ 56,783¥ 430¥ 177,797¥ 47,743＄908,625＄170,228＄ 1,146＄508,580＄3,851＄1,592,449＄427,613

2017

2018

2018

-

-

－

¥ 699

¥ 575

¥ 4,898¥ -791¥ 34,212¥ 10,224¥ 526¥ 4,609¥ -1,063¥ 34,856¥ 8,766¥ 517＄ 5,150＄422,463＄ 41,280＄-9,520＄ 312,189＄ 78,513＄4,630

¥ 12
¥ 813
¥ 253

¥ 51
¥ 876
¥ 286

＄456
＄7,845＄ 2,561¥ 48,544－¥ 11,830¥ 47,168－¥ 10,498－＄94,025※ 1. Yen amounts are rounded down to the nearest ¥1 million.
※ 2. U.S. dollar amounts are converted, for convenience only, at ¥111.65=US$1.00 (as of March 20, 2019)and rounded down to the nearest $1 million.

Annual Report 2019 17

13. Solvency Margin Ratio and Others
Fiscal 2017 and 2018
JPY
¥ Million

Solvency Margin Ratio ※ 3

2017Total solvency margin ※ 4 ①
Total risks ②

Solvency margin ratio = ①÷（②× 1/2）
×100

Breakdown of Basic Proﬁt

Basic profit※6

Mortality profit ※ 6
Expense profit ※ 6

Equity Capital Ratio
Contingency reserves ②
Revised equity capital = ① + ②
Total assets ③
Equity capital ratio ※ 7 = ① / ③¥ 196,744 ＄1,762,149¥ 28,779 ＄257,760
1367.3%

2018

2018

＄456,605＄2,427＄400,564＄ 53,605

2017

2018

2018

46.1%

¥ 142,205¥ 49,090¥ 191,296¥ 421,662＄1,273,667＄ 439,677＄ 1,713,354＄ 3,776,641

33.7%

45.4%

※ 1. Yen Amounts are rounded down to the nearest ¥1 million.
※ 2. U.S. dollar amounts are converted, for convenience only, at ¥111.65=US$1.00 (as of March 20, 2019) androunded down to the nearest $1 million.
※ 3. The solvency margin rate of JCIF 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 rate of life insurance companies and nonlife insurancecompanies.
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 Insurance business.
※ 5. Definitions are as follows:
Investment profit : Differential between the projected investment return (expected yield) andthe actual investment return.
Mortality profit : Differential between the projected insurance payment (expected mortality rate) andactual claims for payment.
Expense profit : Differential between the projected operational expenses (projected operational expense ratio) andactual operation expenses.
※ 6. Basic profit is calculated by excluding capital gain/loss, such as sales gain or loss on marketable securities, andextraordinary gain/loss, such as provision for contingency reserves, from recurring surplus. It is the index thatshows 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

18 Annual Report 2019

※2

2018

¥ 50,980¥ 271¥ 44,723¥ 5,985

34.5%

※8

2018

¥ 51,774¥ 419¥ 44,028¥ 7,326¥ 134,452¥ 45,318¥ 179,771¥ 389,773

Equity capital ①

Revised equity capital ratio

1,299.7%

2017※5

Investment profit¥ 183,039¥ 28,165

USD＄Thousand※1Year Ended March 20, 2019

ANNUALREPORT2019

Proﬁle of

JC I FName
JCIF (Japan CO-OP Insurance Consumers' Co-operative Federation)
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, 2019)
Detail of operations
CO-OP Insurance Business
JCIF is the Federation Specializing
in Mutual Insurance Businesses
JCIF (Japan CO-OP Insurance 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, the JCIF, to specialize inproviding mutual insurance products.

Japan CO-OP Insurance Consumers' Co-operative Federation
4-1-13 Sendagaya, Shibuya-ku, Tokyo 151-0051, JAPANTEL :+81-3-6836-1320
FAX:+81-3-6836-1321

http://coopkyosai.coop