SAIKYOSAIREN
One for All, All for One

Japan Reinsurance Federation of Consumers’ Cooperatives

FACT BOOK 2022
Report on FY2021 Results

President’s Statement
Firstly, I would like to express my sincere gratitude for your cooperation andcontinued support of the business operations of Saikyosairen.
As a reinsurance center for Japanese mutual aid cooperatives, Saikyosairen
contributes to the stabilization and development of our members’ businessthrough cooperative reinsurance, facilitating fellow cooperatives tostrengthen their relationships among each other.
This is in line with our corporate management philosophy “One for all, allfor one,” which is based on the core principle of mutual cooperatives andits spirit in supporting each other.
We are currently moving forward with 4 visions based on our “FY2021-2022 management plan”
and particularly achieved a key goal “expansion of members and inward business”, where we newly
obtained one new cooperative member at the end of March 2022.
Unfortunately, there was another series of significant natural catastrophic events this past year.
Typhoon Rai (known locally as Super Typhoon Odette) with wind gust at 75m/s (equivalent to
270km/h) hit the Philippines in December 2021, indicating that we could see a super typhoon
making a landfall in Japan in the near future.
Moving into the year 2022, in January, we had Hunga Tonga–Hunga Ha'apai eruption, the largescale eruption of a submarine volcano in the Tongan archipelago in the Southern Pacific Ocean
and tsunami as a result of the eruption which travelled nearly 8,000km to reach the Japanese
coastlines. Focusing on the Japanese events, there was a strong earthquake with the JMA* intensity
6+ recorded in Fukushima Prefecture in March, while there was another earthquake in June with
the JMA intensity 6- recorded in the Noto Peninsula that projects north into the Sea of Japan fromthe coast of Ishikawa Prefecture. Looking back at the year, I believe that natural catastrophe events
have been on a rampage, where risks surrounding our daily life are being increased.
Under such circumstances, FY2022 is the final year of the management plan formulated as a twoyear plan. While further challenging environment is expected, through steady efforts to address
the issues under the management plan, we will endeavor to fulfill the role and mission of
Saikyosairen.
We are pleased to announce the publication of our disclosure paper “Fact Book 2022” which
provides an overview of our business and various activities in FY2021. We humbly ask for you toread the Fact Book and we hope that you reach a better understanding of Saikyosairen.
*JMA: Japan Meteorological Agency
August, 2022

Minao Noda
President of Saikyosairen

S A I K YO S A I R E N
Reinsurance Center for Japanese Cooperatives

Table of Contents
I.

Saikyosairen as a Cooperative

2

II.

Cooperative Reinsurance & International Affairs

7

III.

FY2021 Business Summary

9

IV.

Risk Management & Compliance

13

V.

Membership Support & SDGs Promotion

14

I

Saikyosairen as a Cooperative
About Saikyosairen
Saikyosairen is the only consumer cooperative that specializes in reinsurance business forcooperatives. Through Fire, Natural Perils, Life, Traffic Accident and Automobile reinsurance
business, we contribute to the “stabilization of the management of member cooperatives andsound development of their business operations.” At the same time, we also make great
efforts to fulfill our functions “to reinforce the collaboration between those members andother cooperatives” and “to support the business thereof.”

1. Outline
Formal Name

: Japan Reinsurance Federation of Consumers’ Cooperatives (abbr. Saikyosairen)

Established: 13th January 1975
President: Minao Noda
Regulated Law: The Consumers’ Livelihood Cooperative Society Law
Authority: The Ministry of Health, Labor and Welfare
Members: 66 members*
Membership Fund : JPY 6.7 billion*
Staff: 15 staff*
Business Conducted : Saikyosai (Reinsurance specialized for cooperatives)*As at 31st March 2022

2. Organization Chart
General Meeting
AuditorManagement Committee

Board of Directors
President

Minao Noda

Vice President

President

Natural Perils Policy
Management Committee
Natural Perils Policy Management
Committee consists of the members
who run the NPP program andSaikyosairen. Saikyosairen manages
the operational part of the committee.

Senior Managing Director
Internal Audit &Risk Management
Department

Hiroshi Suzuki

Reinsurance
Department

Marketing &Planning Section

Reinsurance
SectionAdministration
Department

Administration
SectionSenior Managing Director

FACT BOOK 2022

2

3. Member Cooperatives※Total 66 members (As at 31st March 2022)

Workers Cooperatives based on Prefecture

47 members

Federation of Prefectural and Workers Cooperatives (members not listed)

Nationwide Workers Cooperatives based on Occupation

8 members

Shinrin Rohren Kyosai

Japan All Forest Relating Industry Workers’ Insurance Cooperative Society

Jichiro Kyosai Seikyo

All Japan Prefectural and Municipal Workers’ Cooperative Society

Zensuido Kyosai

All Japan Water Supply Mutual Aid Cooperative Society

Zentobacco Seikyo

All Japan Tobacco Workers’ Cooperative Society

Kyousyokuin Kyosai Seikyo

Teachers Mutual Aid Cooperative Society

Zenkoku Koun Kyosai Seikyo National Traffic Industry Workers’ Mutual Aid Cooperative Society
Dentsu Kyosai Seikyo

Telecommunications, Electronic Information and Allied Workers’ Insurance Cooperative

JP Kyosai Seikyo

Mutual Aid Cooperative for Postal Workers

Cooperatives based on Occupation
Shuhan Seikyo

National Consumer Co-operatives for Liquor StoresTobacco Hanbai Seikyo

The National Co-operation Society of Tobacco Retailers

Zentoku Seikyo Kumiai

Zenkoku Yubin Kyokucho Seikatsu Kyodo Kumiai

Boueisyou SeikyoConsumer Cooperative of Ministry of Defense

4 members

Cooperatives Federation

2 members

Kokumin Kyosai co-op

National Federation of Workers and Consumers Kyosai Cooperatives

CO-OP Kyosairen

Japan CO-OP Insurance Consumers’ Cooperative Federation

Citizen’s Cooperatives

2 members

Kyoto Shimin Kyosai

Kyoto Citizens’ Cooperative Society

Kobe Shimin Seikyo

Kobe Citizens’ Cooperative Society

Small & Medium-sized Business Cooperatives

3 members

IHD Kyosai

International Human Development Mutual Aid Cooperative

Zenbeihan

Japan Rice Millers’ and Distributors’ Cooperative

NikkarenNational Federation of Fire Insurance Co-operatives for Small Business

FACT BOOK 2022

3

4. About Kokumin Kyosai co-op Group
Saikyosairen is one of the entities in the Kokumin Kyosai co-op Group.
The Kokumin Kyosai co-op Group consists of three core organizations.
※Zenrosai has newly established the name Kokumin Kyosai co-op from June 2019.
The group name has also changed to Kokumin Kyosai co-op Group.

KokuminKyosai co-op

Saikyosairen

Zenrosai
Kyokai

Kokumin Kyosai co-op ( Est. 29th September 1957)(National Federation of Workers and Consumers Kyosai Cooperatives)

Kokumin Kyosai co-op is a national federation established under The Consumers’
Livelihood Cooperative Society Law, in operation of Kyosai business. It consists of 47
prefecture-based cooperatives, 8 occupation-based cooperatives and 3 cooperative
federations.

Saikyosairen ( Est. 13th January 1975)(Japan Reinsurance Federation of Consumers’ Cooperatives)

As the only entity to arrange ‘Saikyosai’ (Reinsurance specialized for cooperatives),
Saikyosairen supports original members by providing ‘Saikyosai’ to assist in securing thestability and development of their business operations as well as reinforcing thecollaboration between each cooperative through its provision of ‘Saikyosai.’Zenrosai Kyokai ( Est. 1st June 2004)(National Association for Workers’ Welfare and Cooperative Insurance)

Zenrosai Kyokai provides mutual aid services through the research and study of the life
and welfare of workers. Services include municipality associated Keicho insurance, Fireand Auto insurance for corporative bodies, as well as provision of Fire and Autoinsurance as an insurance agency.

FACT BOOK 2022

4

5. Associated Organizations
Saikyosairen collaborates with the following organizations for the purpose of developing
insurance business for cooperatives and activities among cooperatives and workers’ welfare.
Japan Cooperative Insurance Association Incorporated (JCIA)
JCIA promotes the sound development of the cooperative insurance business by contributing
to stabilizing the lives and improving the welfare of people engaged in the agriculture, forestry
and fisheries industries through providing information, publicity and consultation activities inrespect of cooperative insurance business to its members.

International Cooperative and Mutual Insurance Federation (ICMIF)ICMIF is a global trade association representing cooperative and mutual insurers. It conducts
various research and studies for its members. Saikyosairen joined ICMIF in September 2006 inorder to further strengthen the relationship with cooperatives and mutual insurers around theworld.
National Council of Workers’ Welfare (Chuo Rofukukyo)
National Council of Workers’ Welfare is a central organization of welfare. It comprises ofprefectural labor organizations, workers' welfare organizations, national federations ofconsumer cooperatives and Workers’ Welfare organizations.

FACT BOOK 2022

5

6. History of Saikyosairen and Natural Perils Policy
Since 1975 when Saikyosairen was founded as “Tansan Kyosai Rengokai,” it has gone throughthe organizational changes described as below. Saikyosairen now assumes a role in the current
organization as the “Reinsurance Center.”
1975“Tansan Kyosai Rengokai” (Precedent organization of Saikyosairen) was formed tooperate Auto insurance business.

1980

Reestablished as “Jidosha Kyosairen,” due to business expansion and unification with
Rosairoren (Now known as Kokumin Kyosai co-op).

1987

Reorganization as “Zenrosai Saikyosairen”
Started to write reinsurance business for Automobile, Motorized Bicycle, Fire,
Comprehensive (Keicho), Traffic Accident and Life in December 1987.
Ceased to accept the insurance business for Automobiles and Motorized Bicycle andtransferred it to Zenrosai and each industrial cooperative member. Started to provide
claims services and data processing for Automobile insurance as a commissioned
business.

2000

Natural Perils Policy LaunchStarted to write Natural Perils reinsurance business and placed the reinsurance for thegroup in the international reinsurance market.

2004

Consolidation of Automobile Insurance Business into Zenrosai andFounding of Specialized Organization for Reinsurance
Consolidated Automobile insurance business of Workers Kyosai Group into Zenrosai
on 1st October 2004 and became the only Japanese organization that specialized inreinsurance business for cooperatives.

2006

Rebranding to “Saikyosairen”
Renamed as “Japan Reinsurance Federation of Consumers’ Cooperatives” (abbr.
Saikyosairen). Officially made a fresh start as “Reinsurance Center” for all Kyosaiorganizations.

FACT BOOK 2022

6

II Cooperative Reinsurance & International Affairs
1. Reinsurance Sector(1) Types of Reinsurance (Saikyosai) and Services
Saikyosairen offers the following seven types of reinsurance under license from the
Ministry of Health, Labor and Welfare.
Type of Reinsurance
Fire
Natural Perils

Type of Service
Quota Share, Surplus, Excess of Loss
Quota Share, Excess of Loss

Comprehensive(Mutual Aid Benefit aka
Keicho)Quota Share, Surplus, Excess of Loss

Life

Quota Share, Surplus, Excess of Loss

Traffic Accident

Quota Share, Surplus, Excess of Loss

Automobile
Compulsory Automobile
Liability Insurance

Quota Share, Excess of Loss
Assume reinsurance of CALI within the Kokumin Kyosai co-op group.
Provide an administrative service for mutual pooling and report to thegovernment in accordance with the Automobile Liability Security Act.

(2) What is Saikyosai?
◇Reinsurance provision for cooperatives(agreement between Saikyosairen and members)◇The purpose is to secure members’ business stability through risk diversification
Saikyosai is a method available to cooperatives who runs insurance business, to transfer allor part of their risks. In essence, it functions as insurance coverage for cooperatives.
In order for member cooperatives to offer long and stable coverage to their policyholders,
the large potential losses must be accounted for, especially those of earthquake andwindstorms.
Saikyosai enables cooperatives to reduce risk retention, thus stabilizing its business and toprovide variety of coverage for ever-diverse needs of their policyholders.

FACT BOOK 2022

7

2. Ceding to the Global Reinsurance Market
In order to maintain sound business operations, Saikyosairen utilizes global reinsurance
markets to divert part of the assumed risks internationally.
Specifically, we recognize securing ways to transfer Earthquake and Windstorm aggregatedrisks to be our primary mission. Therefore, we work with reinsurers to establish reinsurance
provisions that will ensure stability for the long term, while also promoting the values andprinciples of Japanese cooperatives to the Reinsurance market.
As a result, during the Tohoku Earthquake, due to the speedy recovery of reinsurance claims
from our reinsurance partners, we were able to smoothly process reinsurance claims payments
to our members.

Saikyosai Agreement

Reinsurance Agreement

Premium Payment
Risk Transfer

MemberCooperatives

Premium Payment
Risk Transfer

Saikyosairen
Claim Payment

Reinsurers
Claim Payment

FACT BOOK 2022

8

III FY2021 Business Summary
1. Contract Status
The number of policies decreased by 0.19 million (-1.0%) to 18.6 million as a result of decreases
in Comprehensive, Traffic Accident, and Fire policies from the previous fiscal year which offset
increases in Auto and other policies.
The total number of contract units decreased by 0.6% to 1.4 billion units.
Fire

NaturalPerilsComprehensive

Traffic
Accident

Life

Auto

CALI*

Consolidated
Total

Number of Policies (Unit:1,000)

4,401

2,393

7,798

2,693

107

1,026

267

18,687

Variance from FY2020

-24

7

-118

-91

-9

29

11

-196

% Change
Number of Units (Unit:1,000)

-0.6%

0.3%

-1.5%

-3.3%

-8.1%

3.0%

4.6%

-1.0%

859,221496,367

26,412

61,936

1,035

13,648267

1,458,890

Variance from FY2020-8,100

1,202

-380

-2,253

-217

379

11

-9,357

-0.9%

0.2%

-1.4%

-3.5%

-17.3%

2.9%

4.6%

-0.6%

% Change*CALI = Compulsory Automobile Liability Insurance

2. Profit and Loss Performance(1) Cooperative Reinsurance Sector※CALI excluded① Gross Reinsurance Premium
The total gross reinsurance premium income increased by JPY 0.58 billion (2.7%) year on
year to JPY 22.43 billion as a result of higher income from Comprehensive and Natural
Perils, which offset lower income from Traffic Accident and Life.
② Gross Reinsurance Claims
The total gross reinsurance claims were JPY 19.57 billion, a decrease of JPY 0.03 billion(-0.2%) year on year, due to the absence of major natural disasters.

FACT BOOK 20229

【Reinsurance Business Performance】

Fire
Gross Reinsurance Premium *1
Variance from FY2020% Change
Gross Reinsurance Claims *2
Variance from FY2020% Change
Operating Surplus *3
Change (Amounts)

3,685
45
1.3%
3,198
-265
-7.7%
132
3

Natural Compre- Traffic
Perils hensive Accident
17,579
542
421
549
75
-84
3.2% 16.3% -16.7%
15,659
246
355
572
-114
-235
3.8% -31.8% -39.9%
314
7
117
24
-27
-6

(Unit: JPY millions)

Life

Auto

Reinsurance
Total

CALI

Consolidated
Total

44
-2
-5.5%
30
-6
-17.0%
12
4

163
3
2.4%
79
14
22.2%
91
-49

22,437587
2.7%
19,570
-34
-0.2%
676
-50

5,490
-350
-6.0%
5,394
-313
-5.5%
－
－

27,928237
0.9%
24,964
-348
-1.4%
676
-50

(NB)

*1. Gross Reinsurance Premium = Reinsurance Premium + Ceded Reinsurance Premium (Received) + Ceded Reinsurance Claims(Recovered)*2. Gross Reinsurance Claims = Reinsurance Claims + Ceded Reinsurance Claims(Paid) + Ceded Reinsurance Premium (Paid) etc.
*3. Operating Surplus = Gross Reinsurance Premium - Gross Reinsurance Claims + Investment Income - Investment Expenses - Operating Expenses
3. ± Claim Reserves (Provision and Reversal) ± Liability Reserves(Provision and Reversal)(2) Investment Income
Investment income decreased by JPY 15 million (-15.5%) year on year to JPY 82 million due
to a decrease in interest income as a result of the continued low interest rate environment. As
a result, the investment yield was 0.16%.

(3) Operating Expenses
Although property expenses increased due to depreciation of accounting systems and servers,
personnel expenses decreased from the previous year due to a decrease in staff salaries andretirement benefit expenses as a result, overall expenses decreased by JPY 35 million (-10.7%)
to JPY 297 million.

(4) Surplus① Ordinary Surplus
Ordinary surplus decreased by JPY 64 million (-8.0%) year on year to JPY 748 million due
to an increase in transfer policy reserves despite an increase in gross reinsurance premium.
After accounting for corporate taxes and corporate taxes adjustment, the surplus was JPY
548 million, which is JPY 41 million (-7.1%) lower than the previous year.
② Unappropriated Surplus for the Period
Unappropriated surplus for the period, after adding JPY 29 million of surplus carriedforward from the beginning of the fiscal year, resulted in JPY 578 million (a decrease of JPY
23 million from the previous year).
FACT BOOK 2022

10

3. Financial Statements※FY2021 ending on March 31, 2022

(1) Balance Sheet(Unit: JPY thousands)
FY 2020

FY 2021

27,965,553

31,904,268

Differences% Change

I. Assets
1. Cash and deposits
2. Money-in-trust
3. Money due
4. Securities
5. Loans
6. Reinsurance accounts receivables
7. Other business assets
8. Advance payment provisions
9. Uncollected profits
10. Other assets
11. Fixed assets for business operation
12. Fund
13. Deferred tax asset
14. Allowance for bad debts

Total Assets

3,938,715

14.1

-

-

-

5,500,000

6,000,000

500,000

9.1

20,061,353

17,471,413-2,589,939

-12.9

-

-

-

-

745,537

705,566-39,970-5.4

3,785,292

4,025,421

240,129

6.3

12,378

13,634

1,256

10.1

15,98013,449-2,530-15.8

31,83831,677-160-0.5

16,38016,023-356-2.2

88,02688,0260

0.0

5,892,361

6,203,422

311,061

5.3

-

-

-

-

-

64,114,701

66,472,905

2,358,204

3.7

33,143,479

35,090,797

1,947,318

5.9

31,059,242

33,060,632

2,001,390

6.4

596,618

507,629-88,988-14.9

1,072,346

740,966-331,380

-30.9

7,545

5,864

-1,680-22.3

71,829484,411

412,581574.4

90,55334,273-56,280-62.2

245,343

257,019

11,676

4.8

30,971,221

31,382,107

410,886

1.3

1. Members capital(1) Membership fund(2) Surplus① Legal reserves② Voluntary reserves③ Unappropriated surplus for the period(Surplus for the period)
2. Difference of value and etc.

30,786,512

31,261,410

474,897

1.5

6,715,920

6,720,920

5,000

0.1

24,070,592

24,540,490

469,897

2.0

7,831,916

7,950,916

119,000

1.5

15,637,449

16,011,449

374,000

2.4

601,226

578,124-23,102-3.8

590,063548,275-41,788-7.1

184,708

120,697-64,011-34.7

Total Liabilities and Net Assets

64,114,701

66,472,905

2,358,204

3.7

II. Liabilities
1. Policy reserves
2. Reinsurance accounts payables
3. Other insurance business liabilities
4. Expenses payables
5. Other liabilities
6. Allowance
7. Price fluctuation reserves

III. Net Assets

FACT BOOK 202211

(2) Profit and Loss Statement
Ordinary Income
1. Gross Reinsurance Premium *1
2. T ransfer from policy reserves
3. Investment income
4. Other ordinary income(Unit: JPY thousands)
FY 2020

FY 202128,368,010

28,392,888

Difference% Change

27,690,688

27,928,204

237,5150.9

577,147

379,721-197,426-34.2

97,421

82,356-15,065

-15.5
-5.3

24,878

0.1

2,752

2,606

-146

Ordinary Expenses

27,554,293

27,643,892

89,5980.3

1. Gross Reinsurance Claims *2
2. T ransfer to policy reserves
3. Investment expenses
4. Operating expenses
5. Other ordinary expenses
Ordinary surplus
Extraordinary income
Extraordinary loss
Surplus before taxes
Corporate and other taxes
Adjustment of corporate and other taxes
Net surplus for the period
Retained earnings from prior period
Payments from voluntary reserves
Unappropriated surplus for the period

25,313,623

24,964,887-348,735-1.4

1,907,178

2,381,111

473,933---

333,491

297,892-35,599---

813,717

748,996-64,720

-

-

-

24.8
-10.7
-8.0
-

13,517

11,676-1,841-13.6

800,200

737,320-62,879-7.9

64,557475,312

410,755

636.3

145,579-286,266-431,846-296.6590,063548,275-41,788-7.1

11,16329,84918,685

167.4

-

-

-

601,226

578,124-23,102-3.8*1 Gross Reinsurance Premium = Reinsurance Premium + Ceded Reinsurance Premium (Received) + Ceded
Reinsurance Claims (Recovered)*2 Gross Reinsurance Claims = Reinsurance Claims + Ceded Reinsurance Claims (Paid) + Ceded Reinsurance
Premium (Paid) etc.

FACT BOOK 2022

12

IV Risk Management & Compliance
1. Risk Management
Saikyosairen identifies various risks surrounding organization management and business
operations to execute appropriate risk management according to the characteristics ofeach risk.
We strive to strengthen our risk management to secure sound and adequate business
operations as the top priority of our management.
The Internal Audit and Risk Management Department sets a controlling office for risk
management in order to implement a comprehensive and inter-department management.

2. Compliance
In recognition of Saikyosairen’s public mission and social responsibility, we value our dayto-day work in compliance with laws and regulations to gain respect and trust among
members through our fair and sound business operations.
In this respect, through ethical and legal compliance, as well as devotion of the utmost
effort to serve members as a general rule, we have established ‘Directors & Employees
Code of Conduct’ to encourage honesty and responsibility. That is then conveyed among
our employees.
Moreover, in order to raise awareness for Compliance by all of our officers and employees,
we have designated a “Month for promoting Compliance” every year and continue tocarry out educational activities.

3. External / Internal Audit
We have appointed four auditors, including one full-time and three part-time auditors toverify the appropriateness of business operations, execution of business and accounting.
This is done in cooperation with an independent auditor.
Internal Audit conducted by the Audit and Risk Management Department proposessuggestions and improvements by verifying and assessing the appropriateness of its
implementation status on respective departments.

FACT BOOK 2022

13

V Membership Support & SDGs Promotion
1. Supporting Member Cooperatives
Saikyosairen utilizes various channels toprovide business support to our member
cooperatives. Our support activities
include providing training seminars andnetworking opportunities as well as
facilitating lectures with topics related tocooperative insurance and reinsurance.
They are tailored not only for theOnline Seminar: "Strategic DX in Life and Non-Life insurance:
Insurance Industry Product and Sales Trends"

member cooperatives but also open forprospective members.

2. Disclosure
Saikyosairen discloses the following information for public viewing.
Website (https://www.saikyosairen.or.jp)

Fact Book

You can see the Fact Book via our website
both in Japanese and in English.

“Sairen Dayori” Quarterly News Letter“Sairen Dayori” is issued quarterly
informing our member cooperatives of
hot topics such as activity reports andbusiness risks surrounding cooperative
organizations.
※available only in Japanese

FACT BOOK 2022

14

3. SDGs Promotion
To fulfill our mission as a cooperative, we are working to promote the SDGs as an activity
that contributes to the implementation of a sustainable society.
① Activities to Mitigate Environmental Load
We have implemented environmentally friendly policies, such as reducing
consumption and recycling paper, as well as reducing energy consumption.
We have also promoted the purchase of environmentally conscious office products.
② Environmental Conservation Program
As a member of the Public Interest Incorporation Association, we have continued
to support the “Mt. Fuji Reforestation Project”which started as a 20th anniversary
project in 2007.
③ Purchase of “SDGs Bonds”
As a part of our asset management strategy that incorporates an ESG perspective,
we purchased “SDGs bonds”.
④ Held Online Seminar on SDGs
An online seminar was held for members with the theme of "How Mutuals andInsurance Companies Should work towards the Realization of the SDGs ".

FACT BOOK 2022

15

SAIKYOSAIREN

Japan Reinsurance Federation of Consumers’ Cooperatives
2-12-10, Yoyogi
Shibuya-ku, Tokyo 151-8531, JAPANhttps://www.saikyosairen.or.jp/english/index.html

FACT BOOK 2022

16