Japan Post Insurance New insurance contract halved due to improper sales problem February 14 19:02
The Japan Post Group announced its nine-month financial results through December last year, and the number of new insurance policies for Japan Post Insurance has been reduced by half compared to the same period last year due to the problem of inappropriate sales. .
According to the Japan Post Group's nine-month accounting period to December last year, Japan Post Insurance's new insurance contracts totaled 630,000, a decrease of 52.1% compared to the same period last year.
This is because insurance sales activities have been banned since mid-July last year due to inappropriate sales issues.
The Japan Post Group has received a partial suspension order from the Ministry of Internal Affairs and Communications and the Financial Services Agency ordering to stop selling insurance until next month, and the impact is expected to increase further throughout the year.
In addition, over the course of the year, the company expects to pay ¥ 9 billion for investigating inappropriate sales issues, and has paid approximately ¥ 600 million for refunds of insurance premiums previously paid by policyholders.
On the other hand, the Group as a whole had net income of 422 billion yen, up 7.6% from the same period last year, mainly due to the growth of the small parcel delivery business.
Tomonori Asai, Head of Accounting and Finance at Japan Post, said at a press conference, "If insurance contracts decrease, profits will gradually increase over the medium to long term. The whole group will be facing tensions." .