Unprecedented large-scale disposition of 149 executives including presidents of four major non-life insurance companies. The number of affected officers was 149 in all four companies, including the parent company.
The four companies announced disciplinary action, including reductions in the compensation of their management teams, in order to clarify who was responsible. This issue highlights that the practice of pre-adjusting insurance premiums has become commonplace within the industry, and companies are required to establish systems to comply with laws and regulations through measures to prevent recurrence.