Press Conference by SUZUKI Shunichi, Minister of Finance and Minister of State for Financial Services

(Excerpt)

(Tuesday, January 23, 2024, 11:16 am to 11:21 am)

Q.

This is a question related to the Financial Services Agency of a fraudulent insurance claim having been made by BIGMOTOR to Sompo Japan Insurance and Sompo Holdings. To the extent possible, could you let me know about the progress of considering an administrative action against these two companies? 

A.

On-site inspections conducted at Sompo Japan and Sompo Holdings were completed yesterday.
With respect to action taken by the administration in the future based on the inspection result, I think that the action will be promptly determined following the process under the Administrative Procedure Act, namely, we have to hear opinions from the two companies.
Accordingly, I think that I should avoid making a comment on details, including the details of the administrative action, at the moment, since it is being processed under the Administrative Procedure Act.
In any event, I think that the FSA will take appropriate action based on the policy of strictly dealing with this issue from the perspective of protecting policyholders.