EMB, a specialist non-life insurance & reinsurance actuarial consultancy, has opened a subsidiary in Japan's capital, Tokyo, according to Post Online. The new unit, EMB Japan, will offer a full range of actuarial services to the country's insurance providers.
Fuminori Ogawa, the managing director of the Japanese operation, has extensive experience of the country’s insurance industry.
Cited in Post Online, Fuminori Ogawa commented: It’s a very interesting time to be getting into the Japanese market. The challenges that insurers face are changing. Many of them are becoming quite aggressive as they seek to expand, and the question is how to ensure this approach is sustainable. I believe the situation makes the expertise we offer even more relevant going forward.
According to Insurance Times, the new division will help companies adapt to the new risk-based regime, which has been recently introduced by Japan’s regulator. The new principle is similar to Solvency II.
The Japanese office is the fourth overseas subsidiary the group has established in the past year, reported Insurance Times. The other three units were opened in South Korea, Brazil and Scandinavia.