Japan Post Insurance (JPI) and French reinsurance company Scor have signed a memorandum of understanding (MoU) on ceding underwriting risks linked to postal life insurance policies.
The MoU covers the cession of underwriting risks under JPI’s postal life insurance policies.
Under the agreement, Scor will establish, invest in and operate a reinsurance vehicle for risk management purposes.
The vehicle is intended to assume underwriting risks held by both JPI and Scor, with the parties stating that this would provide risk diversification benefits to both sides.
JPI will also invest in the reinsurance vehicle to support its financial soundness.
The reinsured contracts ceded to the vehicle are expected to be managed by the ceding reinsurer.
Both companies plan to continue discussions on the details of the transaction, the investment in the reinsurance vehicle and related matters.
Completion remains subject to final agreement on those discussions and the receipt of the necessary regulatory approvals and licences.
They intend to proceed with the transaction and the investment once those conditions are met, the press statement read.
A formal decision on the investment will be disclosed once it is made.
JPI is a Japanese life insurer focused on individual life insurance products including endowment and whole life insurance.
It began operations on 1 October 2007 as the life insurance company within the Japan Post Group after the privatisation of Japan Post and the separation of its businesses into distinct companies.
In March this year, JPI took a minority stake in Hoken Minaoshi Hompo Group, a business controlled by KKR-managed funds.
Hoken Minaoshi Hompo Group operates a multichannel insurance distribution business in Japan through high-street outlets, call centres and online channels.
In May, Scor reported net profit of €225m ($264.7m) for the first quarter of 2026 (Q1 2026), an increase of 12.8% from €200m a year earlier.
Insurance revenue declined by 6.1% year-on-year to €3.8bn. Return on equity was 21.7% in Q1 2026, while group economic value rose by 7.4% at constant economics.
“Japan Post Insurance, Scor sign MoU on reinsurance vehicle” was originally created and published by Life Insurance International, a GlobalData owned brand.
