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GIAJ Studying IFRS4 phase IIL 9  9 l@Recent revisions of SAPFY2005 New calculation methods of UP and Cat reserve for risks of natural disasters FY2006 Statistical estimation of IBNR reserve Future cash flow analysis & test FY2007 Stress test & Liability adequacy test on medical and nursing care productsZMZZHZZKZM'!K mA Loss reserving (prior revisions)! nB!Prior loss reserves - Recognition""$Two items Case reserve & outstanding loss IBNR reserve & not yet & not enough Reinsurance deduction Estimated amount to be collected from reinsurance can be deducted Allocated unpaid loss adjustment expenses are included` EB7 EB7oC Prior loss reserves - Estimation!!$Case reserve Case estimate IBNR reserve Target lines and applicable formulae were placed in the Official Notification Tax Code permits IBNR reserve for all lines and provides similar formulaeL  pD#Prior loss reserves - IBNR formulae$$ TIBNR reserve takes greater amount between& +Z+qEPrior loss reserves - features(DExposures has been NOT excessive Not synchronized with Profit Cycle &E / rFLoss reserving (post revisions)   sGNew loss reserves - stables([Recognition of reserves Case reserve IBNR reserve Estimation of Case reserve Case estimateLtHNew loss reserves - changes(IBNR reserves shall be estimated by actuarial and statistical method (principle) Screening for short cut calculations of IBNR reservesuIScreening of IBNR Reserves(RReserving methodFormula method An average of run off results in relation to Case reserves Incurred loss/12 for assumed business Statistical method Not stated in IBLs Chain-Ladder, Bornhuetter-Ferguson, etc.Vb<a<vJDisclosure of Loss Reserves(bIAIS supervisory standard No.9  Standard On Disclosures Concerning Technical Performance And Risks For Non-life Insurers And Reinsurers (Oct. 2004) In the past balance sheet& Net presentation Gross and reinsurance items the note FY2006 or later, we will provide& Claims development and Run off Resultsw8"'w- "'  wKClaims Development^Long-tailed lines Automobile, General Liability and Personal Accident Disclose past five yearsBP4PP4xLRun off ResultsPAll businesses except CALI and EQ The run off results is the difference between& the loss reserves at the beginning of the period, and the sum of the paid loss during the year on account of claims incurred in previous years and the loss reserves at the end of the year for such outstanding claims.QZZQQ        9    2  yMRole of Actuaries zN#Role of actuaries (prior revisions)$( There was little role in loss reserves estimations Case reserves were case estimate IBNR reserves were ruled by IBLs Actuaries laid weight rather on premium reserves of long-term policies63CG3CG{O"Role of actuaries (post revisions)#( NActive role in estimation Statistical and actuarial estimation of IBNR reserves Expanded appointed actuary system to verify appropriateness of loss reserves to submit the actuarial opinion to the board of directors to follow actuarial practice standards prepared by the  designated corporation T7"7"D       |P3The practice standards for the appointed actuaries44$Standards for Non-life actuaries IAJ launched the working group to draft the practice standards in 2005 Topics Loss reserves, policyholder dividend, future cash flow analysis& Principle basisj!ZHZZBZZ!HB}QThank you for listening(4http://www.actuaries.jp http://www.sompo-japan.co.jpd 04/~*+,-./0123456789:<=>?@ABCDEFGHIJ2 ` 33PP` 13` 3333` Q_{` 333fpKNāvI` j@v۩ῑ΂H>?" dd@,?n<d@ `7 `2@`7``2 n?" dd((@  @@``PR    @ ` ` p>>ZK0 < 4 0  (    <X"p 6"0c  Td"p 6"0c  <"zU_ 6"0c  TŤd"z>& 6"0c  Ng"LPV 6"0c  <", 6"0c  C x<?d?"U2 6"0c   <p: #" `Ih  N000 0000n0f_-[ |   0G "C  Z000 0000n0f_-[ ,{ 2 000 ,{ 3 000 ,{ 4 000 ,{ 5 000Z  68h "Q  N*$0e  6M "    N*$0e  6lQ "<<  R*(0gB  s *޽h ? 333380___PPT10.(г%  Blends  hZK0 0 ( @ (  T +  "+% bb P@ # "Dwoh  s *"PP  Bd" P@bb P 0  # "Nyh  s *"P    Bd"P 0 z   <" a*h   s *"    f?d?"+)   B) ?#" `pG  N000 0000n0f_-[    0, " `    R000 000000n0f_-[   6,1 "    N*$0e  6@6 "Q  N*$0e  6; "<<  R*(0g:  C xD: V??#"  c ~Bthe CAS Spring meeting 2006 International Reserving Practices(GS4) C 2CgB  s *޽h ? 333380___PPT10.(г%h 0 6. l(  l l 0l} /7   `*c  l 0 "`c F  b*c d l c $ ?D3,   l 6L /F   `*c  l 6 "`c 7  b*cv l s *4 "`  Z000 0000n0f_-[ ,{ 2 000 ,{ 3 000 ,{ 4 000 ,{ 5 000ZH l 0af ? 3380___PPT10.])$ @8(  @ @ 0d /7   >*  @ 0ܝ c 7  @*  @ 6 /F   >*  @ 6ا c F  @* H @ 0af ? 3380___PPT10.4`O[i*ZK0  (  ~  s *I pG  ~  s *XJ  q   F $ 9   a )Vvh  C 8A e,g0000000O00\ $ >9   C x0L V??"`    ]#The Institute of Actuaries of Japan$ 2$cZ  C $A 00006"`H  0޽h ? 33___PPT10i.]0+D=' = @B + h+ZK0 <(  ~  s *5 Ih  5 ~  s *5 C 5 H  0޽h ? 3333___PPT10i.^Hk+D=' = @B +-i,ZK0 ,$0(     04_ pG _ H  0޽h ? 3333___PPT10i._+D=' = @B +]O h-ZK0 \NTNPPM(  ~  s *_ Ih  _ L jG  #"B6 jG _)   __ж_жfV??"` OG S 1,395,218   @`,   __ж_ж V??"` W O P23,714 @`,   д__ж_ж V??"` _ W  P27,064 @`,   __ж_ж V??"` g _  P32,311 @`,   |__ж_ж V??"` o g  P40,232 @`,    __ж_ж V??"` w o  P46,728 @`,    T"__ж_ж V??"` w  P65,811 @`-    *__ж_ж V??"`  Q105,241 @`-    T4__ж_жfV??"`  Q105,587 @`-    <__ж_ж V??"`  Q106,261 @`-   xF__ж_ж V??"`  Q603,018 @`0   0H__ж_жfV??"`  T PV(US$Mln)   @`)   $X__ж_ж V??"`W jO M1.7 @`-   a__ж_ж V??"`W O Q Australia   @`(   j__ж_ж V??"`W O L10 @`#   s__ж_жfV??" O G MWorld @`'   m__ж_ж V??" _ W  K9 @`'   P__ж_ж V??" g _  K8 @`'   __ж_ж V??" o g  K7 @`'   __ж_ж V??" w o  K6 @`'   t__ж_ж V??" w  K5 @`'   __ж_ж V??"  K4 @`'   ^_ж_жfV??"  K3 @`'   L^_ж_ж V??"  K2 @`'   (^_ж_ж V??"  K1 @`'   ^_ж_жfV??"  K# @`%   ^_ж_жfV??" OjG O100.0 @`)   ^_ж_ж V??" _ jW  M1.9 @`/    | ^_ж_ж V??" _ W  S Netherlands   @`) !  ,^_ж_ж V??" g j_  M2.3 @`) "   '^_ж_ж V??" g _  MSpain @`) #  >^_ж_ж V??" o jg  M2.9 @`* $  G^_ж_ж V??" o g  NCanada @`) %   # lo ??GjGB ? 3 ro??B @ 3 ro??jjB  # l1 ??OB ĝ # l1 ??  GB Ɲ # l1 ??GB  3 ro??B  3 ro??jjB  3 ro??B  3 ro??jjB  3 ro??B  3 ro??jjB  3 ro??B  3 ro??jjB  3 ro??w B  3 ro??jjw B  3 ro??w o B Þ 3 ro??jw jo B Ğ 3 ro??o g B ˞ 3 ro??jo jg B ̞ 3 ro??g _ B Ӟ 3 ro??jg j_ B Ԟ 3 ro??_ W B ۞ 3 ro??j_ jW B ܞ 3 ro??W OB  3 ro??jW jOB  3 ro??OGB  3 ro??jOjG# B C xxW9 V??" # m mSwiss Re, sigma No.2/20058 2 aa aH  0޽h ? 3333___PPT10i.^0=+D=' = @B +?X h.ZK0 >W6Wp``V(  ~  s *_ Ih  _ G w, ` #"B6 w, _  c  k_V??"`p2, O8,763 @`  S ~P_ V??"`p: 2 L62 @`  S ~^ V??"`pT :  M234 @`  S ~,v^ V??"`pn T  M368 @`  S ~t?^ V??"`p n  M168 @`   S ~`Q^ V??"`p   M943 @`   S ~9 V??"`p  M381 @`   S ~ V??"`p M892 @`   S ~d V??"`p O1,626 @`   S ~܏ V??"`p  O1,626 @`  S ~; V??"`p  O2,143 @`  c <V??"`p U DNP(JP\Bln)   @`  c 0V??" 2, O100.0 @`-  c 0%V??" w2p, cTotal of domestic insurers  @`  S ~8. V??" : 2 M0.7 @`  S ~] V??" : p2 MSecom @`  S ~@` V??" w: 2 L10 @`  S ~Ȣ V??" T :  M1.9 @`  S ~< V??" T p:  MKyoei @`  S ~4i V??" wT :  K9 @`  S ~r V??" n T  M2.7 @`  S ~Z V??" n pT  LFuji @`  S ~Z V??" wn T  K8 @`  S ~Z V??"  n  M4.2 @`  S ~Z V??"  pn  ONisshin @`  S ~Z V??" w n  K7 @`  S ~VZ V??"    M4.3 @`  S ~YZ V??"  p  LAioi @`   S ~Z V??" w   K6 @` ! S ~0Z V??"   N10.2 @` " S ~pZ V??" p  S Nissay Dowa   @` # S ~yZ V??" w  K5 @` $ S ~bZ V??"  N10.8 @` % S ~lZ V??" p R Nippon Koa   @` & S ~Z V??" w K4 @` ' S ~Z V??"  N18.6 @` ( S ~H#Z V??" p WMitsui Sumitomo @` ) S ~Z V??" w K3 @` * S ~9Z V??"   N18.6 @` + S ~\CZ V??"  p S Sompo Japan   @` , S ~,Z V??" w  K2 @` - S ~Z V??"   N24.5 @` . S ~Z V??" p  YTokio M & Nichido @` / S ~0wS V??" w  K1 @` 0 c `ySV??"  MWT% @` 1 c pSV??" p QCompany @` 2 c qSV??" w K# @`B 3 # lo ??wB ? # lo ??w,,B @ 3 ro??wwB A 3 ro??B z # l1 ??2B } # l1 ??pp,B  # l1 ??,B  3 ro??ww B  3 ro?? B  3 ro??w wB   3 ro?? B   3 ro??wwB  3 ro??B  3 ro??wwB  3 ro??B  3 ro??ww B # 3 ro?? B $ 3 ro??w w B + 3 ro??  B , 3 ro??w wn B 3 3 ro?? n B 4 3 ro??wn wT B ; 3 ro??n T B < 3 ro??wT w: B C 3 ro??T : B D 3 ro??w: w2B K 3 ro??: 2B L 3 ro??w2w,B R 3 ro??2,  B C xS V??" i THoken Kenkyujo, Insurance 2005 2a l }  #" D c S V??" } L15 @` E c S V??" } QForeign @` F c S V??"  L23 @` G c S V??"  RDomestic   @` H c ,SV??"  K# @` I c 4SV??"  QLicense @`B J # lo ??B M # lo ??}}B N 3 ro??B O 3 ro??B g # l1 ??}B  3 ro??B  3 ro??B  3 ro??}B  3 ro??}H  0޽h ? 3333___PPT10i.^0=+D=' = @B +OB h/ZK0 NAFAI@(  ~  s *`Z Ih  Z ? \  #"F: \ Z  C xZ V??"` v B @`   C xdZ V??"` v N148  @`   C x\Z V??"` v NOthers @`  S ~SV??" v\ Q(1,246) @`  S ~`SV??"  v\ P8,763  @`   S ~OSV??" v \ MTotal @`   C xS V??"    B @`    C x`S V??"    M37  @`   C x(! V??"   S Contractors   @`    C x8! V??"    M(2) @`   C x! V??"    M42  @`  C xD! V??"   Q Pecuniary   @`   C x! V??"    M(6) @`   C x! V??"    M71  @`  C x@ ! V??"   \Workers Compensation @`   C x! V??"    M(0) @`   C x@! V??"    N116  @`  C xH! V??"   ^Movables comprehensive @`  C x ! V??"    B @`   C x7! V??"     N270  @`  C x`9! V??"   _Marine & Inland transit @`  C xPI! V??" ,  B @`   C x0R! V??"  ,  N386  @`  C x$[! V??" ,   YGeneral liability @`   C xd! V??" F, O(364) @`  C xm! V??"  F, P1,475  @`   C xg! V??" F , LFire @`   C x\! V??" `F O(865) @`   C x8! V??"  `F P1,496  @` ! C x! V??" ` F YPersonal accident @` " C x! V??" z` B @` # C x4! V??"  z` P1,190  @` $ C x8! V??" z ` ]Compulsory Automobile @`  % C x,! V??" z M(8) @` & C xȫ! V??"  z P3,532  @` ' C x V??"  z \Voluntary Automobile @`! ( c V??"  W (Saving type) @` ) c V??"   U DNP(JP\Bln)   @` * c  V??"   OLines @`B + # lo ??B 7 # lo ??\\B 8 3 ro??B 9 3 ro??B M # l1 ??  \B O # l1 ??\B  3 ro??zB  3 ro??zB  3 ro??z`B  3 ro??z`B  3 ro??`FB Ŭ 3 ro??`FB Ƭ 3 ro??F,B ˬ 3 ro??F,B ̬ 3 ro??, B Ѭ 3 ro??, B Ҭ 3 ro??  B ׬ 3 ro??  B ج 3 ro??  B ݬ 3 ro??  B ެ 3 ro??  B  3 ro??  B  3 ro??  B  3 ro??  B  3 ro??  B  3 ro??  B  3 ro?? vB  3 ro?? vB  3 ro??v\B  3 ro??v\   C x% V??"  i THoken Kenkyujo, Insurance 2005 2aH  0޽h ? 3333___PPT10i.^V+D=' = @B +5 h0ZK0 44:+&4(  ~  s *  Ih   `2  * #":.   S ~ V??"   OWT(%) @`  S ~bSV??"    V Amt (JP\Bln)   @`  S ~!V??"   NItem @`  S ~,!V??"   P100.0  @`  S ~!V??"   S 32,536.1    @`   S ~!V??"   T Total assets   @`   c (]! V??"    N7.4  @`   c  V??"   R2,418.9    @`   c ̸ V??"   T Other assets   @`   c lE V??"     N3.9  @`  c xT V??"    R1,255.9    @`  c ] V??"   S Real estate   @`  c _ V??"  `   N8.8  @`  c hp V??"  `   R2,853.9    @`  c a V??" `   MLoans @`  c Ё V??"  A `  N2.1  @`  c  V??"  A `  P674.7  @`"  c Ԍ V??" A `  XOther securities @`  c  V??"  "A  O13.8  @`  c H V??"  " A  R4,496.3    @`$  c x V??" " A  ZForeign securities @`  c  V??"  " O28.0  @`  c  V??"   " R9,100.2    @`  c t V??"  " NStocks @`  c  V??"   O28.8  @`  c   V??"    R9,386.5    @`  c  V??"   MBonds @`  c  V??"   N7.2  @`   c  V??"    R2,349.5    @` ! c 8 V??"   T Cash and eq.   @`B " # lo ??B + # lo ??B , 3 ro??B / 3 ro??B  # l1 ??  B  # l1 ??  B  3 ro??B  3 ro??B  3 ro??B  3 ro??B  3 ro??"B  3 ro??"B  3 ro??"A B  3 ro??"A B  3 ro??A ` B   3 ro??A ` B  3 ro??`  B  3 ro??`  B  3 ro??  B  3 ro??  B  3 ro??  B  3 ro??  B   3 ro?? B % 3 ro??  1 C x V??" t JGIAJ, Fact Book 2005 2aH  0޽h ? 3333___PPT10i._d+D=' = @B +J2 h1ZK0 I1A170(  ~  s *! Ih  ! /   #"6* '''&'''&'  S ~؝V??"`   O20.3  @`  S ~h|V??"`   R6,589.5    @`  S ~V??"`  PEquities   @`  S ~h.V??"`   O79.7  @`  S ~=V??"`   S 25,946.6    @`   S ~FV??"`  YTotal Liabilities @`   S ~4PV??"` OWT(%) @`   S ~ V??"`i  YOther Liabilities @`  S ~&V??"`  P100.0  @`  S ~ 9V??"`  S 32,536.1    @`(  S ~lV??"`  dTotal Liabilities & Equities @`B  # lo ??B   # lo ??B  # l1 ??  B  # l1 ??B ( 3 ro??B * 3 ro??B  3 ro ??  B ʼ 3 ro ??  B ؼ 3 ro??B ܼ 3 ro??B ݼ 3 ro??B  3 ro??B  3 ro??BB  3 ro??BB  3 ro??Bi B  3 ro??Bi B  3 ro??i  B  3 ro??i  B  3 ro??  B  3 ro??  B  3 ro??  B  3 ro??  B  3 ro?? B  3 ro??  / C x V??" F JGIAJ, Fact Book 2005 2aH  0޽h ? 3333___PPT10i._:+D=' = @B +-i2ZK0 ,$(     0? pG  H  0޽h ? 3333___PPT10i._+D=' = @B + h3ZK0 <(  ~  s *d Ih  G ~  s *pR C  H  0޽h ? 3333___PPT10i.]pb+D=' = @B + h4ZK0 0<(  ~  s * Ih   ~  s *؇ C  H  0޽h ? 3333___PPT10i.]+D=' = @B + h5ZK0 P<(  ~  s *( Ih   ~  s *蕷 /C  H  0޽h ? 3333___PPT10i.]+D=' = @B + h6ZK0 p<(  ~  s *t; Ih  ; ~  s *L; C ; H  0޽h ? 3333___PPT10i.]p+D=' = @B + h7ZK0 <(  ~  s * Ih   ~  s * Ci  H  0޽h ? 3333___PPT10i. ^W+D=' = @B +-i8ZK0 ,$(     0 pG  H  0޽h ? 3333___PPT10i._+D=' = @B + h9ZK0 <(  ~  s * Ih   ~  s *X C  H  0޽h ? 3333___PPT10i.]Ȱ+D=' = @B + h:ZK0 <(  ~  s *L Ih   ~  s *| C<  H  0޽h ? 3333___PPT10i._+D=' = @B +P h<ZK0 OG0 (  ~  s *p Ih   ~  s *D C  8 RD Y  R   (1 V??"`TE f  HPersonal Accidenta   4 V??"`R d  8WCa  s 7 V??"`RdY FMedical, Nursinga   : V??"`D   HGeneral Liabilitya   6 V??"`   =Life Rea%   s |B V??"`Y UOverseas Travel*ca^    xE V??"` t< BCurrent year s earned premium 8%,"ae8   s J V??"` z  p:An average of run off results in relation to Case reserves;;a   c 0W??vsVerdana" e dm8   s N V??"`z   p:An average of run off results in relation to Case reserves;;a^   R V??"`t<  BCurrent year s earned premium 3%,"ae  c 0W??vsVerdana" d8 T"  dT   c W >??"`T"f` 9BILa  c \ >??"`"` 9PDLa  c Z >??"`Ug  8PDa  c b >??"`  ;Misc.a   c @[ o??"`3 @ Automobile  aH  0޽h ? 3333___PPT10i.]C+D=' = @B +x h=ZK0 woP(  ~  s *Tu  Ih   ~  s *(v        C xpw  V??" ] O U(JP\Bln; +addition, -release)(2a  C x@|  V??"   JGIAJ, Fact Book 2005 2a   3 rA V??" ]iH  0޽h ? 3333___PPT10i.] +D=' = @B +-i>ZK0 ,$p$(  $ $  0  pG   H $ 0޽h ? 3333___PPT10i._+D=' = @B + h?ZK0 ,<(  ,~ , s *  Ih   ~ , s *Č  C   H , 0޽h ? 3333___PPT10i.]+D=' = @B + h@ZK0 4<(  4~ 4 s *<  Ih   ~ 4 s *  C   H 4 0޽h ? 3333___PPT10i.]8*+D=' = @B +E hAZK0 D<<(  <~ < s *  Ih    < c Ԟ V??"`'wm FDomestic directa < c \ V??"`@ m EForeign directa  < c | V??"` m KDomestic reinsurancea  < c  V??"`m JForeign reinsuranceaX < s  PFPFԔ??"`C  JTail length measure Paid loss incurred in recent two years / All paid loss*Ka7c < s  PFPFԔ??"`   tMateriality measure The unit s paid loss / All paid loss*;a(c"  <@  ZG*HuI,V???tv"  <  ZG*H"mI"V??tv"  <  ZG*HIB7V??tv "  <  ZG*H*I-V??tv  < s GHIV??m m  < S ~ |??"`u% HStatistical methoda < S ~ |??"`u= DFormula methodar <@ s GqH>IծV??m  k" <  ZG)HIV?? vk <  ZGJHIJV?? vvkB < s  1???"` }  <<90%aB < s  1???"` 9  =>=90%a < S 0W??1Verdana" g < S 0W??2Verdana" CSpB < s \ 1???"` 4   ;<1%aB < s < 1???"` <  <>=1%aH < 0޽h ?<< <<< <<< <<< <<< <<<<<<<<<< 3333___PPT10i._+D=' = @B + hJZK0 <(  ~  s *(  Ih   ~  s *   i   H  0޽h ? 3333___PPT10i.]@ +D=' = @B + hBZK0 D<(  D~ D s *d  Ih   ~ D s *   i   H D 0޽h ? 3333___PPT10i.]@ +D=' = @B +-N hCZK0 ,M$MILL(  L~ L s *T  Ih   ~ L s *(  C}   NJ  ` L #"6*    ) L  P V??"  M878 @`) L  L? V??"  M671 @`)  L  ? V??" c M449 @`)  L  ? V??" ; c M199 @`' L  4? V??"  ;  K7 @`3 L  }? V??"    W Loss reserves @`( L  ? V??"   L90 @`) L  l? V??"   M232 @`) L  ? V??" c  M396 @`) L  ? V??" ; c M572 @`) L  V??"  ;  M695 @`9 L  V??"     ]Cumulative payments @`) L   V??"    M968 @`) L  V??"    M903 @`)  L  V??" c   M845 @`) "L  V??" ;  c  M771 @`) $L  V??"   ;  M702 @`A %L  V??"     eEstimate of cumulative loss @` 'L  V??" 2   B @` )L  _V??" 2   B @` +L  _V??" c2   B @` -L  _V??" ; 2 c  B @`) /L  _V??"  2 ;   M702 @`6 0L  Ȥ^V??"  2    ZFour years later @` 2L  p%^V??" U 2  B @` 4L  @^V??" U 2  B @` 6L  $^V??" cU 2  B @`) 8L  x\9V??" ; U c2  M771 @`) :L  c9V??"  U ; 2  M697 @`7 ;L  |l9V??"  U  2  [Three years later @` =L  pu9V??" x U  B @` ?L  ą9V??" x U  B @`) AL  9V??" cx U  M845 @`) CL  9V??" ; x cU  M776 @`) EL  9V??"  x ; U  M692 @`5 FL  9V??"  x  U  YTwo years later @` HL  Ԥ9V??"  x  B @`) JL  9V??"  x  M903 @`) LL  9V??" c x  M840 @`) NL  9V??" ; cx  M785 @`) PL  @9V??"  ; x  M673 @`> QL  H9V??"    x  bOne year later" @`) SL  9V??" :  M968 @`) UL  9V??" :  M920 @`) WL  $9V??" c:  M823 @`) YL  hV??" ; :c  M790 @`) [L   V??"  :;  M680 @`a \L  |V??"  :  ;Loss reserves and paid loss at the end of the accident year<< @`* hL  ̥fV??" `: N2001 @`* iL  ֥fV??" `: N2000 @`* jL  hޥfV??" c`: N1999 @`* kL  lfV??" ; `c: N1998 @`* lL  ٥fV??"  `; : N1997 @`3 mL  4fV??"  ` : W Accident year @`B nL 3 ro ?? ``B pL # l1 ??   B qL # lo ?? B rL # l1 ?? ` B }L 3 ro ?? `  B L 3 ro ??` B L # lo ??  B L # lo ?? B L 3 ro ??   B L # l1 ??; `; B L # l1 ??c`cB L # l1 ??`B L # l1 ??`B L # l1 ?? ::" L C xS V??" w l6Example of the Claims development triangle (unit arb.)7 27aH L 0޽h ? 3333___PPT10i.|_Pn+D=' = @B +- hDZK0 ,,00T~,(  T~ T s * Ih   ~ T s *4ĥ CC  *  T #"."S    T C xV??" g L10 @`  T C xV??" Zg L50 @`  T C xV??" M Z L60 @`  T C xV??"  M  M120 @`   T C xV??"   N2003 @`   T C xV??" g  N%5 @`   T C xǫV??" Z g L60 @`   T C xЫV??" M Z L65 @`   T C x٫V??"   M  M120 @`  T C xV??"   N2002 @`  T C xV??" g   K5 @`  T C xV??" Z g  L55 @`  T C xV??" M Z  L60 @`  T C x,V??"   M  M120 @`  T C xV??"    N2001 @`  T C xV??" g   N%5 @`  T C x"V??" Z g  L55 @`  T C x+V??" M Z  L60 @`  T C x4V??"   M  M110 @`  T C xd&V??"    N2000 @` T C xHFV??" g   P%90 @`  T C xOV??" Z g  L40 @`  T C xWV??" M Z  L50 @` T C x$aV??"   M  B @`  T C xjV??"    N1999 @` T S ~rfV??" Z g  W Loss reserves @` T S ~|fV??" M Z  S Paid loss   @`  T S ~fV??" g  YRun off results @`4 !T S ~fV??" M g  p&Accidents incurred in previous periods'' @`% "T S ~dfV??"  M  aBeginning loss reserves @` #T S ~ĉfV??"    U Fiscal year   @`B $T 3 ro ??B %T # l1 ??  B *T # lo ??B ,T # l1 ??  B -T # l1 ??M M B .T # l1 ??ggB 0T # l1 ??Z ZB 1T # l1 ??M g B >T # lo ?? B +T 3 ro ?? B OT # lo ?? B /T 3 ro ??  2T C x, V??" lwS  `*Example of the Run off results (unit arb.)+ 2+aH T 0޽h ? 3333___PPT10i._P2+D=' = @B +-iEZK0 ,$P\(  \ \  0,- pG  H \ 0޽h ? 3333___PPT10i._+D=' = @B + hFZK0 pd<(  d~ d s *,/ Ih   ~ d s *> C  H d 0޽h ? 3333___PPT10i. ^Y+D=' = @B + hGZK0 l<(  l~ l s *X Ih   ~ l s *, C  H l 0޽h ? 3333___PPT10i.^U)+D=' = @B + hHZK0 t<(  t~ t s * Ih   ~ t s *` C  H t 0޽h ? 3333___PPT10i.] һ+D=' = @B +iIZK0 |6(  |~ | s * pG  x | c $h     H | 0޽h ? 3333___PPT10i.] +D=' = @B +D3 0 T(  d  c $lD`  ;  <7; "`3_u  ;  H  0af ? 3380___PPT10.^ 7D4 0  T(  d  c $lD`    < "`3_u    H  0af ? 3380___PPT10.5`k&85 0 @H(  d  c $lD`    0  "`3_u    H  0af ? 3380___PPT10.6``86 0 `H(  d  c $lD`    0T "`3_u    H  0af ? 3380___PPT10.^ 87 0 H(  d  c $lD`    0 "`3_u    H  0af ? 3380___PPT10.^ 88 0 H(  d  c $lD`    0 "`3_u    H  0af ? 3380___PPT10.^pFz89 0 H(  d  c $lD`    0L "`3_u    H  0af ? 3380___PPT10.=`g!8: 0 H(  d  c $lD`    0xv "`3_u    H  0af ? 3380___PPT10.>`~w8; 0 H(  d  c $lD`    0  "`3_u    H  0af ? 3380___PPT10.>`8< 0  H(  d  c $lD`    0< "`3_u    H  0af ? 3380___PPT10.^pD= 0 @T(  d  c $lD`    <$ "`3_u    H  0af ? 3380___PPT10.^BL 8> 0 `H(  d  c $lD`    0) "`3_u    H  0af ? 3380___PPT10.^BL 8? 0 H(  d  c $lD`    0. "`3_u    H  0af ? 3380___PPT10.^pgD8@ 0 H(  d  c $lD`    0$4 "`3_u    H  0af ? 3380___PPT10.^гZ_8A 0 H(  d  c $lD`    0X9 "`3_u    H  0af ? 3380___PPT10.C`g8B 0 H(  d  c $lD`    0> "`3_u    H  0af ? 3380___PPT10.^І^8C 0 H(  d  c $lD`    0C "`3_u    H  0af ? 3380___PPT10.G`H8D 0 @H(  d  c $lD`    0H "`3_u    H  0af ? 3380___PPT10.^ ~8E 0 ` H(   d   c $lD`     0(N "`3_u    H   0af ? 3380___PPT10.^P=8F 0 (H(  (d ( c $lD`   ( 0\S "`3_u    H ( 0af ? 3380___PPT10.N`pӷ8G 0 0H(  0d 0 c $lD`   0 0X "`3_u    H 0 0af ? 3380___PPT10.^2DH 0 8T(  8d 8 c $lD`   8 <] "`3_u    H 8 0af ? 3380___PPT10.^ۖ8I 0 @H(  @d @ c $lD`   @ 0b "`3_u    H @ 0af ? 3380___PPT10._78J 0 HH(  Hd H c $lD`   H 0,h "`3_u    H H 0af ? 3380___PPT10.^8K 0  PH(  Pd P c $lD`   P 0`m "`3_u    H P 0af ? 3380___PPT10.T`78L 0 @XH(  Xd X c $lD`   X 0r "`3_u    H X 0af ? 3380___PPT10.T`Tq8M 0 ``H(  `d ` c $lD`   ` 0w "`3_u    H ` 0af ? 3380___PPT10.N`pӷ8N 0 hH(  hd h c $lD`   h 0| "`3_u    H h 0af ? 3380___PPT10.^]8O 0 pH(  pd p c $lD`   p 00 "`3_u    H p 0af ? 3380___PPT10.X_tl8P 0 xH(  xd x c $lD`   x 0d "`3_u    H x 0af ? 3380___PPT10.^RV8Q 0 H(  d  c $lD`    0 "`3_u    H  0af ? 3380___PPT10.^{sGVR 0 f(  d  c $lD`    0̑ "`3_u   <` H  0af ? 3380___PPT10.^r$09BsQS]Od_1h1mor\DclDy.jƘeɥa!a!a-m-m-y9y9y03eOh+'08U$ 0< \ h t*International Reserving Reserves in Japant The CAS Spring meeting 2006he CAS, loss reservesiAS,Blendsslen129Microsoft PowerPointg 2@ПQn@P̬]@5i;GSg  )'    """)))UUUMMMBBB999|PP3f333f3333f3ffffff3f̙3ff333f333333333f33333333f33f3ff3f3f3f3333f33̙33333f333333f3333f3ffffff3f33ff3f3f3f3fff3ffffffffff3ffff̙fff3fffff3fff333f3f3ff3ff33f̙̙3̙ff̙̙̙3f̙3f333f3333f3ffffff3f̙3f3f3f333f3333f3ffffff3f̙3f3ffffffffff!___www4'A x(xKʦ """)))UUUMMMBBB999|PP3f3333f333ff3fffff3f3f̙f3333f3333333333f3333333f3f33ff3f3f3f3333f3333333f3̙33333f333ff3ffffff3f33f3ff3f3f3ffff3fffffffff3fffffff3f̙ffff3ff333f3ff33fff33f3ff̙3f3f3333f333ff3fffff̙̙3̙f̙̙̙3f̙3f3f3333f333ff3fffff3f3f̙3ffffffffff!___wwwG㔽MMFMMGG FoMGGGFFuGGGF EM Go oGG㓽Foݻܻݻ»Ẻ8888C88Yz888888zýCCCCCCCCCCCCCCCCCmCCCmCmCmCmmmCmmmmmmmmmmmmmmm88zz8C88Yz888zý8C88YzýG88zzGGCCCݼCC՜.+,0   (08 @ u presentationoʂɍ킹W   (Ariallr oSVbNVerdana MS UI GothicTahoma WingdingsPalatino LinotypeBlendsLoss Reserving in JapanAgendaNon-life market in JapanWorld premium volume rankingNon-life insurers in JapanOperating LinesAssetsLiabilities & Equities$Insurance Regulation and AccountingInsurance RegulationChange of RegulationOngoing changesInsurance AccountingRecent revisions of SAP!Loss reserving (prior revisions)"Prior loss reserves - Recognition!Prior loss reserves - Estimation$Prior loss reserves - IBNR formulaePrior loss reserves - features Loss reserving (post revisions)New loss reserves - stablesNew loss reserves - changesScreening of IBNR ReservesReserving methodDisclosure of Loss ReservesClaims DevelopmentRun off ResultsRole of Actuaries$Role of actuaries (prior revisions)#Role of actuaries (post revisions)4The practice standards for the appointed actuariesThank you for listening gpĂtHgfUC ev[gXCh ^Cg _C    !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWYZ[\]^_abcdefgnRoot EntrydO)PictureschCurrent User`SummaryInformation(-hUPowerPoint Document(gDocumentSummaryInformation8X