annual report 2016 - ソニーライフ・エイゴン生命保険 - · pdf file2 aegon sony...
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2 0 1 6Annual Report
OUR CREDOThe SPIRIT of AEGON Sony Life
Our pledge to customers
By providing high-quality consulting services we place our customers needs first, while always staying loyal to the central purpose of life enriching annuities. In order to earn our customers trust we will adhere to the clear guidelines outlined in our compliance programs. We vow to continuously improve our operations to ensure that we are creating long-term value, while also supporting our growth ambitions as a company.
Our pledge to business partners
We will do our utmost to invest in our relationships and develop trust and sustainable alliances with our business partners. We vow to create ideal partnerships that allow us to think, synergize and progress together.
Our pledge to ourselves
We will pursue our shared ambi-tions and ideals in the spirit of mutual respect. We take great pride in and are committed to our open and dynamic corporate culture. Most importantly, we vow to constantly remain agile and passionate about fostering a culture of innovation andentrepreneurship in order to realize our full potential.
We are determined to achieve our dream of broadly sharing life enriching annuities with all.
Current and future employees of AEGON Sony Life Insurance Co., Ltd.
We aspire to help create a society in which people can feel really happy about living a long life.
We are one team motivated to realize this common dream. Our mission is to assist our customers in achieving financial security, comfort and ultimately peace of mind. We endeavor to do this with the help of our business partners who share our same core values and determined spirit. In keeping our long-term promises to every customer, and by filling the gap between what social pension systems provide and what people truly need to retire with dignity, we enable people to live long and happy lives.
Starting today, we commit ourselves to transforming the traditional annuity into a truly life enriching annuity.
In order to fulfill our mission, we are committed to transforming the traditional annuity into a life enriching annuity. A life enriching annuity is one that meets our customers expectations throughout their lifetime. Moreover, it has the potential to help our customers reach their financial goals at different stages of life, enabling them to achieve their dreams while having a sense of security about their future. We are confident that by making available life enriching annuities we are helping to create a stronger sense of financial security for society; making it possible for those who rely on us to experience greater peace of mind.
ContentsMessage from Management 2
Shareholders 8
Corporate Governance Internal Control System 16 Risk Management Structure 16 Social Contribution Activities 18
Customer Satisfaction Initiatives to Improve Customer Satisfaction 10 Status of New Product Development and Product Lineup 12 Information Disclosure 14 Status of Agencies 15
Business Results FY2015 Overview 4 Summary of Selected Performance Indices 5 FY2015 Results 6
Corporate and Financial Data 19
Note: This is an English-language version of the original Japanese-language disclosure of AEGON Sony Life Insurance Co., Ltd. published in July 2016. This condensed English-language version was prepared by AEGON Sony Life Insurance Co., Ltd. solely for the convenience of non-Japanese readers. If there are any discrepancies with the Japanese version please note the original Japanese version is the official disclosure of AEGON Sony Life Insurance Co., Ltd.
Published September 2016 (Note: Original Japanese version published July 2016) AEGON Sony Life Insurance Co., Ltd. Corporate Planning Division, Executive Office Annual Report 2016 1
Message from Management
Management PhilosophyAegon Sony Life values its customers, business partners, employees, shareholders and the society in which it operates and offers high-quality annuities and services as an expert in annuities, with the aim of becoming the company most trusted by customers
Management Policy Develop expertise in the retirement benefits market by offering annuities and services that address cus-
tomers various pension needs.
Manage with the innovation to address newly emerging customer needs by understanding changes in the environment and by continually and aggressively tackling the challenge of providing high-quality services that satisfy customers.
Respect employees individual characteristics and maintain a resilient and vigorous organization in which they can optimize their capabilities and aptitudes.
Fulfill the Companys corporate social responsibilities by accurately managing various risks and conduct-ing sound management in compliance with laws and regulations.
Akira NishinoPresident,
Representative Director
Frans F. F. de Beaufort Executive Chairman, Representative Director
AEGON Sony Life Insurance Co., Ltd. Annual Report 20162 3AEGON Sony Life Insurance Co., Ltd.
Thank you very much for your continued
choice and patronage of Aegon Sony Life.
Aegon Sony Life is a life insurance company
founded in December 2009 as a joint venture
between Sony Life and Aegon. Both
companies share comparable values and the
aim to leverage each others know-how in
order to provide solutions that can help to
secure the financial needs of Japanese
customers in retirement.
Aegon is a global enterprise, operating in
more than 20 countries including the
Americas, Europe and Asia, with its core
businesses centered on life insurance,
annuities and asset management. Aegon
Sony Life works closely with each of its
parent companies in order to achieve its
goals. Aegon Sony Life leverages Aegons
sophisticated know-how of retirement
products and bancassurance and the quality
services of Sony Life, which have been
obtained through consulting-based sales
focusing on the life plans of customers. This
knowledge and experience enables the
Company to provide innovative, high-quality
products and services to its customers in
Japan.
Starting today, we commit ourselves to transforming the traditional annuity into a truly life enriching annuity.
Japanese society is facing pension
challenges, with a rapidly aging society,
declining birth rate, increased longevity and
declining government pension subsidies.
These factors place a strain on the countrys
resources and particularly influence
postretirement financial needs making it all the
more important for individuals to prepare their
own financial protection for their post-
retirement lives.
Aegon Sony Life is committed to help people take responsibility for their financial future and this has never been more important than today.
People are living longer than ever, which is a
case for celebration. We aspire to help create
a society in which people can feel really happy
about living a long life. We are devoted to
being an expert in annuity products and, as
mentioned in its Credo since Aegon Sony Life
started its business in 2009, Transforming
the traditional annuity into a truly life enriching
annuity. Aegon Sony Life intends to do this
by providing customers with high-quality
financial products and services that can help
them realize their dreams. Aegon Sony Life
strives to contribute to a society where as
many customers as possible can be freed of
post-retirement-related anxieties and can feel
the joy in living a long life.
We appreciate your business and ask for
your continued support.
July 2016
Akira NishinoPresident, Representative Director
Frans F. F. de Beaufort Executive Chairman, Representative Director
AEGON Sony Life Insurance Co., Ltd. Annual Report 20162 3
Business Results
FY2015 Overview
Operating Environment
After the strong FY2014 Nikkei performance, FY2015 has, in contrast, provided challenging market conditions. The
economy and equity markets have struggled to keep pace in FY2015, with the global drop in equity prices in
August. The Nikkei index started out FY2015 by rising to 19,034.84 by the start of April and the upward trend
continued through July. However, at the end of August it fell by 9.2% and continued to adjust downwards to mid
September. In the second half of the fiscal year, the Nikkei showed another upward trend in November, followed by
a downtrend towards the end of the fiscal year. The Nikkei closed at 16,758.67 on the 31st of March. In FY2015,
The Bank of Japan continued its qualitative and quantitative monetary easing and in addition, introduced a negative
policy rate in January of 2016. As a result, the long term interest rate (10 year JGB yield) became negative for the
first time ever in FY2015.
Operating Results
Aegon Sony Life has been working to provide customer-centered service, improve its business stability and further
enhance its product portfolio to achieve consistent growth and development as a trusted company that customers
choose. The Company successfully launched a new Japanese yen denominated variable annuity in October 2015,
with guaranteed minimum and accumulation benefits. In order to better match customers needs and the solutions
Aegon Sony Life provides, the Company worked towards the launch of its first foreign currency (USD and AUD)
denominated product