AFIR ERM Webinar Series: Exploring the Asian Solvency Framework

AFIR-ERM Section Webinar Series: Exploring the Asian Solvency Framework

Understanding the solvency frameworks in Japan and Korea
This webinar will explore recent developments in insurance solvency regulations across Asia, focusing on Japan’s Economic Value-Based Solvency Regulation (ESR) and Korea’s K-ICS. We will examine the design, implementation status, and key challenges of each framework. In Japan, preparations are underway for the implementation of ESR in the fiscal year ending March 2026, with key issues including strengthening governance, managing interest rate risk, and enhancing disclosure practices. In contrast, Korea has already adopted K-ICS, facing practical challenges such as alignment with IFRS 17 and disparities in company readiness. The session will also discuss how both systems align with international capital standards (ICS) and the strategic responses required from insurers. It will provide practical insights for industry professionals navigating this period of regulatory transition.

Speakers:
Naoki Sunamoto
He is a board member, Director and Executive Officer of Fukoku Mutual Life Insurance, in charge of the ERM Department and the Financial Reporting and Actuarial Department. He has also served as the board member of IAJ since 2017 and as the board member of IAA AFIR ERM section since 2021.

TK Lee
He is a managing director and head of APAC at Aon PathWise Solutions Group. He is also an adjunct professor at Soongsil University. He is FSA and has extensive experiences in pricing, valuation, and risk management both in Canada and South Korea.

Session Moderator: Taiga Yokoyama
He is a senior financial engineer at Mizuho-DL Financial Technology, where he is engaged in providing investment consulting services and developing investment strategies for institutional investors in Japan. Since 2023, he has been a board member of the IAA AFIR-ERM section and serves as the chair of the AFIR study group of IAJ.