Annual Report 2010

IntroductionIn fiscal 2009, the Japanese economy grew moderately, in step with the recovery of the global economy from the financial crisis, due in part to the effect of robust exports to Asian countries and various economic measures. however, a full-scale recovery still failed to materialize. The entire Japan Agricultural Cooperatives Group (JA Group) advocates the “restoration of the agricultural sector and the revival of regional communities” as its action policy. The aims of this policy are to ensure food safety and reliability for consumers, while responding to the diversifying needs of cooperative members, and to restore vitality to the regional agricultural sector and communities. To that end, we have decided to promote the reform of JA management. At the same time, the United Nations resolved to declare 2012 the International Year of Cooperatives at its General Assembly in December 2009. We believe it is necessary to take advantage of this opportunity to adopt initiatives to reconfirm our engagement in symbiotic socioeconomic activities based on the power of cooperation, rather than economic activities excessively focused on market fundamentalism, which ultimately triggered the financial crisis. With regard to the cooperative insurance business, cooperative members and customers have steadily followed the path of mutual aid over 60 years since operations first commenced, based on the principle of “one for all, all for one,” as a non-profit cooperative enterprise conducted by JA. The operating environment has changed dramatically, but Zenkyoren will continue to provide insurance services that meet diverse needs and conduct business faithfully so that all cooperative members and customers can use its services with a sense of assurance.Initiatives and Business Development in Fiscal 2009Business DevelopmentsIn fiscal 2009, which marked the final year of our previous three-year business plan (2007–2009), we actively expanded our business activities, based on the slogan “Providing comprehensive coverage of life, homes, and automobiles through the thorough implementation of the 3Q Visit Project (person-to-person visits to all members and policyholders) and create a solid business foundation.” As a result, with regard to new life insurance policies, we achieved our nationwide sales target, as savings-type Whole Life Insurance products performed well due to the revision of schemes and sales of single-premium Endowment Life Insurance recorded good results, as in the previous year. Claims paid, including both payments at maturity and upon occurrence of an accident, totaled ¥3,746 billion. These payments provided for life security of members and customers and helped them to recover from natural disasters such as earthquakes and damage caused by windstorms and floods. Fiscal 2010 is the first year of the current three-year business plan (2010–2012). Under the slogan of “Aiming for 100% communication between Zenkyoren, its members and its customers under JA cooperative insurance, which links regional communities with assurance and trust,” we will strive to provide comprehensive security that precisely meets the needs of all.MESSAGE FROM THE MANAGEMENTZenkyoren Aims to Further Bolster Business Development Based on the Viewpoints of Cooperative Members and Customers02 ANNUAL REPORT 2010