NU Online News Service, Aug. 12, 2004, 3:30 p.m. EDT
The American Council of Life Insurers has given a mixed review to the Japanese government’s preliminary plan to privatize Japan Post.[@@]
“We are certainly encouraged by several elements of the plan, but we are also troubled by some portions containing ambiguous language,” says Frank Keating, president and chief executive of the ACLI, in Washington.
The Council on Economic and Fiscal Policy, which advises the Prime Minister of Japan, developed the plan for privatizing Japan’s giant postal businesses, including its life insurance unit, Kampo, the world’s largest life insurer. The CEFP produced a preliminary draft of its plan Aug. 6.