Insurance groups in the United States and elsewhere are hoping that Japan will change the privatization of Japan Post Insurance to be more to their liking.
The Democratic Party of Japan, which has defeated that country’s Liberal Democratic Party, has made good on campaign promises to stop current postal service privatization efforts and find ways to service the public better.
The Japanese Cabinet set the rules for the review in a decision release in October.
Insurance groups around the world, including insurers in Japan, have complained that Japan’s long-running effort to privatize its huge Kampo postal life insurance system could end up giving the privatized postal life insurers unfair advantages over ordinary private insurers.