Fair competition in providing group insurance program to banks
The EBC continues to be concerned by the strong influence of Japanese insurers over Japanese banks as their major shareholders. The EBC appreciates the monitoring actions taken by the FSA on this topic and wishes for the FSA to continue its attention as the concerned influence still exists. The EBC firmly believes that the competition in this area should be based on the quality of products and services rather than on the shareholding relationship which is irrelevant to the interest of Japanese consumers.
- The FSA should carefully ensure that competition is based on fair comparison of offers, and is not biased by pre-existing shareholding relationships.