The 630th Meeting of the Association’s Board of Directors was held on 19 June 2026. The main decisions of the Meeting are as follows;

1. The 76th Ordinary General Meeting of the Members

The Board approved the convening of the 76th Ordinary General Meeting of the Members at the Kaiun Club, Tokyo at 16:00 on 21 July 2026.

2. Agenda of the 76th Ordinary General Meeting of the Members

The Board approved the following report and proposals for inclusion in the agenda of the Ordinary General Meeting of the Members.

Report:
The Business Report for the 76th business year (from 1 April 2025 to 31 March 2026);

Proposals:

1. To approve an inventory, balance sheet, income and expenditure account and proposals for the disposition of the surplus for the 76th business year (the period from 1 April 2025 to 31 March 2026);
2. To elect members to the Board of Directors, and to appoint the auditors;
3. To approve the payment of retirement bonus to retiring director;
4. To provide an authorisation to the Board of Directors for the handling of decisions at the General Meeting of the Members;

Details of the above items can be found in the “Notice of the 76th Ordinary General Meeting of the Members”, which will be sent by post to the Members, along with enclosures.

The outline of the financial results for the 2025 business year (the above Proposal 1) is as follows:

In the 76th business year, uncertainty in the international economy remained high the escalating situation in the Middle East caused by the deterioration of the situation in Iran, as well as the tariff issues by the Trump administration in the US, and various policies that greatly affect maritime transport and supply chains. Under these circumstances, reinsurance premiums were expected to remain at a high level and global inflation continued. Consequently, a general increase of 5% was implemented for ocean-going Owners' entries, Charterers' entries and FD&D entries, and a 10% general increase was implemented for Naiko Class entries for the 2026 policy year renewal.

The net insurance income was JPY20.21 billion, although this decreased from the previous year by JPY2.38 billion due to the increase of the reinsurance premium as well as the decrease of the premium income. Investment income increased by JPY3.81 billion to JPY5.70 billion, due to an increase in trust investment gains and a foreign exchange gain by the depreciation of the yen. Net insurance claims payments decreased by JPY1.19 billion to JPY15.00 billion, reflecting the relatively calm situation in the occurrence of claims.

As a result of the above, we have recorded an ordinary surplus of JPY8.54 billion, with a net surplus after tax of JPY6.22 billion. Consequently, we increased the reserve by JPY7.16 billion from the previous year to JPY48.27 billion.

3. Election of Members to the Board of Directors

Regarding Proposal 2 for the 76th Ordinary General Meeting of the Members, "To elect members to the Board of Directors, and to appoint the auditors", it was resolved to recommend the candidates in the attachment.

4. Finally

In the 2025 business year, we formulated a three-year medium-term management plan with the objective of obtaining an S&P rating of A- or higher, and to achieve this, we have worked on 1) strengthening financial soundness, 2) stabilizing income and expenditures in our insurance business, and 3) enhancing our business competitiveness. In the 2026 business year, as the second year of the medium-term management plan, we aim to steadily advance this year’s initiatives to bridge them into the final year.

We are committed to continuously enhancing our operations and services to remain your first choice of Club, and we sincerely appreciate your continued support and cooperation.

Finally, we extend our best wishes to our Members for ongoing development and safe operations.