The Japan Financial Services Agency (FSA) has initiated measures to facilitate the entry of small and medium enterprises (SMEs) into the non-life insurance market. This decision follows a series of scandals in the insurance sector, prompting the FSA to address issues of market concentration. The agency plans to expand the scope of insurance products and provide guidelines for necessary premiums and contract terms to lower development costs for new entrants. Additionally, the government has proposed raising the foreign direct investment (FDI) limit in the insurance sector to 100%, inviting public comments on the matter. The FSA is also focusing on the non-life insurance market, particularly fire insurance, which has been operating at a loss for years. The total insurance payouts have increased by 45% over the past decade, reaching 972.7 billion yen in the fiscal year 2023. Furthermore, the government is set to introduce the Insurance Amendment Act in Parliament, which may allow insurance agents to represent multiple insurers, thereby removing existing restrictions. This change is expected to benefit major players in the industry, such as the Life Insurance Corporation (LIC), which relies heavily on its agency network for business.