
Article 1 
The solvency regime in force in Japan that applies to the reinsurance activities of undertakings with their head offices in Japan and regulated by the Insurance Business Act shall be considered as temporarily equivalent to the regime laid down in Title I of Directive 2009/138/EC.
The temporary equivalence referred to in the first paragraph shall end on 31 December 2020.
Article 2 
The solvency regime in force in Japan that applies to the insurance activities of undertakings with their head offices in Japan and regulated by the Insurance Business Act shall be considered as provisionally equivalent to the regime laid down in Chapter VI of Title I of Directive 2009/138/EC.
The provisional equivalence referred to in the first paragraph shall be granted for a period of 10 years from 1 January 2016.
Article 3 
This Decision shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.
Done at Brussels, 26 November 2015.
For the Commission
The President
Jean-Claude JUNCKER