Dai-ichi Mutual Life Insurance Co. did not pay some 115 million yen in dividends to its policyholders in a total of about 47,000 cases between fiscal 1984 and fiscal 2005, company officials said Saturday.
The nonpayment during the 22-year period to last March 31 was blamed on computer error, the officials said.
A total of 92 million yen in dividends related to 45,000 riders attached to insurance contracts should have been paid between fiscal 1987 and fiscal 2003. The riders were designed to provide coverage for hospitalization costs.
The remaining 23 million yen in unpaid dividends concerned 1,900 life insurance contacts.