T&D HOLDINGS INC. [Reference] Non-Consolidated Financial Data of the Three Life Insurance Companies for the Three Months Ended June 30, 2017
Sales Results (Individual Insurance and Annuities）
(Billions of yen)
Sum of Three Companies | Taiyo Life | Daido Life | T&D Financial Life | ||||||
Amount | Change | Amount | Change | Amount | Change | Amount | Change | ||
Annualized premiums of total policies | 1,496.1 | (2.3) (0.2%) | 630.2 | (6.3) (1.0%) | 750.2 | 2.4 0.3% | 115.6 | 1.5 1.4% | |
Third Sector products | 194.0 | 2.8 1.5% | 104.4 | 1.2 1.2% | 86.9 | 1.6 1.9% | 2.6 | (0.0) (0.6%) | |
Policy amount in force | 61,367.5 | (78.6) (0.1%) | 21,679.8 | (61.3) (0.3%) | 37,755.6 | (69.9) (0.2%) | 1,932.0 | 52.6 2.8% | |
Note: "Change" is presented in comparison with the previous fiscal year-end.
(Billions of yen)
Sum of Three Companies | Taiyo Life | Daido Life | T&D Financial Life | ||||||
Amount | Change | Amount | Change | Amount | Change | Amount | Change | ||
Annualized premiums of new policies | 26.6 | (6.9) (20.6%) | 6.4 | (5.0) (43.7%) | 16.3 | (3.8) (19.1%) | 3.8 | 1.9 108.6% | |
Third Sector products | 7.3 | (0.4) (6.0%) | 4.1 | (0.3) (6.8%) | 3.1 | (0.1) (5.9%) | 0.0 | 0.0 457.7% | |
New policy amount | 1,385.6 | (256.2) (15.6%) | 566.6 | (126.0) (18.2%) | 730.2 | (179.2) (19.7%) | 88.7 | 49.0 123.9% | |
Note 1. "Change" is presented in comparison with the same period of the previous fiscal year.
2. New policy amount includes increase from conversion.
(Billions of yen)
Sum of Three Companies | Taiyo Life | Daido Life | T&D Financial Life | |||||
Amount | Change | Amount | Change | Amount | Change | Amount | Change | |
Surrender and lapse rate | 1.49% | (0.01 points) | 1.60% | (0.03 points) | 0.79% | 0.07 points | ||
Surrender and lapse amount | 944.1 | (0.3) (0.0%) | 322.9 | (7.6) (2.3%) | 606.2 | 5.3 0.9% | 14.9 | 1.9 14.9% |
Note 1. "Change" is presented in comparison with the same period of the previous fiscal year.
2. "Surrender and lapse rate" is not annualized.
Summary of Operations
(Billions of yen)
T&D Holdings (Consolidated) | Taiyo Life | Daido Life | T&D Financial Life | |||||||
Amount | Change | Amount | Change | Amount | Change | Amount | Change | |||
Ordinary revenues | 457.2 | (30.9) (6.3%) | 208.1 | (11.8) (5.4%) | 238.3 | 1.6 0.7% | 58.4 | 3.2 6.0% | ||
Income from insurance premiums and others | 340.9 | (37.2) (9.8%) | 103.7 | (65.2) (38.6%) | 190.5 | 3.6 1.9% | 45.6 | 24.1 112.6% | ||
Investment income | 95.9 | 3.8 4.2% | 47.2 | (1.1) (2.5%) | 38.8 | (4.2) (9.8%) | 10.4 | 6.3 152.2% | ||
Interest, dividends and income from real estate for rent | 65.3 | 3.5 5.8% | 31.3 | 1.0 3.6% | 32.6 | 2.5 8.4% | 1.8 | (0.0) (1.9%) | ||
Other ordinary income | 20.3 | 2.4 13.5% | 57.2 | 54.6 （-） | 8.9 | 2.2 33.8% | 2.3 | (27.1) (92.1%) | ||
Ordinary expenses | 419.7 | (23.0) (5.2%) | 191.5 | (9.9) (4.9%) | 218.5 | 3.2 1.5% | 57.5 | 7.7 15.6% | ||
Insurance claims and other payments | 308.4 | (8.4) (2.7%) | 152.3 | (8.0) (5.0%) | 125.0 | 3.7 3.1% | 30.4 | (4.2) (12.3%) | ||
Provision for policy and other reserves | 19.0 | (3.4) (15.3%) | 0.0 | (3.1) (100.0%) | 51.9 | 6.0 13.1% | 21.1 | 21.1 （-） | ||
Investment expenses | 22.9 | (12.1) (34.6%) | 10.7 | 2.0 23.0% | 9.9 | (7.5) (43.0%) | 2.2 | (9.6) (80.9%) | ||
Other ordinary expenses | 17.0 | (1.6) (8.8%) | 8.3 | (1.2) (13.2%) | 4.8 | (0.0) (0.0%) | 0.4 | 0.0 25.2% | ||
Ordinary profit | 37.5 | (7.8) (17.4%) | 16.6 | (1.9) (10.3%) | 19.8 | (1.6) (7.6%) | 0.9 | (4.4) (83.2%) | ||
Extraordinary gains | 0.0 | (0.0) (61.6%) | - | - （-） | 0.0 | 0.0 （-） | - | - （-） | ||
Extraordinary losses | 3.6 | (4.4) (55.3%) | 0.7 | (3.8) (83.2%) | 2.7 | (0.6) (18.8%) | 0.0 | 0.0 65.3% | ||
Provision for reserve for policyholder dividends | 6.5 | (1.0) (14.4%) | 3.7 | (0.6) (14.9%) | 2.7 | (0.4) (13.6%) | (0.0) | (0.0) （-） | ||
Total income taxes | 7.9 | 3.1 66.1% | 3.4 | 1.3 68.0% | 4.1 | 2.6 177.8% | 0.2 | (1.0) (80.9%) | ||
Profit attributable to owners of parent | 19.4 | (5.5) (22.0%) | 8.6 | 1.1 16.1% | 10.2 | (3.1) (23.4%) | 0.5 | (3.5) (85.8%) | ||
Note 1. "Change" is presented in comparison with the same period of the previous fiscal year.
T&D Holdings' consolidated figures do not always correspond to the sum of the three life insurance companies' figures.
Simple sum of three companies' income from insurance premiums and others was ¥ 339.9 billion (down 9.9% compared to the same period of the previous fiscal year).
Extraordinary losses of ¥3.6 billion include provision for reserve for price fluctuations of ¥3.5 billion (Taiyo Life: ¥0.7 billion, Daido Life: ¥2.7 billion, T&D Financial Life: ¥0.0 billion).
The amount of net income is stated in the column of profit attributable to owners of parent for the three life insurance companies.
Other Indicators (1)
Core Profit
(Billions of yen)
Sum of Three Companies
Taiyo Life
Daido Life
T&D Financial Life
Amount
Change
Amount
Change
Amount
Change
Amount
Change
Core Profit
32.4
(11.2)
(25.8%)
9.8
2.0
25.5%
22.7
(1.1)
(4.8%)
(0.1)
(12.1)
（-）
Note 1. "Change" is presented in comparison with the same period of the previous fiscal year.
For the three months ended June 30, 2017, gains (losses) due to market exchange rate fluctuation pertaining to liabilities of foreign-exchange-rate-linked whole life insurance of (1.7) billion yen and gains (losses) due to cash surrender value fluctuation pertaining to MVA (market value adjustment) of (0.0) billion yen were deducted from the core profit of T&D Financial Life.
If the core profit of T&D Financial Life for the same period of the previous fiscal year was calculated the same way as the three months ended June 30, 2017, the amount would have been (1.1) billion yen, an increase of 0.9 billion yen from the same period of the previous fiscal year. If the core profit of sum of three companies for the same period of the previous fiscal year was calculated the same way as the three months ended June 30, 2017, the amount would have been 30.6 billion yen, an increase of 1.7 billion yen or +5.9% from the same period of the previous fiscal year.
Figures of net unrealized gains/losses on securities are those of securities with market value.
Net unrealized gains/losses on land, etc., are basically calculated based on the appraisal price. Less important properties are calculated based on the posted price.
Solvency Margin Ratio and Adjusted Net Assets
T&D Holdings | Taiyo Life | Daido Life | T&D Financial Life | ||||
Amount | Change | Amount | Change | Amount | Change | Amount | Change |
Solvency margin ratio | 771.6% | (77.0 points) | 1,226.2% | (26.4 points) | 1,376.1% | 80.5 points | |
Consolidated solvency margin ratio | 1,040.4% | (64.7 points) | 779.0% | (78.6 points) | 1,233.7% | (27.6 points) | |
Note 1. "Change" is presented in comparison with the previous fiscal year-end.
2. T&D Financial Life does not state consolidated solvency margin ratio because the company does not own subsidiary companies.
(Billions of yen)
T&D Holdings (Consolidated) | Taiyo Life | Daido Life | T&D Financial Life | |||||
Amount | Change | Amount | Change | Amount | Change | Amount | Change | |
Adjusted net assets | 2,656.3 | 63.7 | 1,051.2 | 15.7 | 1,383.6 | 29.1 | 188.0 | 0.0 |
Note: "Change" is presented in comparison with the previous fiscal year-end.
Other Indicators (2)
Unrealized Gains/Losses on Securities (General Account)
(Billions of yen)
Sum of Three Companies | Taiyo Life | Daido Life | T&D Financial Life | ||||||
Amount | Change | Amount | Change | Amount | Change | Amount | Change | ||
Unrealized gains/losses on securities | 1,224.8 | 61.7 | 589.0 | 26.4 | 538.2 | 35.5 | 97.5 | (0.3) | |
Domestic bonds | 729.7 | (6.7) | 360.7 | (1.5) | 303.3 | (3.9) | 65.5 | (1.3) | |
Domestic stocks | 318.9 | 32.8 | 132.0 | 13.2 | 186.8 | 19.5 | - | - | |
Foreign securities | 90.7 | 24.7 | 73.0 | 11.9 | 17.2 | 12.4 | 0.5 | 0.3 | |
Unrealized gains/losses on land, etc. | 59.9 | (0.2) | 22.1 | (0.1) | 37.7 | (0.0) | - | - | |
Note 1. "Change" is presented in comparison with the previous fiscal year-end.
Market Consistent Embedded Value (MCEV) [Estimate]
Quarterly MCEV results are estimates calculated partly using simplified methods and are not reviewed by third party specialists.
(Billions of yen)
T&D Life Group (Group MCEV) | Taiyo Life | Daido Life | T&D Financial Life | |||||
Amount | Change | Amount | Change | Amount | Change | Amount | Change | |
MCEV | 2,416.0 | 125.5 | 815.9 | 38.3 | 1,483.4 | 66.0 | 100.5 | 3.0 |
Note 1. "Change" is presented in comparison with the previous fiscal year-end.
2. Group MCEV is the sum of "MCEV of life insurance business: ¥2,388.8 billion" and "net asset value of business other than life insurance business: ¥27.1 billion."
(Billions of yen)
T&D Life Group (Sum of Three Companies) | Taiyo Life | Daido Life | T&D Financial Life | |||||
Amount | Change | Amount | Change | Amount | Change | Amount | Change | |
Value of new business | 32.1 | 25.0 | 10.4 | 5.6 | 20.5 | 18.0 | 1.1 | 1.3 |
Note: "Change" is presented in comparison with the same period of the previous fiscal year.
T&D Holdings Inc. published this content on 09 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 August 2017 06:06:03 UTC.
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