May 15, 2018

Daido Life Insurance Company

Press Conference Materials for the Fiscal Year Ended March 31, 2018

(1) Sales Results

(Millions of yen, %)

Fiscal Year Ended March 31, 2017

Six Months Ended September 30, 2017

Fiscal Year Ended March 31, 2018

Amount

% Change

Amount

% Change

Amount

% Change

Annualized premiums of new policies

93,728

19.4

33,900

(18.5)

78,405

(16.3)

Medical benefits, living benefits, and others

15,121

15.9

6,754

(3.0)

24,868

64.5

Annualized premiums of total policies

747,808

6.0

753,932

4.5

771,629

3.2

Medical benefits, living benefits, and others

85,363

12.1

88,942

10.9

103,673

21.4

Income from insurance premiums

766,336

2.3

388,448

1.9

790,852

3.2

Individual insurance and annuities

699,013

3.4

357,076

2.5

727,193

4.0

Group insurance and annuities

64,990

(8.4)

30,186

(3.7)

61,097

(6.0)

Policy amount in force

37,825,641

2.8

37,720,975

1.7

37,662,257

(0.4)

Annualized premiums of surrender and lapse

40,446

1.9

21,152

3.9

41,903

3.6

New policy amount

4,186,228

18.6

1,508,089

(20.2)

2,995,456

(28.4)

Surrender and lapse amount

2,372,753

0.6

1,208,518

1.4

2,369,743

(0.1)

Surrender and lapse rate (insured amount basis)

6.45

(0.03 points)

3.19

(0.05 points)

6.26

(0.19 points)

Notes:

  • 1. "% Change" is presented in comparison with the same period of the previous fiscal year.

  • 2. The above figures excluding income from insurance premiums represent total amounts of individual insurance and individual annuities.

  • 3. The amount of income from insurance premiums is on a non-consolidated statement of operation basis.

  • 4. Annualized premium consists of premiums of individual insurance and individual annuities. The amount of annualized premium is the annual premium amount calculated by multiplying factors according to the premium payment method to a single premium payment amount (for lump-sum payment, the amount is the total premium divided by the insured period).

  • 5. Surrender and lapse related to revived policies were included in total surrender and lapse.

(Reference)The insurance amounts of "J-type product (non-participating critical illness insurance)," and "T-type product (non-participating disability protection insurance)", which are the Company's core products along with term life insurance, and "Kaigo Relief (non-participating whole life nursing-care insurance)", are not recorded in the above table because these products do not cover death benefit. In terms of "Kaigo Teiki (non-participating nursing-care term insurance)," the insurance amount of death benefit is recorded in new policy amount, policy amount in force and surrender and lapse amount instead of nursing-care benefit in the above table.

The amount adding the insurance amounts of "J-type product," "T-type product" and nursing-care insurance amounts of "Kaigo Relief" and "Kaigo Teiki" is as follows:

Fiscal Year Ended March 31, 2017

Six Months Ended September 30, 2017

Fiscal Year Ended March 31, 2018

Amount

% Change

Amount

% Change

Amount

% Change

New policy amount

5,121,169

18.7

1,992,147

(13.9)

5,231,498

2.2

Policy amount in force

40,992,241

4.6

41,251,883

3.5

42,803,504

4.4

Surrender and lapse amount

2,525,540

2.2

1,305,999

3.5

2,582,199

2.2

Surrender and lapse rate (insured amount basis)

6.44

(0.04 points)

3.19

(0.03 points)

6.30

(0.14 points)

As of March 31, 2017

As of September 30, 2017

As of March 31, 2018

Amount

% Change

Amount

% Change

Amount

% Change

Total assets

6,298,188

2.4

6,476,445

4.7

6,573,924

4.4

Adjusted net asset

1,354,496

(5.7)

1,425,863

0.9

1,429,372

5.5

Solvency margin ratio

1,252.6%

(89.3 points)

1,253.1%

(133.7 points)

1,206.2%

(46.4 points)

Fiscal Year Ended March 31, 2017

Fiscal Year Ended March 31, 2018

Fiscal Year Ending March 31, 2019 (Forecast)

Core profit

Amount

% Change

Amount

% Change

Amount

105,677

0.8

100,781

(4.6)

105,000

(Millions of yen, %)

(2) Assets

(Millions of yen, %)

Note: "% Change" is presented in comparison with the same period of the previous fiscal year.

(3) Core Profit/Positive Spread/Investment Yield

(Millions of yen, %)

Note: "% Change" is presented in comparison with the same period of the previous fiscal year.

Daido Life Insurance Company

(Millions of yen)

Fiscal Year Ended March 31, 2017

Fiscal Year Ended March 31, 2018

Fiscal Year Ending March 31, 2019 (Forecast)

Amount of positive spread

Amount

Change

Amount

Change

Amount

25,033

(5,570)

33,311

8,277

34,000

Note: "Change" is presented in comparison with the same period of the previous fiscal year.

(%)

Fiscal Year Ended March 31, 2017

Fiscal Year Ended March 31, 2018

Fiscal Year Ending March 31, 2019 (Forecast)

Investment yield on core profit

2.33

2.40

2.3

Investment yield (general account)

1.76

2.00

1.9

Average assumed investment yield

1.85

1.78

1.7

1. 85

(4) Policy and Other Reserves

(Millions of yen)

As of March 31, 2017

As of September 30, 2017

As of March 31, 2018

Amount

Change

Amount

Change

Amount

Change

Policy reserve

5,334,761

200,201

5,444,557

209,278

5,565,550

230,789

General account

5,316,387

202,622

5,426,015

209,738

5,547,576

231,189

Separate account

18,373

(2,421)

18,542

(460)

17,973

(400)

Reserve for price fluctuations

90,465

10,809

95,955

10,997

101,555

11,089

Contingency reserve

68,845

3,035

69,637

2,804

70,778

1,933

Contingency reserve fund

-

-

-

-

-

-

Price fluctuation reserve fund

-

-

-

-

-

-

Appropriated retained earnings for general purposes

150,000

-

150,000

-

150,000

-

Notes:

  • 1. "Change" is presented in comparison with the same period of the previous fiscal year.

  • 2. The amount of policy reserve excludes the amount of contingency reserve.

  • 3. Appropriated retained earnings for general purposes as of March 31, 2017 are the balance with the approval of the appropriated retained earnings. Appropriated retained earnings for general purposes as of March 31, 2018 are the balance after the approval of the proposal for the appropriated retained earnings in the general meeting of shareholders.

(5) Unrealized Gains/Losses

(Millions of yen)

As of March 31, 2017

As of September 30, 2017

As of March 31, 2018

Amount

Change

Amount

Change

Amount

Change

Securities

502,618

(116,648)

555,892

(49,932)

512,739

10,121

Domestic stocks

167,278

22,511

197,175

64,618

197,043

29,764

Domestic bonds

307,285

(93,144)

300,817

(104,265)

316,268

8,982

Foreign securities

4,752

(52,215)

24,536

(29,969)

(30,353)

(35,106)

Other securities

17,251

9,060

27,802

21,842

24,464

7,213

Real estate (domestic land and lease)

37,854

9,006

38,002

8,729

45,990

8,135

Notes:

  • 1. "Change" is presented in comparison with the same period of the previous fiscal year.

  • 2. The figures of unrealized gains/losses of securities are the total of the unrealized gains/losses on policy reserve matching bonds, held-to-maturity securities, and available-for-sale securities, among securities with market value. In addition, the figures of those include securities held in money trusts.

  • 3. The figures of unrealized gains/losses of real estate consist of domestic real estate and leaseholds which are stated in the amounts before revaluation.

  • 4. Unrealized gains/losses on real estate are mainly calculated based on the appraisal price. As for less important property, posted price is used.

(6) Investment for the Fiscal Year Ended March 31, 2018

(Millions of yen)

Net Increase (Net decrease)

Domestic stocks

[Including investment trusts which mainly invest in stocks]

(10,078)

4,620

Domestic bonds

42,866

Foreign stocks, etc.

[Excluding investment trusts which mainly invest in foreign bonds]

154,990 58,682

Foreign bonds

[Including investment trusts which mainly invest in foreign bonds]

76,616 172,924

Real estate

11,540

Notes:

  • 1. Net increase (decrease) indicates net of the total executed amount.

  • 2. "[Including investment trusts which mainly invest in stocks]"shows domestic stocks including investment trusts which mainly invest in stocks and monetary trusts contracts.

  • 3. "[Excluding investment trusts which mainly invest in foreign bonds]" excludes investment trusts which mainly invest in foreign bonds included in "foreign stocks, etc.".

  • 4. "[Including investment trusts which mainly invest in foreign bonds]"includes investment trusts which mainly invest in foreign bonds included in "foreign stocks, etc.".

(7) Level of Indices where Unrealized Gains/Losses on Assets are Break-even as of March 31, 2018

Domestic stocks (NIKKEI 225)

approx.

8,600

yen

Domestic stocks (TOPIX)

approx.

690

points

Domestic bonds

approx.

0.9

%

Foreign securities

approx.

110

yen

Notes:

  • 1. These figures are calculated based on asset holdings as of March 31, 2018 assuming that our asset portfolio is the same as those of the NIKKEI 225, TOPIX, newly issued 10-Year JGB yield and U.S .dollar/yen rate. Because our portfolio is not necessarily the same as these indices, actual results may differ from above figures.

  • 2. Domestic bonds are calculated based on the newly issued 10-year JGB yield. (March 31, 2018: 0.05 %).

  • 3. The indices of Foreign securities are calculated based on a U.S. dollar/yen rate basis (March 31, 2018: 106.24 yen). Currency hedged position to which applied hedge accounting rule are excluded in the calculation.

(8) Performance Forecasts

(Millions of yen)

Fiscal Year Ending March 31, 2019

Income from insurance premiums

820,000

Annualized premiums of total policies

800,000

Policy amount in force

37,680,000

(Reference) Forecast of policy amount in force plus forecast of the total of the insurance amounts of "J-type product," "T-type product" and nursing-care insurance amounts of "Kaigo Relief" and "Kaigo Teiki" is as follows:

(Millions of yen)

Fiscal Year Ending March 31, 2019

Policy amount in force

45,200,000

(9) Number of Employees and Agents

(Persons, Agents)

As of March 31, 2017

As of September 30, 2017

As of March 31, 2018

In-house sales representatives

3,843

(0.6) %

3,878

(0.1) %

3,714

(3.4) %

Sales agents

13,878

0.6 %

13,769

0.8 %

13,992

0.8 %

Administrative personnel

3,091

(0.0) %

3,152

0.2 %

3,089

(0.0) %

Note: Percentage figures stated above are presented in comparison with the same period of the previous fiscal year.

(10) Provision for Reserve for Policyholder Dividends

(Millions of yen)

Fiscal Year Ended March 31, 2017

Fiscal Year Ended March 31, 2018

Amount

% Change

Amount

% Change

Individual insurance and annuities

3,634

(4.3)

3,977

9.4

Group insurance

9,471

0.1

10,529

11.2

Group annuities

463

1.7

90

(80.5)

Total including others

13,636

(1.1)

14,668

7.6

Note: "% Change" is presented in comparison with the same period of the previous fiscal year.

(11) OTC Sales through Banks

The Company does not offer its products through OTC sales at banks.

Exhibit

  • Provision/Reversal for Policy Reserve with Minimum Guarantee for Individual Variable Annuities and Others (General Account)

(Billions of yen)

Fiscal Year Ended March 31, 2017

Six Months Ended September 30, 2017

Fiscal Year Ended March 31, 2018

Provision/reversal for policy reserve with minimum guarantee for individual variable annuities and others (general account)

(0.2)

(0.0)

(0.1)

Note: Negative value in the table represents the reversal of policy reserve.

Attachments

  • Original document
  • Permalink

Disclaimer

T&D Holdings Inc. published this content on 15 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 15 May 2018 06:12:07 UTC