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.
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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