Tokio Marine : Revised forecasts of consolidated business results of Tokio Marine Holdings, Inc. under Japanese GAAP for the fiscal year 2016

May 8, 2017

Tokio Marine Holdings, Inc. President: Tsuyoshi Nagano TSE code number: 8766

Revised forecasts of consolidated business results of Tokio Marine Holdings, Inc. under Japanese GAAP for the fiscal year 2016

Tokio Marine Holdings, Inc. (the "Company") announced today that it has revised the forecasts of its consolidated business results under Japanese GAAP for the fiscal year 2016 (April 1, 2016 to March 31, 2017, "FY 2016"), as detailed below.

1. Revised forecasts for FY 2016

   Ordinary income (million yen)	Ordinary profit (million yen)	Net income attributable to owners of the parent (million yen)	Net income per share (yen)
   Previous forecast* (A)	4,579,076	395,000	280,000	370.88
   Revised forecast (B)	5,232,000	387,000	273,000	362.38
   Difference (B)-(A)	652,924	(8,000)	(7,000)	-
   Rate of increase / decrease (%)	14.3	(2.0)	(2.5)	-
   (Reference) Actual results for the fiscal year 2015	4,579,076	385,825	254,540	337.27

   *Note: Announced on November 18, 2016. The ordinary income is the actual result of the previous fiscal year because no forecast figure has been disclosed.

2. Explanation of revisions

The ordinary income forecast is revised upward because the financial results of HCC Insurance Holdings, Inc. and its subsidiaries have been consolidated into the financial statements of the Company from FY2016 and the life insurance premiums of Tokio Marine

& Nichido Life Insurance Co., Ltd. is expected to increase mainly due to a decrease of surrender benefits in variable annuities from the previous fiscal year.

The ordinary profit and the net income attributable to owners of the parent are expected not to be changed significantly from the previous forecast.