Dai ichi Life : Supplementary Materials for the Nine Months Ended December 31, 2021 (The Neo First Life Insurance Company, Limited)

[Unofficial Translation]

February 14, 2022

Seiji Inagaki

President and Representative Director

Dai-ichi Life Holdings, Inc.

Code: 8750 (TSE First section)

Supplementary Materials for the Nine Months Ended December 31, 2021 (The Neo First Life Insurance Company, Limited)

February 14, 2022

Financial Results for the Nine Months Ended December 31, 2021

The Neo First Life Insurance Company, Limited (the "Company"; President: Yuji Tokuoka) announces its financial results for the nine months ended December 31, 2021.

[Contents]

Financial Summary for the Nine Months Ended December 31, 2021

1. Business Highlights ··············································································· P.1
2. Investment Results of General Account ······················································· P.3
3. Unaudited Quarterly Non-Consolidated Balance Sheet ····································· P.6
4. Unaudited Quarterly Non-Consolidated Statement of Earnings ··························· P.7
5. Breakdown of Ordinary Profit (Fundamental Profit) ········································ P.9
6. Solvency Margin Ratio ·········································································· P.10
7. Status of Separate Account ·····································································P.10
8. Consolidated Financial Summary······························································ P.10

• Please note that this is an unofficial translation of the original disclosure in Japanese.

1. Business Highlights

(1) Annualized Net Premiums

Policies in Force		(millions of yen except percentages)
			As of March 31, 2021	As of
			% of March 31,
			December 31, 2021
					2021 total
	Individual insurance	140,557	139,943	99.6
	Individual annuities	14	18	128.8
	Total	140,571	139,961	99.6
		Medical and	26,869	34,314	127.7
		survival benefits
New Policies		(millions of yen except percentages)
			Nine months ended	Nine months ended
			December 31, 2020	December 31, 2021	% of December
					31, 2020 total
	Individual insurance	8,872	10,765	121.3
	Individual annuities	―	―	―
	Total	8,872	10,765	121.3
		Medical and	7,102	8,991	126.6
		survival benefits

Notes: 1. Annualized net premiums are calculated by using multipliers for various premium payment terms to the premium per payment.

2. Annualized net premium for medical and survival benefits includes (a) premiums related to medical benefits such as hospitalization and surgery benefits, (b) premiums related to survival benefits such as specific illness, and (c) premiums related to premium waiver benefits.

1

The Neo First Life Insurance Company, Limited

(2) Sum Insured of Policies in Force and New Policies

Policies in Force

As of March 31, 2021

As of December 31, 2021

Number of

Amount

Number of policies

Amount

(thousands)

(billions of yen)

policies

(billions of

% of March

% of March

(thousands)

yen)

31, 2021 total

31, 2021 total

Individual insurance

482

1,449.6

592

122.8

1,587.0

109.5

Individual annuities

0

0.2

0

133.3

0.3

138.6

Group insurance

―

―

―

―

―

―

Group annuities

―

―

―

―

―

―

Note: The amount of individual annuities shows policy reserves for policies after the commencement of

annuities.

New Policies

Nine months ended December 31, 2020

Nine months ended December 31, 2021

Number of

Amount

Number of policies

Amount

policies

(billions of yen)

(thousands)

(billions of yen)

(thousands)

Net

% of

% of

Net

New

December

December

New

increase by

increase by

business

31, 2020

31, 2020

business

conversions

conversions

total

total

Individual insurance

111

181.8

181.8

―

133

120.2

187.8

103.3

187.8

―

Individual annuities

―

―

―

―

―

―

―

―

―

―

Group insurance

―

―

―

―

―

―

―

―

―

―

Group annuities

―

―

―

―

―

―

―

―

―

―

2

The Neo First Life Insurance Company, Limited

2. Investment Results of General Account

(1) Asset Composition

					(millions of yen)
			As of March 31, 2021	As of December 31, 2021
			Carrying	%	Carrying	%
			amount	amount
Cash, deposits, and call loans	248,955	70.6	251,628	63.9
Securities repurchased under resale	―	―	―	―
agreements
Deposit paid for securities borrowing	―	―	―	―
transactions
Monetary claims bought	―	―	―	―
Trading account securities	―	―	―	―
Money held in trust	―	―	20,029	5.1
Securities	62,872	17.8	80,757	20.5
	Domestic bonds	52,007	14.7	66,339	16.8
	Domestic stocks	1,249	0.4	1,695	0.4
	Foreign securities	9,616	2.7	12,723	3.2
		Foreign bonds	9,616	2.7	12,723	3.2
		Foreign stocks and other securities	―	―	―	―
	Other securities	―	―	―	―
Loans	1,313	0.4	1,507	0.4
Real estate	96	0.0	93	0.0
Deferred tax assets	―	―	―	―
Others	39,611	11.2	40,013	10.2
Reserve for possible loan losses	(7)	(0.0)	(8)	(0.0)
Total	352,842	100.0	394,022	100.0
	Foreign currency-denominated assets	―	―	―	―

Note: The amounts of buildings were posted for real estate.

3

The Neo First Life Insurance Company, Limited