Dai ichi Life : Supplementary Materials for the Three Months Ended June 30, 2021 (The Dai-ichi Life Insurance Company, Limited)

[Unofficial Translation]

August 11, 2021

Seiji Inagaki

President and Representative Director

Dai-ichi Life Holdings, Inc.

Code: 8750 (TSE First section)

Supplementary Materials for the Three Months Ended June 30, 2021 (The Dai-ichi Life Insurance Company, Limited)

August 11, 2021

Financial Results for the Three Months Ended June 30, 2021

The Dai-ichi Life Insurance Company, Limited (the "Company"; President: Seiji Inagaki) announces its financial results for the three months ended June 30, 2021.

[Contents]
Financial Summary for the Three Months Ended June 30, 2021
1.	Business Highlights--------	P.1
2.	Investment Results of General Account--------	P.3
3.	Unaudited Quarterly Balance Sheet--------	P.6
4.	Unaudited Quarterly Statement of Earnings--------	P.7
5.	Breakdown of Ordinary Profit (Fundamental Profit)--------	P.8
6.	Solvency Margin Ratio--------	P.11
7.	Status of Separate Account--------	P.12
8.	Consolidated Financial Summary--------	P.13

For further information please contact:

Corporate Planning Dept.,

The Dai-ichi Life Insurance Company, Limited

TEL: [phone]/7204

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

1. Business Highlights

(1) Annualized Net Premiums
Policies in Force			(billions of yen)
	As of March 31, 2021	As of June 30, 2021	% of March 31, 2021 total
Individual insurance	1,538.2	1,533.2	99.7
Individual annuities	538.7	539.0	100.1
Total	2,076.9	2,072.3	99.8
Medical and survival benefits	696.8	701.1	100.6
New Policies			(billions of yen)
	Three months ended	Three months ended
	June 30, 2020	June 30, 2021	% of June 30, 2020 total
Individual insurance	6.3	17.0	268.3
Individual annuities	0.8	2.8	317.1
Total	7.2	19.8	274.3
Medical and survival benefits	4.1	13.3	321.1

Note: 1. Annualized net premiums are calculated by using multipliers for various premium payment terms to the premium per payment. In single premium contracts, the amount is calculated by dividing the premium by the duration of the policy.

1. Annualized net premiums for medical and survival benefits include (a) premiums related to medical benefits such as hospitalization and surgery benefits, (b) premiums related to survival benefits such as specific illness and nursing benefits, and (c) premiums related to premium waiver benefits, in which disability cause is excluded but causes such as specific illness and nursing care are included.
2. "New policies" include net increase by conversion.

-1-	The Dai-ichi Life Insurance Company, Limited

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

Policies in Force

	As of March 31, 2021		As of June 30, 2021
	Number of	Amount	Number of policies	Amount
	policies
	(billions of yen)	(thousands)	% of March 31, 2021	(billions of yen)	% of March 31, 2021
	(thousands)
			total		total
Individual insurance	20,274	83,664.3	20,658	101.9	82,148.6	98.2
Individual annuities	2,093	11,012.6	2,100	100.3	10,979.4	99.7
Individual insurance and annuities	22,367	94,676.9	22,758	101.7	93,128.0	98.4
Group insurance	-	50,842.5	-	-	50,423.0	99.2
Group annuities	-	6,446.9	-	-	6,455.0	100.1

Note: 1. Policy amount in force of individual annuities is equal to (a) the funds to be held at the time annuity payments are to commence for an annuity for which payment has not yet commenced, and (b) the amount of policy reserve for an annuity for which payments have commenced.

1. Policy amount in force of group annuities is equal to the amount of outstanding corresponding policy reserve.
2. For products covered by multiple insurance agreements after April 2018, the number of policies for each product is shown as one.

New Policies

	Number of policies	Amount
	(thousands)	% of June 30, 2020	(billions of yen)	New Business	Net increase by	% of June 30, 2020
		total			conversion	total
Three months ended June 30, 2020
Individual insurance	379		39.3	207.3	(168.0)
Individual annuities	6		23.6	24.0	(0.3)
Individual insurance and annuities	386		62.9	231.4	(168.4)
Group insurance	-		91.4	91.4	-
Group annuities	-		0.0	0.0	-
Three months ended June 30, 2021
Individual insurance	1,007	265.3	(78.4)	365.4	(443.9)	-
Individual annuities	24	368.6	76.8	77.7	(0.9)	325.1
Individual insurance and annuities	1,031	267.1	(1.6)	443.2	(444.9)	-
Group insurance	-	-	64.3	64.3	-	70.4
Group annuities	-	-	0.0	0.0	-	26.6

Note: 1. Number of new policies is the sum of new business and policies after conversion.

1. Amount of new policies for individual annuities, both new business and net increase by conversion, is equal to the funds to be held at the time annuity payments are to commence.
2. Amount of new policies for group annuities is equal to the initial premium payment.
3. For products covered by multiple insurance agreements after April 2018, the number of policies for each product is shown as one.

-2-	The Dai-ichi Life Insurance Company, Limited

2. Investment Results of General Account

1. Asset Composition

			(millions of yen)
	As of March 31, 2021	As of June 30, 2021
	Carrying amount	%	Carrying amount	%
Cash, deposits, and call loans	768,352	2.0	733,590	1.9
Securities repurchased under resale agreements	-	-	-	-
Deposit paid for securities borrowing transactions	-	-	-	-
Monetary claims bought	252,140	0.7	256,489	0.7
Trading account securities	-	-	-	-
Money held in trust	7,716	0.0	11,518	0.0
Securities	32,530,293	85.9	32,947,754	86.1
Domestic bonds	16,740,113	44.2	16,786,422	43.9
Domestic stocks	3,569,109	9.4	3,583,016	9.4
Foreign securities	11,402,677	30.1	11,789,105	30.8
Foreign bonds	9,811,240	25.9	9,926,113	25.9
Foreign stocks and other securities	1,591,436	4.2	1,862,991	4.9
Other securities	818,392	2.2	789,209	2.1
Loans	2,576,064	6.8	2,550,613	6.7
Policy loans	292,080	0.8	285,780	0.7
Ordinary loans	2,283,983	6.0	2,264,833	5.9
Real estate	1,076,494	2.8	1,079,877	2.8
Real estate for rent	766,269	2.0	781,651	2.0
Deferred tax assets	-	-	-	-
Others	642,315	1.7	691,518	1.8
Reserve for possible loan losses	(2,358)	(0.0)	(2,073)	(0.0)
Total	37,851,018	100.0	38,269,289	100.0
Foreign currency-denominated assets	10,428,868	27.6	10,624,953	27.8

Note: 'Real estate' represents total amount of land, buildings and construction in progress.

-3- The Dai-ichi Life Insurance Company, Limited