T&D HOLDINGS INC. May 15, 2017
T&D Financial Life Insurance Company
Press Conference Materials for the Fiscal Year Ended March 31, 2017-
Sales Results (Millions of yen, %)
Fiscal Year Ended March 31, 2016
Six Months Ended September 30, 2016
Fiscal Year Ended March 31, 2017
Amount
% Change
Amount
% Change
Amount
% Change
Annualized premiums of new policies
14,651
(44.9%)
3,973
(52.1%)
7,252
(50.5%)
Medical benefits, living benefits, and others
21
252.5%
21
144.3%
82
286.6%
Annualized premiums of total policies
116,818
0.1%
115,991
(0.7%)
114,077
(2.3%)
Medical benefits, living benefits, and others
2,806
(9.0%)
2,694
(8.5%)
2,620
(6.6%)
Income from insurance premiums
165,436
(44.4%)
41,138
(56.9%)
80,918
(51.1%)
Individual insurance and annuities
165,129
(44.5%)
39,115
(59.0%)
78,603
(52.4%)
Group insurance and annuities
147
(4.8%)
67
(13.0%)
133
(9.5%)
Policy amount in force
1,808,717
0.1%
1,804,799
0.5%
1,879,380
3.9%
Annualized premiums of surrender and lapse
3,089
(64.5%)
1,323
(22.8%)
2,807
(9.1%)
Surrender and lapse rate
2.65%
(3.74 points)
1.13%
(0.34 points)
2.40%
(0.25 points)
Notes:
The above figures excluding income from insurance premiums represent total amounts of individual insurance and individual annuities.
Surrender and lapse related to revived policies were included in total surrender and lapse amount.
Surrender and lapse rate for the six months ended September 30, 2016 is not annualized.
-
Assets (Millions of yen, %)
As of March 31, 2016
As of September 30, 2016
As of March 31, 2017
Amount
% Change
Amount
% Change
Amount
% Change
Total assets
1,359,879
(2.0%)
1,329,951
(2.6%)
1,313,747
(3.4%)
Adjusted net asset
228,394
46.1%
236,295
54.0%
188,005
(17.7%)
Adjusted net asset / General account assets
18.3
4.8 points
19.0
6.4 points
15.1
(3.2 points)
Solvency margin ratio
1,260.7
(11.2 points)
1,439.4
139.9 points
1,295.6
34.9 points
-
Core Profit/Negative Spread/Investment Yield (Millions of yen, %)
Fiscal Year Ended March 31, 2016
Fiscal Year Ended March 31, 2017
Fiscal Year Ending March 31, 2018 (Forecast)
Core profit
Amount
% Change
Amount
% Change
Amount
(5,545)
-
843
-
(2,000)
(Millions of yen)
Fiscal Year Ended March 31, 2016
Fiscal Year Ended March 31, 2017
Fiscal Year Ending March 31, 2018 (Forecast)
Negative spread
Amount
Change
Amount
Change
Amount
(3,148)
90
(2,911)
236
(2,000)
Note: In case of positive spread, amount is shown in positive value.
(%)
Fiscal Year Ended March 31, 2016
Fiscal Year Ended March 31, 2017
Fiscal Year Ending March 31, 2018 (Forecast)
Investment yield on core profit
1.19
1.25
approx.
1.4
[Excluding foreign exchange rate linked type whole life insurance]
[1.04]
[1.05]
approx.
[1.2]
Investment yield (general account)
0.96
1.51
approx.
1.2
[Excluding foreign exchange rate linked type whole life insurance, variable annuities, etc] (Note)
[1.21]
[1.46]
approx.
[1.1]
Average assumed investment yield
1.48
1.51
approx.
1.6
[Excluding foreign exchange rate linked type whole life insurance]
[1.35]
[1.34]
approx.
[1.4]
Note: Parenthesized figures for investment yield (general account) exclude gains/losses on hedging transactions for market risks of foreign exchange rate linked type whole life insurance and gains/losses on hedging transactions for minimum guarantee risks of variable annuities.
-
Policy and Other Reserves (Millions of yen)
As of March 31, 2016
As of September 30, 2016
As of March 31, 2017
Amount
Change
Amount
Change
Amount
Change
Policy reserve
1,241,180
(18,732)
1,204,966
(40,981)
1,198,565
(42,615)
General account
1,132,586
98,155
1,120,110
25,604
1,133,594
1,007
Separate account
108,593
(116,888)
84,855
(66,586)
64,970
(43,623)
Reserve for price fluctuations
903
189
1,022
225
1,207
303
Contingency reserve
18,576
(8,170)
16,844
(4,813)
15,398
(3,177)
Contingency reserve I
2,095
(1,180)
1,866
(660)
1,699
(396)
Contingency reserve II
9,447
238
9,447
123
9,543
95
Contingency reserve III
6,827
(7,210)
5,326
(4,265)
3,946
(2,880)
Contingency reserve IV
205
(17)
203
(10)
209
3
Contingency reserve fund
-
-
-
-
-
-
Price fluctuation reserve fund
-
-
-
-
-
-
Note: The amount of policy reserve excludes the amount of contingency reserve.
-
Unrealized Gains/Losses (Millions of yen)
As of March 31, 2016
As of September 30, 2016
As of March 31, 2017
Amount
Change
Amount
Change
Amount
Change
Securities
136,913
79,235
144,179
85,956
97,889
(39,023)
Domestic stocks
-
-
-
-
-
-
Domestic bonds
87,791
42,544
89,934
45,834
66,929
(20,861)
Foreign securities
949
949
2,317
2,139
164
(784)
Monetary trusts
48,172
35,741
51,927
37,982
30,495
(17,676)
Real estate
-
-
-
-
-
-
-
Investment for the Fiscal Year Ended March 31, 2017 (Millions of yen)
Net Increase (Net decrease)
Forecast for the Fiscal Year Ending March 31, 2018
Domestic stocks
(1)
In order to neutralize the cash flow of assets and liabilities according to the movement of market interest rates, the Company determines the optimum portfolio suitable to each insurance product's feature. Specifically, the Company will focus on cash flow matching by investing in domestic fixed rate assets.
Domestic bonds
(53,513)
Foreign stocks
-
Foreign bonds
86,795
Real estate
-
Note: Real estate excludes building and accessories.
-
Level of Indices where Unrealized Gains/Losses on Assets are Break-even as of March 31, 2017
NIKKEI Average
-
TOPIX
-
Yen-denominated bonds
approx. 0.9%
Foreign securities
-
Notes:
NIKKEI Average and TOPIX are not calculated because the company doesn't hold listed stocks.
The indices of yen-denominated bonds are calculated on a 10-Year JGB yield basis.
Foreign securities are not calculated because exchange difference on foreign exchange fluctuation is processed as foreign exchange gains (losses).
-
Performance Forecasts (Millions of yen)
Fiscal Year Ending March 31, 2018
Income from insurance premiums
200,000
Annualized premiums of total policies
120,000
Policy amount in force
2,060,000
-
Number of Employees and Agents (Persons, %)
As of March 31, 2016
As of September 30, 2016
As of March 31, 2017
In-house sales representatives
-
-
-
-
-
-
Administrative personnel
236
0.4%
233
-
239
1.3％
-
Provision for Reserve for Policyholder Dividends (Millions of yen, %)
Fiscal Year Ended March 31, 2016
Fiscal Year Ended March 31, 2017
Amount
% Change
Amount
% Change
Individual insurance and annuities
(3)
3,457.3%
(1)
(68.7％)
Group insurance
-
-
-
-
Group annuities
-
-
-
-
Total including others
(3)
3,457.3%
(1)
(68.7％)
Note: Negative value in the table represents the reversal of the reserve.
- ) OTC Sales through Banks (Number, Millions of yen)
Banks include shinkin banks.
The amounts above are shown in single premiums.
The Company does not offer single premium endowment insurance.
Banks include shinkin banks.
Level premium products are the total of non-participating income protection insurance (non-surrender value, type I) and non-participating special whole life insurance (type I).
The amounts are shown in annualized premiums.
- Provision/Reversal for Policy Reserve With Minimum Guarantee for Individual Variable Annuities and Others (General Account)
Fiscal Year Ended March 31, 2016 | Fiscal Year Ended March 31, 2017 | ||||
Amount | % Change | Amount | % Change | ||
Variable annuities | Number | - | - | - | - |
Amount | - | - | - | - | |
Fixed annuities | Number | - | - | - | - |
Amount | - | - | - | - | |
Note: The Company suspended sales of variable annuities and fixed annuities.
(Number, Millions of yen)
Fiscal Year Ended March 31, 2016 | Fiscal Year Ended March 31, 2017 | ||||
Amount | % Change | Amount | % Change | ||
Single premium whole life insurance | Number | 17,435 | (35.9%) | 8,948 | (48.7%) |
Amount | 151,845 | (47.2%) | 65,442 | (56.9%) | |
Single premium endowment insurance | Number | - | - | - | - |
Amount | - | - | - | - | |
Notes:
(Number, Millions of yen)
Fiscal Year Ended March 31, 2016 | Fiscal Year Ended March 31, 2017 | ||||
Amount | % Change | Amount | % Change | ||
Level premium insurance | Number | 2,415 | 563.5% | 3,292 | 36.3% |
Amount | 758 | 4,074.9% | 1,028 | 35.6% | |
Notes:
Exhibit
(Billions of yen)
Fiscal Year Ended March 31, 2016 | Six Months Ended September 30, 2016 | Fiscal Year Ended March 31, 2017 | |
Provision/reversal for policy reserve with minimum guarantee for individual variable annuities and others | (3.7) | (1.3) | (4.4) |
Note: Negative value in the table represents the reversal of policy reserve.
T&D Holdings Inc. published this content on 15 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 18 May 2017 11:48:25 UTC.
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