Tokio Marine & Nichido
Tokio Marine & Nichido Fire Insurance Co., Ltd.
November 19, 2021
Tokio Marine Holdings, Inc.
(billions of JPY, except for %)
FY2019 FY2020 FY2021 FY2021 Full-Year Projections
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Original Rivised
(Apr.-Jun.) (Apr.-Sep.) (Apr.-Dec.) (Apr.-Mar.) (Apr.-Jun.) (Apr.-Sep.) (Apr.-Dec.) (Apr.-Mar.) (Apr.-Jun.) (Apr.-Sep.) (Apr.-Dec.) (Apr.-Mar.)
■Direct Premiums Written excluding deposit premiums from policyholders
Fire 90.8 206.1 316.7 421.0 95.7 211.6 340.2 450.1 105.3 213.9
Marine 17.1 34.8 52.1 71.5 17.6 32.7 48.6 67.9 20.0 38.5
P.A. 60.1 104.0 141.4 183.2 54.7 92.5 126.7 163.8 57.7 97.0
Auto 272.8 537.6 807.2 1,082.4 277.2 548.7 828.6 1,109.4 283.4 559.2
CALI 69.7 136.8 199.6 264.5 54.0 108.3 165.0 224.2 55.0 106.1
Other 119.7 233.8 347.7 463.3 119.2 234.2 349.5 471.6 125.8 242.0
Total 630.5 1,253.3 1,864.9 2,486.2 618.6 1,228.3 1,858.9 2,487.3 647.4 1,256.9
■Net premiums written
Fire 71.9 164.4 242.6 321.8 74.5 164.3 259.1 353.2 85.0 169.2 341.1 353.1
Marine 16.7 33.3 48.5 65.3 18.1 31.8 44.4 61.4 21.5 37.5 63.1 67.7
P.A. 59.1 101.8 138.1 179.0 54.1 91.4 124.9 161.4 57.1 95.7 172.8 172.6
Auto 272.4 536.3 804.6 1,078.3 276.5 546.8 825.5 1,105.2 282.5 556.8 1,116.1 1,116.1
CALI 64.6 143.1 210.2 276.8 60.9 123.0 179.7 238.7 55.0 115.9 220.2 224.7
Other 83.9 166.3 242.9 326.0 86.4 169.8 251.1 341.2 91.7 176.9 348.3 357.3
Total 568.9 1,145.4 1,687.1 2,247.5 570.9 1,127.4 1,685.0 2,261.3 593.1 1,152.3 2,262.0 2,292.0
■Auto insurance : YoY change (Managerial accounting basis)
Non-fleet Premiums +0.6% +0.9% +0.9% +1.3% +2.1% +3.0% +3.4% +2.8% +1.9% +1.2%
Number of cars +0.1% +0.1% +0.1% +0.1% -0.3% +0.4% +0.7% +0.7% -0.2% -0.3%
Per-auto premiums +0.5% +0.8% +0.8% +1.3% +2.4% +2.6% +2.7% +2.2% +2.0% +1.6%
Fleet Premiums -1.3% +1.3% +2.0% +3.1% +0.1% +1.6% +2.9% +1.7% +1.7% -0.1%
Number of cars -17.9% -9.6% -6.1% -4.2% +8.2% +4.6% +4.0% +3.2% +5.3% +2.4%
Per-auto premiums +20.2% +12.1% +8.6% +7.6% -7.5% -2.8% -1.0% -1.5% -3.4% -2.4%
Total Premiums +0.4% +1.0% +1.1% +1.6% +1.7% +2.7% +3.3% +2.6% +1.9% +1.1%
Number of cars -2.9% -1.4% -0.9% -0.6% +0.9% +1.0% +1.2% +1.1% +0.7% +0.1%
Per-auto premiums +3.4% +2.4% +2.0% +2.2% +0.8% +1.7% +2.1% +1.6% +1.2% +1.0%
■Net claims paid
Fire 38.8 78.2 218.2 264.0 43.7 96.3 160.0 210.3 62.4 107.3 184.9 199.9
Marine 9.2 18.9 32.1 44.0 9.7 18.8 28.6 38.0 7.8 19.0 41.6 41.6
P.A. 21.3 42.6 64.3 85.5 20.3 39.5 59.7 78.1 20.5 39.5 78.6 80.2
Auto 143.2 284.2 458.8 600.8 124.4 255.1 397.9 534.7 134.0 266.0 599.3 578.0
CALI 46.8 94.9 144.7 190.4 44.4 81.0 133.0 175.7 38.9 78.8 166.8 166.8
Other 34.5 69.0 120.9 168.2 36.2 74.6 113.1 148.2 37.4 75.8 172.0 170.6
Total 293.9 588.1 1,039.3 1,353.2 279.0 565.6 892.7 1,185.2 301.4 586.6 1,243.3 1,237.4
■Net W/P basis loss ratio*
Fire 56.7% 50.1% 92.4% 84.6% 61.1% 60.8% 63.9% 61.6% 75.8% 65.8% 56.7% 58.9%
Marine 58.3% 60.0% 69.6% 70.8% 56.6% 62.4% 67.8% 65.2% 39.0% 53.7% 69.5% 64.7%
P.A. 39.8% 46.5% 51.8% 53.4% 41.7% 48.2% 53.3% 54.3% 40.2% 46.5% 51.5% 52.4%
Auto 58.2% 59.1% 63.0% 61.8% 50.8% 52.9% 54.3% 54.6% 53.7% 54.4% 60.2% 58.7%
CALI 79.5% 72.6% 75.1% 75.2% 80.2% 72.5% 80.8% 80.4% 78.3% 75.0% 84.4% 82.3%
Other 43.9% 44.4% 52.7% 54.5% 44.5% 46.6% 47.8% 46.2% 43.6% 45.8% 52.2% 50.6%
Total 56.4% 56.2% 66.5% 65.2% 53.6% 55.1% 57.9% 57.4% 55.7% 56.1% 60.4% 59.5%
(*) Including loss adjustment expenses
■Net incurred losses (Private insurance)*
Fire 30.9 142.3 234.5 264.6 26.6 144.4 188.5 267.9 34.2 90.7 214.3 206.0
Marine 9.8 26.6 37.7 49.6 10.6 20.6 29.9 37.8 10.0 25.6 42.4 43.3
P.A. 22.9 47.1 71.8 97.4 17.3 36.9 62.7 85.7 23.0 43.8 94.6 95.1
Auto 149.4 324.7 506.5 652.5 124.7 281.8 447.8 598.2 144.5 303.8 680.9 651.1
Other 44.7 94.3 154.4 206.4 43.8 107.3 180.9 218.6 46.0 100.0 200.1 216.4
Total 257.9 635.1 1,005.1 1,270.8 223.2 591.2 910.0 1,208.4 257.8 564.1 1,232.5 1,212.0
(*) Including loss adjustment expenses
　　 Excluding Residential earthquake insurance and CALI
■Net incurred losses caused by natural disasters during the period (Private insurance)*
Fire 0.0 72.0 125.9 130.6 2.1 58.9 64.1 86.8 0.8 22.7
Marine - 0.9 1.2 2.1 0.6 1.1 1.1 1.2 - 0.1
Auto 0.0 6.8 14.7 14.4 0.0 5.0 5.1 4.8 0.0 1.7
Other 0.0 2.4 11.1 15.2 0.0 1.8 3.1 3.8 0.0 0.9
Total 0.0 82.2 153.1 162.5 2.9 66.9 73.6 96.7 0.8 25.5
(*) Excluding loss adjustment expenses
　　 Excluding Residential earthquake insurance and CALI
■Net E/I basis loss ratio (Private insurance)*
Fire 45.3% 98.7% 109.2% 91.7% 37.0% 94.6% 80.7% 84.1% 43.3% 54.2% 63.7% 60.7%
Marine 62.7% 82.1% 78.2% 78.2% 67.6% 60.2% 61.9% 61.4% 60.8% 67.4% 67.1% 64.8%
P.A. 54.2% 54.5% 54.9% 55.5% 42.3% 45.0% 50.9% 51.9% 58.5% 54.4% 56.4% 56.6%
Auto 56.5% 61.0% 63.2% 60.8% 46.2% 51.8% 54.5% 54.3% 52.3% 54.7% 61.1% 58.4%
Other 55.5% 58.4% 63.0% 65.2% 51.7% 63.0% 70.0% 64.3% 52.7% 56.8% 57.5% 62.1%
Total 54.7% 66.4% 69.8% 66.3% 46.2% 60.1% 61.3% 60.8% 51.7% 55.4% 60.7% 59.5%
(*) Including loss adjustment expenses
　　 Excluding Residential earthquake insurance and CALI
■Net E/I basis loss ratio excluding impact of natural disasters (Private insurance)*
Fire 45.2% 48.7% 50.5% 46.5% 34.1% 56.0% 53.2% 56.9% 42.3% 40.6%
Marine 62.7% 79.3% 75.6% 74.9% 63.5% 56.7% 59.4% 59.4% 60.8% 67.1%
P.A. 54.2% 54.5% 54.9% 55.5% 42.3% 45.0% 50.9% 51.9% 58.5% 54.4%
Auto 56.5% 59.7% 61.4% 59.5% 46.2% 50.9% 53.9% 53.9% 52.3% 54.4%
Other 55.5% 56.9% 58.4% 60.4% 51.6% 61.9% 68.7% 63.2% 52.7% 56.3%
Total 54.7% 57.8% 59.1% 57.8% 45.6% 53.3% 56.3% 56.0% 51.6% 52.9%
(*) Including loss adjustment expenses
　　 Excluding Residential earthquake insurance and CALI
■Business expenses on underwriting
Operating and general administrative expenses on U/W 66.3 133.4 202.5 275.5 64.0 126.4 189.4 263.0 67.3 135.7 292.2 291.0
Personnel expenses 30.1 59.8 88.7 118.4 30.4 61.0 91.6 122.2 32.1 64.9 125.9 127.5
Non-personnel expenses 33.9 69.1 107.2 148.0 31.0 60.5 90.5 131.0 32.7 66.0 157.0 154.1
Tax and contribution 2.3 4.4 6.5 8.9 2.5 4.8 7.1 9.7 2.4 4.7 9.2 9.4
Agency commissions and brokerage 104.8 208.8 308.6 415.9 109.4 215.4 320.5 432.3 115.8 224.0 440.2 444.0
Business expenses on underwriting 171.1 342.3 511.1 691.4 173.4 341.9 509.9 695.4 183.2 359.7 732.5 735.1
■Expense ratio
Agency commission ratio 18.4% 18.2% 18.3% 18.5% 19.2% 19.1% 19.0% 19.1% 19.5% 19.4% 19.5% 19.4%
Expense ratio 30.1% 29.9% 30.3% 30.8% 30.4% 30.3% 30.3% 30.8% 30.9% 31.2% 32.4% 32.1%
■Combined ratio
Private insurance: E/I basis 86.0% 97.7% 101.5% 98.7% 77.5% 91.3% 92.3% 92.5% 83.0% 87.1% 93.8% 92.1%
■Outstanding claims reserves
Fire*1 118.3 74.4 92.0 96.7 87.0
Marine 33.1 30.1 29.5 28.9 30.2
P.A. 26.2 26.6 24.1 24.9 24.2
Auto 317.5 300.9 294.4 292.0 290.8
CALI, EQ*2 70.7 68.0 73.4 66.4 64.2
Other 168.8 178.0 183.1 195.6 200.4
Outstanding claims excl. IBNR 734.9 678.4 696.8 704.8 697.1
Fire*1 74.4 50.6 77.5 78.4 71.7
Marine 8.1 7.9 9.3 7.0 11.2
P.A. 32.2 33.9 29.2 33.7 33.7
Auto 73.8 68.7 68.1 71.9 73.9
CALI, EQ*2 - - - - -
Other 144.9 144.0 167.0 187.4 201.6
IBNR 333.6 305.3 351.2 378.6 392.4
Fire*1 122.9 192.7 143.0 125.1 106.1 169.6 148.1 175.2 149.2 158.8
Marine 34.8 41.3 38.6 38.1 38.5 38.8 37.8 35.9 37.5 41.4
P.A. 58.1 58.4 58.9 60.5 55.2 53.3 56.7 58.6 58.7 58.0
Auto 374.3 391.4 382.8 369.7 354.1 362.5 369.2 364.0 356.9 364.8
CALI, EQ*2 72.2 70.7 70.7 68.0 68.0 73.4 73.4 66.4 62.3 64.2
Other 301.2 313.8 319.8 322.1 327.4 350.2 383.0 383.0 389.0 402.0
Total 963.7 1,068.6 1,014.2 983.7 949.6 1,048.1 1,068.4 1,083.5 1,053.8 1,089.5
(*1) Excluding Residential earthquake insurance
(*2) Residential earthquake insurance
■General underwriting reserve
Fire* 709.2 725.8 733.1 759.9 762.5 779.9 794.2 798.6 804.9 798.2
Marine 25.4 25.6 26.0 22.9 24.7 23.7 22.7 26.2 25.8 24.8
P.A. 142.5 141.2 133.1 130.7 142.3 138.4 130.8 133.4 143.0 140.3
Auto 310.4 311.3 312.2 316.9 329.5 347.2 366.2 379.1 364.5 350.5
CALI 406.0 421.0 422.3 432.5 431.1 435.1 423.6 435.9 432.9 434.0
Other 389.0 391.8 387.6 393.9 396.5 397.3 392.8 401.5 401.8 401.1
Total 1,982.7 2,016.9 2,014.5 2,057.1 2,086.8 2,121.8 2,130.5 2,174.8 2,173.2 2,149.1
(*) Including reserve for Residential earthquake insurance
■Catastrophe loss reserve
Amount Fire 243.7 249.3 160.2 197.7 205.2 213.4 208.8 219.7 223.2 235.0 252.4 253.5
Marine 127.2 128.3 126.0 122.1 122.6 122.9 122.0 122.5 122.8 123.3 122.9 123.5
P.A. 133.6 135.0 136.1 127.8 129.5 130.7 131.7 132.9 134.7 136.0 138.3 138.3
Auto 173.4 175.2 141.5 146.6 155.5 164.2 173.1 182.1 191.2 200.0 185.3 207.8
Other 309.0 313.2 314.2 306.1 308.4 310.6 312.6 315.0 317.5 319.7 323.3 324.1
Total 987.2 1,001.1 878.2 900.6 921.4 942.0 948.5 972.4 989.6 1,014.2 1,022.4 1,047.3
Reversal Fire - - 93.8 108.2 - - 12.8 10.7 5.0 1.2 - -
Marine - - 3.0 5.9 - - 0.6 0.4 - - 0.4 -
P.A. - - - 9.6 - - - - - - 0.1 0.0
Auto 0.0 6.7 48.9 52.6 - - - - - - 32.5 10.1
Other 0.0 0.2 3.3 7.0 0.0 0.0 0.6 0.9 0.0 0.0 1.7 1.0
Total 0.0 6.9 149.2 183.5 0.0 0.0 14.2 12.1 5.1 1.2 34.9 11.2
Provision Fire 4.4 10.0 14.7 66.6 7.5 15.6 23.9 32.7 8.5 16.5 32.7 33.7
Marine 0.7 1.8 2.5 1.6 0.4 0.8 0.6 0.8 0.3 0.7 0.8 0.9
P.A. 1.8 3.2 4.3 5.6 1.7 2.9 3.9 5.1 1.8 3.0 5.4 5.4
Auto 8.7 17.2 25.8 34.6 8.8 17.5 26.5 35.4 9.0 17.8 35.7 35.7
Other 4.7 9.1 13.2 8.9 2.2 4.4 7.1 9.7 2.5 4.7 10.0 10.1
Total 20.5 41.3 60.7 117.4 20.7 41.4 62.1 83.9 22.2 43.0 84.9 86.2
Net provision Fire 4.4 10.0 -79.1 -41.5 7.5 15.6 11.0 22.0 3.4 15.3 32.7 33.7
Marine 0.7 1.8 -0.4 -4.3 0.4 0.8 -0.0 0.3 0.3 0.7 0.4 0.9
P.A. 1.8 3.2 4.3 -3.9 1.7 2.9 3.9 5.1 1.8 3.0 5.3 5.4
Auto 8.7 10.4 -23.1 -18.0 8.8 17.5 26.5 35.4 9.0 17.8 3.2 25.6
Other 4.7 8.9 9.9 1.8 2.2 4.4 6.4 8.8 2.4 4.7 8.3 9.1
Total 20.5 34.4 -88.4 -66.0 20.7 41.3 47.9 71.8 17.1 41.7 50.0 74.9
■Reserves for saving type products* 1,393.9 1,385.8 1,376.1 1,344.1 1,340.6 1,331.4 1,302.6 1,261.0 1,250.5 1,232.6
(*) Total of Policyholders' contract deposits and Reserve for dividends to policyholders
■Underwriting profit 28.7 -40.5 36.2 38.4 74.6 -4.8 -3.8 -16.9 92.6 124.1 109.0 93.0
■Net investment income
Interest and dividends 55.3 77.5 159.7 189.2 54.4 81.2 128.1 163.3 79.7 109.2 162.4 185.6
Domestic bonds 5.1 10.2 15.4 20.7 4.3 8.6 13.3 17.5 4.1 8.2 16.0 16.2
Domestic stocks 33.3 37.1 62.5 66.5 28.1 30.9 52.3 55.8 29.4 32.1 52.6 60.1
Foreign securities 12.0 22.2 71.0 88.0 18.9 35.5 53.2 77.4 42.7 62.6 84.6 97.8
Investment income on deposit premiums 9.8 19.7 29.3 37.8 9.1 18.1 27.0 34.5 8.1 16.1 32.3 31.3
Net interest and dividends 45.4 57.8 130.3 151.4 45.3 63.0 101.0 128.7 71.6 93.0 130.0 154.2
Gains/Losses on sales of securities 42.2 57.9 74.6 110.6 39.5 56.8 71.7 83.7 23.0 48.0 80.9 83.7
Impairment losses on securities 1.5 2.5 1.4 22.1 2.8 2.9 6.3 1.6 1.7 3.7 - 3.7
Gains/Losses on derivatives -2.9 -7.8 -16.7 -15.7 -5.8 -5.4 -8.0 -24.0 -2.4 -2.9 -2.2 -4.6
Other investment income and expenses 0.1 0.2 0.4 0.5 0.0 0.1 0.2 0.3 0.0 0.2 0.2 0.4
Net investment income 80.9 102.3 187.9 220.7 77.7 112.1 159.7 201.9 92.1 135.8 209.0 231.3
■Ordinary profit 100.5 45.4 197.0 223.9 145.7 93.9 134.3 157.2 178.5 246.5 288.0 291.0
■Net income 79.1 41.5 156.3 169.9 110.0 62.9 96.5 109.3 141.0 189.8 220.0 222.0

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Tokio Marine Holdings Inc. published this content on 19 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2021 08:42:07 UTC.