Tokio Marine : Information of major subsidiaries’ business results for the fiscal year ended March 31, 2021

Information of major subsidiaries' business results for the fiscal year ended March 31, 2021

May 20, 2021

TOKIO MARINE HOLDINGS, INC.

(Securities Code Number 8766)

			Page
1.	Key figures of consolidated results
	(1)	Tokio Marine Holdings, Inc. (consolidated)	1
	(2)	Insurance premiums	1
	(3)	Net income attributable to owners of the parent	1
2.	Key figures of the domestic non-life insurance business
	(1)	Tokio Marine & Nichido Fire Insurance Co., Ltd. (non-consolidated)	2
	(2)	Nisshin Fire & Marine Insurance Co., Ltd. (non-consolidated)	3
	(3)	E.design Insurance Co., Ltd. (non-consolidated)	4
3.	Key figures of the domestic life insurance business	5
4.	Business forecasts for the fiscal year 2021 (April 1, 2021 to March 31, 2022)	6
5.	Dividend forecasts (Tokio Marine Holdings, Inc.)	6
Financial statements
1.	Tokio Marine & Nichido Fire Insurance Co., Ltd. (non-consolidated)
	(1)	Balance sheet	7
	(2)	Statement of income	9
	(3)	Underwriting	10
	Direct premiums written excluding deposit premiums from policyholders
	Net premiums written
	Net claims paid
	(4)	Investment	11
	Income yield
	Gains (losses) on sales of securities, impairment losses on securities
	Available-for-sale securities
2.	Nisshin Fire & Marine Insurance Co., Ltd. (non-consolidated)
	(1)	Balance sheet	12
	(2)	Statement of income	14
	(3)	Underwriting	15
	Direct premiums written excluding deposit premiums from policyholders
	Net premiums written
	Net claims paid
	(4)	Investment	16
	Income yield
	Gains (losses) on sales of securities, impairment losses on securities
	Available-for-sale securities
3.	E.design Insurance Co., Ltd. (non-consolidated)
	(1)	Balance sheet	17
	(2)	Statement of income	18

		Page
4. Tokio Marine & Nichido Life Insurance Co., Ltd. (non-consolidated)
(1)	Balance sheet	19
(2)	Statement of income	21
Breakdown of Ordinary profit (Core operating profit)
(3)	Underwriting (life)	23
Amount of policies
Annualized premiums
(5)	Investment (General account)	24
Realized yield
Gains (losses) on sales of securities, impairment losses on securities
Fair value information on securities (Securities with fair value other than trading securities)
Glossary of terminology	25
Supplementary information of business results for the fiscal year 2020
・ Tokio Marine & Nichido Fire Insurance Co., Ltd. (non-consolidated)	28
・ Nisshin Fire & Marine Insurance Co., Ltd. (non-consolidated)	31

1. Key figures of consolidated results

(1) Tokio Marine Holdings, Inc. (consolidated)

				(Yen in millions)
	Fiscal year 2019	Fiscal year 2020	Increase	Rate of change
	(Decrease)
Ordinary income	5,465,432	5,461,195	(4,237)	(0.1)%
Ordinary profit	363,945	266,735	(97,210)	(26.7)
Net income attributable to owners of the parent	259,763	161,801	(97,961)	(37.7)

(2) Insurance premiums

						(Yen in millions)
			Fiscal year 2019	Fiscal year 2020	Increase	Rate of change
			(Decrease)
Insurance premiums	4,580,296	4,561,502	(18,793)	(0.4)%
	Net premiums written (non-life)	3,598,396	3,606,548	8,152	0.2
		Tokio Marine & Nichido	2,247,508	2,261,313	13,805	0.6
		Nisshin Fire	148,850	147,750	(1,100)	(0.7)
		Overseas subsidiaries	1,170,646	1,166,780	(3,866)	(0.3)
		Others	31,390	30,704	(686)	(2.2)
	Life insurance premiums	981,900	954,954	(26,946)	(2.7)
		Tokio Marine & Nichido Life	627,209	598,822	(28,386)	(4.5)
		Overseas subsidiaries	354,956	356,499	1,543	0.4

(3) Net income attributable to owners of the parent

						(Yen in millions)
		Fiscal year 2019	Fiscal year 2020	Increase	Rate of change
		(Decrease)
Net income attributable to owners of the parent	259,763		161,801	(97,961)	(37.7)%
	Tokio Marine & Nichido	169,966		109,379	(60,587)	(35.6)
	Nisshin Fire	3,757		17,077	13,320	354.5
	Tokio Marine & Nichido Life	34,259		46,459	12,199	35.6
	Overseas subsidiaries (*)	176,883		130,719	(46,164)	(26.1)
	Financial and other business subsidiaries (*)	3,175		6,994	3,819	120.3
	Consolidation adjustment, etc.	(128,278)		(148,827)	(20,548)	-

(*)Figures have been changed in this document to exclude purchase method adjustments for amortization of intangible fixed assets and others.

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2. Key figures of the domestic non-life insurance business

(1) Tokio Marine & Nichido Fire Insurance Co., Ltd. (non-consolidated)

				(Yen in millions)
		Fiscal year 2019	Fiscal year 2020	Increase
		(Decrease)
Key components of ordinary profit
	(＋) Net premiums written	2,247,508	2,261,313	13,805
	(－) Net claims paid	1,353,232	1,185,264	(167,968)
	(－) Loss adjustment expenses	113,195	113,777	582
	(－) Agency commissions and brokerage	415,939	432,369	16,429
Underwriting	(－) Operating and general administrative expenses on	275,502	263,060	(12,441)
	underwriting
	(－) Provision for (reversal of) outstanding claims	8,410	99,804	91,394
	(－) Provision for (reversal of) underwriting reserves	(4,242)	106,923	111,166
	Underwriting profit (loss)	38,490	(16,965)	(55,455)
	(＋) Interest and dividends	189,243	163,314	(25,928)
Investment and	(＋) Gains (losses) on sales of securities	110,647	83,765	(26,881)
(－) Impairment losses on securities	22,172	1,609	(20,562)
other
(＋) Gains (losses) on derivatives	(15,787)	(24,001)	(8,213)
	Net investment income (loss) and other	182,051	170,247	(11,804)
Ordinary profit (loss)		223,945	157,272	(66,672)
(＋) Extraordinary gains	4,136	274	(3,862)
(－) Extraordinary losses	16,828	18,342	1,514
Net income (loss)		169,966	109,379	(60,587)
Loss ratio (private sector, E/I basis)	66.3 %	60.8 %	(5.5)
Fire and allied lines	91.7	84.1	(7.6)
Voluntary automobile	60.8	54.3	(6.5)
Expense ratio (private sector)	32.4	31.6	(0.8)
Combined ratio (private sector)	98.7	92.5	(6.2)
Net incurred losses related to natural catastrophe	162,525	96,763	(65,761)
Fire and allied lines	130,644	86,831	(43,813)
Voluntary automobile	14,494	4,876	(9,617)
Increase (decrease) in catastrophe loss reserve	(66,043)	71,827	137,870
Fire and allied lines	(41,598)	22,008	63,606
Voluntary automobile	(18,047)	35,466	53,513
Balance of catastrophe loss reserve	900,626	972,454	71,827
Reservation ratio of catastrophe loss reserve	45.7 %	48.1 %	2.4

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