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Tokio Marine & Nichido

Nisshin Fire

Nisshin Fire

Tokio Marine & Nichido Life

Tokio Marine & Nichido Financial Life

Tokio Marine Millea SAST

Philadelphia Insurance Companies

Kiln Group

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Tokio Marine Holdings Tokio Marine & Nichido Nisshin Fire Tokyo Marine & Nichido Life Tokio Marine & Nichido Financial Life

Tokio Marine & Nichido

Summary of FY2011 1H results

 Net premiums written


Net premiums written FY2010 Net premiums written by lines of insurance

   

(unit: billion yen)


 FY2007FY2008FY2009FY2010FY2011
 1H958.9 928.4 870.2 874.0 885.5
 Full fiscal year1,912.1 1,813.4 1,736.0 1,742.7-
Net premiums written increased by 1.3% YoY to 885.5 billion yen mainly due to revenue increases in: i) fire insurance which saw favorable sales in both household and industrial sectors, and ii) automobile insurance and compulsory automobile liability insurance or "CALI" resulting from rate revisions.

 Expense ratio, Loss ratio, Combined ratio (All lines total)

Expense ratio, Loss ratio, Combined ratio


 FY2007FY2008FY2009FY2010 FY2011 1H
 Expense ratio31.5%34.6%34.0%33.5%31.7%
 Loss ratio61.6%67.4%67.9%67.5%87.8%
 Combined ratio93.1%102.1%101.9%101.0% 119.4%
Net loss ratio: Up by 21.0 points YoY to 87.8%, mainly due to a progress in claim payments centering on fire insurance related to the Great East Japan Earthquake, despite an improvement in auto insurance loss ratio due to the reversal effect of increased traffic volume in summer FY2010.
Net expense ratio: Improved by 2.5 points YoY to 31.7% as a result of the following factors: i) an increase in net premiums written, ii) a decrease in personnel expenses due to a decline of employees' bonuses, and iii) an decrease in non-personnel expenses due to a concentration of the timing of the start of live operations of new IT systems with large budget in 2H of FY2011.
Combined ratio: As a result, the combined ratio totaling both ratios of the above was 119.4%, up 18.5 points YoY.

 Net income

Net income

(unit: billion yen)


 FY2007FY2008FY2009FY2010FY2011
 1H62.7 20.6 56.3 93.5 92.0
 Full fiscal year122.9 71.1 94.4 100.7-
Underwriting profit increased by 19.0 billion yen YoY to 54.4 billion yen, primarily due to the release of catastrophe loss reserve and a decrease in business expenses despite an increase in incurred losses from typhoons and other natural disasters.
On the other hand, net investment income decreased by 30.3 billion yen YoY to 81.4 billion yen mainly due to a decrease in gains on sales of securities and lower dividends from overseas subsidiaries.
As a result, net interim income decreased to 92.0 billion yen, down 1.4 billion yen YoY.

 Major benchmark figures(non-consolidated)

(unit: million yen, unless otherwise specified)


Fiscal YearFY2007FY2008FY2009FY2010FY2011 1H
 Item(April 1, 2007-March 31, 2008)(April 1, 2008-March 31, 2009)(April 1, 2009-March 31, 2010)(April 1, 2010-March 31, 2011)(April 1, 2011-September 30, 2011)
 Net premiums written 1,912,1801,813,4121,736,0821,742,746885,578
 (% change from prior term) -0.8%-5.2%-4.3%0.4%1.3%
 Underwriting profit 39,37673,81281,792-31,11854,460
 (% change from prior term) 393.9%87.5%10.8%-138.0%53.6%
 Ordinary profit 183,97469,624147,401145,754128,897
 (% change from prior term) 17.7%-62.2%111.7%-1.1%-3.6%
 Net income 122,99271,10494,456100,71392,027
 (% change from prior term) 27.5%-42.2%32.8%6.6%-1.6%
 Loss ratio 61.6%67.4%67.9%67.5%87.8%
 Expense ratio 31.5%34.6%34.0%33.5%31.7%
 Interest and dividend income 203,380158,317108,453137,67180,775
 (% change from prior term) 21.7%-22.2%-31.5%26.9%-2.8%
 Return on assets under management (net income based) 2.79%2.22%1.53%2.00%-
 Common stock 101,994101,994101,994101,994 101,994
 Stockholders' equity 2,326,6241,435,5271,916,1391,676,2231,555,468
 Total assets 10,889,5628,413,4889,708,0468,670,0088,242,135
 Capital ratio 21.37%17.06%19.74%19.33%18.87%
 Solvency margin ratio 957.8%696.8%852.6%823.8%852.7%
 Number of employees 15,263 15,747 16,742 17,05117,660