(Yen in millions, %)

Net Premiums Written Millea Holdings Group Tokio Marine Nichido Fire Nine months ended December 31, 2002 Year to Year (%) Nine months ended December 31, 2002 Year to Year (%) Nine months ended December 31, 2002 Year to Year (%) Fire 177,312 105.1 122,859 108.7 54,453 97.8 Marine 41,679 107.3 40,260 107.8 1,419 96.0 Personal acciden 118,718 101.4 95,492 102.0 23,226 99.1 Voluntary automobile 678,399 99.0 522,234 99.3 156,165 98.1 Compulsory automobile liability (CALI) 200,258 172.1 153,939 173.7 46,318 167.1 Others 170,485 109.5 154,290 109.6 16,194 108.6 Total 1,386,853 108.2 1,089,075 109.0 297,778 105.4 *  1,314,672 102.6 1,033,307 103.4 281,365 99.6 * Excluding the impact of revisions to CALI regulations.   Direct Premiums Written Millea Holdings Group Tokio Marine Nichido Fire Nine months ended December 31, 2002 Year to Year (%) Nine months ended December 31, 2002 Year to Year (%) Nine months ended December 31, 2002 Year to Year (%) Fire 206,964 100.3 141,419 101.8 65,545 97.1 Marine 46,316 103.8 44,657 104.0 1,659 99.3 Personal acciden 122,082 101.6 99,083 102.5 22,999 98.0 Voluntary automobile 687,361 99.1 528,388 99.3 158,973 98.3 CALI 244,646 121.5 186,434 121.1 58,212 122.6 Others 172,693 106.3 153,717 106.1 18,976 107.8 Total 1,480,066 103.6 1,153,699 104.0 326,366 102.1

(Note 1) Premiums written are accounted for upon receipt of insurance premiums from policyholders. This recognition policy differs from those employed for the preparation of annual and semi-annual reports.

(Note 2) Net premiums written are derived by adjusting direct premiums written for reinsurance transactions.

Comments:

Net premiums written for the nine months ended December 31, 2002 increased by 8.2% as compared to the same period of the previous fiscal year. Excluding the impact of revisions to CALI reinsurance regulations, the increase amounts to 2.6%.

While the premiums of voluntary automobile insurance declined, we achieved steady growth in fire insurance, marine insurance and others mainly due to the following, increase in over-the-counter sales of fire insurance through banks, increase in the sales of third sector products, raise in reinsurance premiums reflecting the universal market trend, and changes in the reinsurance scheme. For CALI, premiums increased due to the revisions to CALI reinsurance regulations.