Millea Holdings, Inc.
President: Kunio Ishihara
TSE code number: 8766
Millea Holdings, Inc. (the "Company") announced today that it has revised the original forecasts of the non-consolidated business results of its consolidated subsidiary, Nisshin Fire & Marine Insurance Co., Ltd. ("Nisshin Fire"), for the fiscal year ended March 31, 2007 (from April 1, 2006 to March 31, 2007) as detailed below. The revision has minimal impact on the forecasts of consolidated business results of the Company for the year ended March 31, 2007.
1. Revised forecast of the non-consolidated business results of Nisshin Fire for the fiscal year
ended March 31, 2007
(Unit: Million yen, %)
| | Net Premiums Written | Ordinary profit | Net income |
| Original forecast (A) (*1) | 147,000 | 1,500 | 800 |
| Revised forecast (B) | 145,000 | 700 | 400 |
| Difference (B)-(A) | -2,000 | -800 | -400 |
| Rate of increase/decrease | -1.4 % | -53.3% | -50.0% |
| (Reference) Actual results for the fiscal year ended March 31, 2006 | 144,620 | 5,359 | 2,943 |
(*1) Announced on November 22, 2006.
2. Reasons for the revisions
The downward revision of forecasted ordinary profit and net income is primarily due to an increase in the amount of insurance reserves. This increase is attributable to newly introduced actuarial methods applied to the calculation of insurance reserves.
