May 23, 2007
Millea Holdings, Inc.
President: Kunio Ishihara
TSE code number: 8766
FY2007 Business Plan of Millea Holdings, Inc. (Adjusted Earnings Basis)
Millea Holdings, Inc. ("Millea Holdings", President and Director: Kunio Ishihara) has announced its business plan on an adjusted earnings basis for the fiscal year ending March 31, 2008 ("FY 2007").
In the fiscal year ended March 31, 2007 ("FY 2006"), the domestic property and casualty insurance business and the domestic life insurance business recorded adjusted earnings below the amount targeted in Millea Group's revised plan (announced on November 22, 2006). However, Millea Group recorded 169.7 billion yen in total adjusted earnings, slightly exceeding the amount targeted in Millea Group's revised plan. This was attributable primarily to a steady growth in the overseas insurance business which was led by favorable business results in the reinsurance business.
In FY 2007, Millea Group targets 156.3 billion yen in total adjusted earnings. The details of the FY 2007 business plan are as follows.
In the domestic property and casualty insurance business, an increase in the amount of net premiums written is projected; however, expenses to be incurred for an enhancement to the compliance procedures of our business operations are expected to increase. Based on this projection, Millea Group aims to achieve 88.6 billion yen in adjusted earnings in the domestic property and casualty insurance business.
In the domestic life insurance business, a decrease in sales of new policies and an increase in the operational costs for infrastructure improvement, including system development, are projected. Accordingly, Millea Group sets its target for adjusted earnings in the domestic life insurance business at 36.1 billion yen.
In the overseas insurance business, Millea Group targets 27.8 billion yen in adjusted earnings to be achieved by the continuous expansion of our business basis.
In financial and other businesses, Millea Group aims to achieve 3.6 billion yen in adjusted earnings, almost the same amount as recorded in FY 2006.
Business performance indices for major business segments
1. Domestic property and casualty insurance business
Indices for Tokio Marine & Nichido and Nisshin Fire are as follows:
2. Domestic life insurance business
Indices for Tokio Marine & Nichido Life and Tokio Marine & Nichido Financial Life are as follows:
3. Overseas insurance business
Indices for the overseas insurance business are as follows:
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