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Reference Data: Overview of FY2015 Results
Reference Data: Overview of FY2015 Results
Millions of yen
FY2014 FY2015
Sompo Japan Nipponkoa
Change Change
Net premiums written 2,181,302 + 99,108 2,218,425 + 37,122
(excl. CALI) 1,876,099 + 92,170 1,911,844 + 35,744
Loss ratio 65.6% - 0.1pt 63.7% - 1.9pt
(excl. CALI) 63.2% + 0.5pt 61.0% - 2.1pt
Net expense ratio 31.8% - 0.4pt 31.6% - 0.2pt
(excl. CALI) 33.6% - 0.6pt 33.4% - 0.2pt
Combined ratio 97.4% - 0.5pt 95.3% - 2.1pt
(excl. CALI) 96.8% - 0.1pt 94.4% - 2.4pt
Underwriting result 56,860 + 12,628 104,771 + 47,911
(excl. CALI) 60,215 + 4,784 106,354 + 46,138
Underwriting profit (loss) 45,232 + 107,802 78,284 + 33,051
Investment profit 151,599 - 41,113 108,514 - 43,084
Ordinary profit (loss) 195,134 + 77,369 178,086 - 17,048
Net income (loss) 45,059 - 4,464 126,289 + 81,230
reference Adjusted profit
Net income (loss) 45,059 - 4,464 126,289 + 81,230
+provision for catastrophic loss reserve (after tax) - 7,788 - 15,788 - 1,783 + 6,004
+provision for reserve for price fluctuation (after tax) 6,310 + 1,105 5,721 - 588
-gains/losses on sales of securities and impairment losses on securities (after tax) 45,647 - 28,263 26,447 - 19,200
-special factors (after tax) - 80,060 - 53,274 - 12,391 + 67,669
Adjusted profit 77,994 + 62,390 116,171 + 38,177
1/17
Reference Data
Premiums
* The figures prior to September 1, 2014 are the sum of Sompo Japan and Nipponkoa.
Direct premiums written (excl. deposit premiums on saving-type policies) Millions of yen
Sompo Japan Nipponkoa FY2014 FY2015
Amount Change % Change Amount Change % Change
Fire & allied lines 354,075 + 16,351 + 4.8% 374,928 + 20,852 + 5.9%
Marine 51,881 + 669 + 1.3% 51,072 - 808 - 1.6%
Personal Accident 184,182 + 2,109 + 1.2% 185,288 + 1,106 + 0.6%
Voluntary Automobile 1,042,755 + 30,413 + 3.0% 1,070,807 + 28,051 + 2.7%
CALI 324,060 - 1,930 - 0.6% 316,107 - 7,953 - 2.5%
Other 320,223 + 18,015 + 6.0% 328,411 + 8,187 + 2.6%
(of which, liability) (173,827) (+ 8,450) (+ 5.1%) (173,756) (- 71) (- 0.0%)
All lines 2,277,179 + 65,628 + 3.0% 2,326,616 + 49,437 + 2.2%
All lines excl. CALI 1,953,118 + 67,559 + 3.6% 2,010,508 + 57,390 + 2.9%
(reference) YOY change of number of cars and unit premium of auto insurance (March 31, 2016)
* Performance evaluation basis
Sompo Japan Nipponkoa
Number of
cars Unit Premium
insured premium
2/17
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3/17
Reference Data
Exprenses
* The figures prior to September 1, 2014 are the sum of Sompo Japan and Nipponkoa.
4/17
Reference Data
Combined Ratio
* The figures prior to September 1, 2014 are the sum of Sompo Japan and Nipponkoa.
5/17
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Underwriting Funds
* The figures prior to September 1, 2014 are the sum of Sompo Japan and Nipponkoa.
Millions of yen
Sompo Japan Nipponkoa FY2014 FY2015 Change
Ordinary Reserves for Reserves for Ordinary Reserves for Reserves for Ordinary Reserves for Reserves for
Catastrophic Contingency Catastrophic Contingency Catastrophic Contingency
underwriting maturity policyholders' underwriting maturity policyholders' underwriting maturity policyholders'
loss reserve reserve loss reserve reserve loss reserve reserve
reserves*1 refund*2 dividends reserves*1 refund*2 dividends reserves*1 refund*2 dividends
Fire and allied lines*3 760,009 183,857 194 255,779 2,572 777,409 177,653 194 228,228 2,296 17,399 -6,204 --- -27,551 -275
Marine 17,409 49,985 --- --- --- 19,270 46,995 --- --- --- 1,860 -2,990 --- --- ---
Personal Accident 120,878 74,753 364 1,284,446 8,474 122,033 70,636 364 1,220,935 8,213 1,155 -4,116 --- -63,511 -260
Voluntary Automobile 302,872 64,903 --- --- --- 307,939 63,359 --- --- --- 5,066 -1,544 --- --- ---
CALI*3 403,817 --- --- --- --- 415,432 --- --- --- --- 11,615 --- --- --- ---
Other 297,457 177,351 52 55,238 403 308,465 189,701 52 54,116 429 11,008 12,350 --- -1,122 26
Total 1,902,444 550,851 611 1,595,464 11,449 1,950,550 548,346 611 1,503,279 10,939 48,105 -2,505 --- -92,184 -510
Total (excl. CALI) 1,498,627 550,851 611 1,595,464 11,449 1,535,117 548,346 611 1,503,279 10,939 36,490 -2,505 --- -92,184 -510
*1 Include reserves for maturity fund of non-saving-type insurance. Decrease of reserve that was caused by transfer of overseas policies is not included in change.
*2 Exclude reserves for maturity refund of non-saving-type insurance.
*3 Underwriting reserves of earthquake insurance and CALI are included in ordinary underwriting reserves.
Millions of yen
Sompo Japan Nipponkoa
FY2014 Additional FY2015 Additional YOY Change
provision for provision for
FY2015 FY2014
a) b) c) d) e)=b)-d)
Fire and allied lines 128,395 - 2,535 124,016 - 23,230 20,695
Marine 29,118 1,635 30,098 8,116 - 6,481
Personal Accident 69,725 - 1,169 68,549 - 6,566 5,396
Voluntary Automobile 413,025 - 7,542 405,460 - 12,309 4,767
CALI 89,835 - 794 89,040 1,987 - 2,781
Other 198,412 545 195,809 14,318 - 13,772
Total 928,513 - 9,860 912,975 - 17,684 7,823
Total (excl. CALI) 838,678 - 9,066 823,934 - 19,671 10,605
6/17
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7/17
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Business Forecasts
Millions of yen
Sompo Japan Nipponkoa
FY2015(A) FY2016(E) Change % Change
8/17
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Business Forecasts
W/P Loss ratio Millions of yen E/I Loss ratio Millions of yen
Sompo Japan Nipponkoa Sompo Japan Nipponkoa
Net claims paid W/P Loss ratio Net loss occurred E/I Loss ratio
FY2015(A) FY2016(E) Change FY2015(A) FY2016(E) Change FY2015(A) FY2016(E) Change FY2015(A) FY2016(E) Change
Fire and allied lines 218,518 182,679 - 35,838 67.5% 62.5% - 5.0pt Fire and allied lines 215,983 165,126 - 50,856 70.5% 56.3% - 14.2pt
Marine 32,733 29,149 - 3,583 67.1% 59.5% - 7.6pt Marine 34,369 28,517 - 5,852 69.4% 58.3% - 11.1pt
Personal Accident 100,507 99,533 - 974 58.1% 57.4% - 0.8pt Personal Accident 99,337 100,027 + 690 57.8% 58.9% + 1.1pt
Voluntary Automobile 567,681 557,019 - 10,661 60.7% 59.8% - 0.9pt Voluntary Automobile 560,138 558,642 - 1,496 60.3% 60.0% - 0.4pt
CALI 226,127 224,686 - 1,440 80.3% 81.1% + 0.8pt Other 142,470 155,908 + 13,437 57.5% 60.2% + 2.8pt
Other 141,925 149,673 + 7,748 55.1% 57.3% + 2.2pt (of which, liability) (74,804) (83,873) (+ 9,069) (54.5%) (58.8%) (+ 4.4pt)
(of which, liability) (76,701) (81,750) (+ 5,048) (53.2%) (57.2%) (+ 4.0pt) All lines 1,052,300 1,008,222 - 44,077 61.6% 59.3% - 2.3pt
All lines 1,287,493 1,242,743 - 44,750 63.7% 62.6% - 1.1pt * Excl. household earthquake and CALI
All lines (Excl. CALI) 1,061,366 1,018,056 - 43,309 61.0% 59.6% - 1.4pt
9/17
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Net commissions and brokerage fees 398,265 394,227 - 4,037 18.0% 18.0% + 0.1pt
Operating, general and administrative 302,494 311,995 + 9,500 13.6% 14.3% + 0.6pt
expenses related to underwriting
Total 700,759 706,223 + 5,463 31.6% 32.3% + 0.7pt
* Above figures are only for underwriting expenses.
* "Expense ratio" is the ratio of the each amount for underwriting expenses against net premiums written.
10/17
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Investment Asset portfolio
* The figures prior to September 1, 2014 are the sum of Sompo Japan and Nipponkoa.
Investment Profit
Millions of yen
Sompo Japan Nipponkoa
FY2014 FY2015 FY2016(E)
Change Change
Net interest and dividend income 67,779 64,096 - 3,683 63,006 - 1,089
(Interest and dividend income) (113,855) (109,938) (- 3,917) (105,135) (- 4,802)
(Investment income on deposit premium) (- 46,075) (- 45,841) (+ 233) (- 42,128) (+ 3,712)
Gain on money trusts 6,090 5,673 - 416 2,041 - 3,631
Gain on trading securities --- 3 +3 --- -3
Realized gain on security sales 70,950 60,584 - 10,365 63,981 + 3,396
(Realized gain on domestic stock sales) (55,451) (50,755) (- 4,696) (61,919) (+ 11,164)
Realized gain on security redemption 690 243 - 446 - 2,639 - 2,883
Impairment losses on securities - 919 - 28,784 - 27,865 - 2,000 + 26,784
(Impairment loss on domestic stocks) (- 118) (- 21,409) (- 21,290) (- 2,000) (+ 19,409)
Gain on derivative products - 4,561 5,649 + 10,210 - 5,212 - 10,861
FX gains/losses 13,583 5,500 - 8,082 2,363 - 3,137
Other investment income - 2,013 - 4,451 - 2,438 --- + 4,451
Total investment profit 151,599 108,514 - 43,084 121,540 + 13,025
11/17
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12/17
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Financial institutions 1,192 61,424 21,358 32,260 4,471 22,263 3,036 144,815 6.3%
+ 6.0% + 3.8% + 0.5% - 1.5% + 1.6% - 1.7% + 3.3%
Corporate 4,649 79,854 37,231 135,689 18,028 116,041 28,805 415,650 17.9%
+ 11.6% + 0.6% + 0.9% + 1.3% + 7.7% - 5.3% + 4.2%
Car dealers 2,220 3,241 643 201,082 114,914 1,945 493 322,319 13.9%
+ 20.8% - 1.1% + 6.0% - 2.3% + 3.1% + 5.0% + 3.0%
Car repair shops and 35,733 8,666 1,684 151,553 127,160 4,067 578 293,711 12.7%
other automobile related + 14.1% - 1.9% + 3.3% + 2.7% + 3.3% + 5.8% + 3.3%
Professionals 10,398 127,820 33,145 372,788 17,673 51,524 5,222 608,174 26.3%
+ 10.4% + 0.8% + 1.3% - 1.7% + 4.6% + 0.8% + 3.2%
Other 9,225 90,533 70,889 183,916 34,432 117,131 34,929 531,833 23.0%
- 1.2% + 1.0% + 0.3% - 17.1% + 0.9% + 4.7% - 0.8%
Total 63,417 371,540 164,952 1,077,291 316,680 312,974 73,066 2,316,506 100.0%
+ 7.0% + 1.2% + 2.2% - 2.1% + 4.0% + 0.0% + 2.4%
Insured Gains/Losses
Categories Direct Treaty Outstanding Amount for FY2015
Insurance Reinsurance Total Loss Net of Loss *5
*3 *4 Reserve Reserves
*4 Treaty Reinsurance is a portfolio-based reinsurance where certain parts of policies underwritten by a primary insurer are
ceded automatically to the reinsurer, Sompo Japan Nipponkoa , in accordance with the conditions agreed by the primary insurer
and the reinsurer.
*5 Total amount of 0.2 billion yen loss is comprised of 0.07 billion yen of mainly loss payments, 0.19 billion yen of change of loss
reserve. Financial guarantee insurance is not supposed to book mark-to-market unrealized gains/losses through income
statement as it is an insurance policy.
13/17
Reference Data
Principal Indicators
Saison Automobile and Fire Sonpo 24
FY2015 FY2015
FY2014 FY2014
change change
Number of policies 405,572 515,138 + 109,566 295,755 285,872 - 9,883
Loss ratio 63.5% 64.4% + 0.9pt 64.5% 61.1% - 3.5pt
Net expense ratio 52.8% 43.1% - 9.7pt 33.4% 33.9% + 0.4pt
14/17
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15/17
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16/17
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Millions of yen
Net premiums written Net income
Companies FY2014 FY2015 Change 2016(E) Change FY2014 FY2015 Change FY2016(E) Change
North America SJ America 17,826 22,076 + 4,249 22,717 + 640 2,192 4,440 + 2,247 1,754 - 2,686
Europe SJNK Europe+NK Europe 4,737 4,528 - 209 1,301 - 3,226 306 605 + 299 55 - 549
Sompo Canopius 86,691 127,148 + 40,456 147,715 + 20,567 9,894 7,694 - 2,199 6,116 - 1,577
Europe Total 91,429 131,677 + 40,247 149,017 + 17,340 10,200 8,300 - 1,900 6,172 - 2,127
Turkey SJ Sigorta 22,810 30,269 + 7,459 35,925 + 5,656 2,239 1,663 - 575 2,033 + 369
Singapore Sompo Singapore 9,564 8,475 - 1,089 7,338 - 1,136 915 1,054 + 139 614 - 440
Malaysia Berjaya Sompo 11,822 10,624 - 1,197 12,974 + 2,349 1,828 1,650 - 178 1,090 - 559
China SJNK China+NK China 9,143 6,610 - 2,533 6,671 + 61 420 - 569 - 989 87 + 656
Hongkong SJNK Hongkong 4,092 4,157 + 65 3,646 - 510 202 443 + 240 449 +6
India Universal Sompo 2,533 2,516 - 16 3,584 + 1,067 115 204 + 89 123 - 80
Asia & Middle East Total 59,966 62,653 + 2,687 70,141 + 7,487 5,721 4,447 - 1,273 4,399 - 48
Brazil Yasuda Maritima 122,375 77,931 - 44,444 98,187 + 20,255 555 2,140 + 1,585 1,829 - 311
Total 291,598 294,339 + 2,740 340,063 + 45,724 18,669 19,329 + 659 14,154 - 5,174
* Net premiums written of subsidiaries and affiliates reflect holding shares of each company.
This treatment does not coincide with financial statements.
The net income figures also have been adjusted to reflect shareholdings and other factors.
17/17