SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
Dated August 10, 2005
Commission File Number: 0-31376
MILLEA HOLDINGS, INC.
(Translation of Registrant’s name into English)
Tokyo Kaijo Nichido Building Shinkan, 1-2-1 Marunouchi, Chiyoda-ku
Tokyo 100-0005, Japan
(Address of principal executive offices)
Indicate by check mark whether the Registrant files or will file
annual reports under cover of Form 20-F or Form 40-F:
Form 20-F x Form 40-F ¨
Indicate by check mark whether the Registrant by furnishing
the information contained in this form is also thereby furnishing
the information to the Commission pursuant to Rule 12g3-2(b) under
the Securities Exchange Act of 1934.
Yes ¨ No x
Item | ||
1. | Summary of consolidated business results of Millea Holdings, Inc. under Japanese GAAP for the three months ended June 30, 2005, dated August 10, 2005. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| KABUSHIKI KAISHA MILLEA HOLDINGS | ||||
| (Millea Holdings, Inc.) | ||||
| August 10, 2005 | By: | /s/ YOSHINORI ISHII | ||
| Group Leader, | ||||
| Corporate Legal Department | ||||
(English translation)
Summary of consolidated business results of Millea Holdings, Inc. under Japanese GAAP for the three months ended June 30, 2005
August 10, 2005
Company Name: Millea Holdings, Inc.
Securities Code Number: 8766
Stock Exchange Listings: Tokyo and Osaka
Representative: Kunio Ishihara, President, Millea Holdings, Inc.
| Contact: | Toshihiko Aizawa, Corporate Planning Dept., Millea Holdings, Inc. Phone: 03-6212-3341 | |
| Noriaki Tashimo, Corporate Accounting Dept., Millea Holdings, Inc. Phone: 03-6212-3344 | ||
1. Matters regarding the presentation of quarterly results
Difference in accounting method for recognizing net premiums written: Applicable
The recognition policy for net premiums written employed for quarterly figures, such as the inclusion of premiums for insurance contracts which have not started as of June 30, 2005, is different from the recognition policy employed for annual and semi-annual reports.
2. Summary of business results for the three months ended June 30, 2005
(From April 1, 2005 through June 30, 2005)
Amounts are truncated and percentages are rounded to the nearest one-tenth of one percent.
(1) Net premiums written
| Yen in millions | % | |||
For the three months ended June 30, 2005 | 484,658 | -1.2 | ||
For the three months ended June 30, 2004 | 490,520 | 2.7 | ||
(Reference) For the year ended March 31, 2005 | 1,925,081 | -1.0 |
(Note) Percentages show increase or decrease from the same period of the previous year.
(Supplementary information regarding net premiums written)
Increase from the period of three months ended June 30, 2004 is -1.0% excluding the effect on abolition of the government reinsurance for Compulsory Automobile Liability Insurance (CALI).
Tokio Marine’s reinsurance premiums ceded for the three months ended June 30, 2004 is recognized differently from the previous years due to the merger of Tokio Marine and Nichido Fire. Increase in net premiums written for the three months ended June 30, 2005 for Fire, in particular, is temporarily lowered due to this difference.
(2) Matters that had a significant effect on financial conditions and results of operations for the three months ended June 30, 2005
None.
3. Forecast of business results for the year ending March 31, 2006
(From April 1, 2005 through March 31, 2006)
No changes.
<Consolidated results>
Premiums written and claims paid by lines of insurance
Direct premiums written (including funds for deposit-type insurance)
(Yen in millions, %)
| Three months ended June 30, 2005 (From April 1, 2005 to June 30, 2005) | Three months ended June 30, 2004 (From April 1, 2004 to June 30, 2004) | (Reference) Year ended March 31, 2005 (From April 1, 2004 to March 31, 2005) | ||||||||||||||||
| Premiums | Increase/ decrease | Composition | Premiums | Increase/ decrease | Composition | Premiums | Increase/ decrease | Composition | ||||||||||
Fire | 83,793 | 7.0 | 14.3 | 78,314 | -3.8 | 13.6 | 348,974 | -0.7 | 16.0 | |||||||||
Marine | 20,509 | 9.5 | 3.5 | 18,724 | 6.4 | 3.3 | 78,520 | 5.0 | 3.6 | |||||||||
Personal accident | 102,617 | 13.5 | 17.5 | 90,444 | -6.9 | 15.8 | 326,077 | -6.6 | 15.0 | |||||||||
Automobile | 230,876 | -0.5 | 39.3 | 232,153 | -1.6 | 40.4 | 869,048 | -2.2 | 39.9 | |||||||||
Compulsory automobile liability (CALI) | 88,309 | -4.5 | 15.0 | 92,498 | -2.0 | 16.1 | 302,955 | -2.6 | 13.9 | |||||||||
Others | 60,951 | -1.9 | 10.4 | 62,116 | 3.1 | 10.8 | 252,565 | 1.8 | 11.6 | |||||||||
Total | 587,059 | 2.2 | 100.0 | 574,253 | -2.1 | 100.0 | 2,178,142 | -2.0 | 100.0 | |||||||||
Fund for deposit-type insurance | 69,505 | 22.9 | 11.8 | 56,556 | -16.0 | 9.8 | 226,848 | -10.8 | 10.4 | |||||||||
Net premiums written
(Yen in millions, %)
Three months ended June 30, 2005 (From April 1, 2005 to June 30, 2005) | Three months ended June 30, 2004 (From April 1, 2004 to June 30, 2004) | (Reference) Year ended March 31, 2005 (From April 1, 2004 to March 31, 2005) | ||||||||||||||||
| Premiums | Increase/ decrease | Composition | Premiums | Increase/ decrease | Composition | Premiums | Increase/ decrease | Composition | ||||||||||
Fire | 55,343 | -9.6 | 11.4 | 61,189 | 15.6 | 12.5 | 263,184 | -2.4 | 13.7 | |||||||||
Marine | 17,481 | 8.3 | 3.6 | 16,145 | 9.8 | 3.3 | 73,139 | 7.1 | 3.8 | |||||||||
Personal accident | 44,440 | 1.5 | 9.2 | 43,804 | 1.6 | 8.9 | 150,983 | -0.7 | 7.8 | |||||||||
Automobile | 230,186 | -0.2 | 47.5 | 230,587 | -1.0 | 47.0 | 861,082 | -2.0 | 44.7 | |||||||||
CALI | 76,126 | -3.4 | 15.7 | 78,790 | 1.1 | 16.1 | 328,846 | -1.4 | 17.1 | |||||||||
Others | 61,080 | 1.8 | 12.6 | 60,004 | 7.5 | 12.2 | 247,844 | 2.6 | 12.9 | |||||||||
Total | 484,658 | -1.2 | 100.0 | 490,520 | 2.7 | 100.0 | 1,925,081 | -1.0 | 100.0 | |||||||||
* | 451,947 | -1.0 | 456,607 | 2.8 | 1,771,839 | -0.9 | ||||||||||||
| * | Excluding the effect of the abolition of government reinsurance for compulsory automobile liability insurance (CALI). |
Net claims paid
(Yen in millions, %)
Three months ended June 30, 2005 (From April 1, 2005 to June 30, 2005) | Three months ended June 30, 2004 (From April 1, 2004 to June 30, 2004) | (Reference) Year ended March 31, 2005 (From April 1, 2004 to March 31, 2005) | ||||||||||||||||
| Premiums | Increase/ decrease | Composition | Premiums | Increase/ decrease | Composition | Premiums | Increase/ decrease | Composition | ||||||||||
Fire | 33,476 | 96.7 | 12.3 | 17,018 | -15.6 | 7.2 | 188,319 | 128.9 | 16.5 | |||||||||
Marine | 8,126 | 28.1 | 3.0 | 6,342 | -39.0 | 2.7 | 36,744 | -6.8 | 3.2 | |||||||||
Personal accident | 16,002 | -7.1 | 5.9 | 17,216 | -5.7 | 7.3 | 61,132 | -7.2 | 5.3 | |||||||||
Automobile | 129,140 | 5.1 | 47.6 | 122,823 | -0.1 | 51.8 | 526,367 | 4.1 | 46.0 | |||||||||
CALI | 53,887 | 26.7 | 19.9 | 42,520 | 47.2 | 17.9 | 192,041 | 39.8 | 16.8 | |||||||||
Others | 30,670 | -2.3 | 11.3 | 31,385 | 9.9 | 13.2 | 139,410 | 10.4 | 12.2 | |||||||||
Total | 271,304 | 14.3 | 100.0 | 237,307 | 3.5 | 100.0 | 1,144,014 | 19.5 | 100.0 | |||||||||
* | 242,985 | 10.4 | 220,189 | -2.3 | 1,054,979 | 14.4 | ||||||||||||
| * | Excluding the effect of the abolition of government reinsurance for compulsory automobile liability insurance (CALI). |
(Note) Numbers are after elimination of inter-segment transactions.
<Consolidated results>
Securities
(Yen in millions)
| As of June 30, 2005 | As of June 30, 2004 | (Reference) As of March 31, 2005 | ||||||||||||||||
| Acquisition cost | Market value | Difference | Acquisition cost | Market value | Difference | Acquisition cost | Market value | Difference | ||||||||||
Bonds | 2,576,373 | 2,610,136 | 33,763 | 2,746,848 | 2,692,550 | -54,298 | 3,186,243 | 3,201,270 | 15,027 | |||||||||
Stocks | 1,178,370 | 2,917,607 | 1,739,236 | 1,277,573 | 3,044,836 | 1,767,263 | 1,196,513 | 2,953,898 | 1,757,385 | |||||||||
Foreign securities | 559,531 | 573,599 | 14,067 | 464,457 | 462,706 | -1,750 | 553,691 | 557,788 | 4,096 | |||||||||
Others | 241,339 | 259,910 | 18,571 | 146,653 | 154,344 | 7,690 | 211,627 | 224,843 | 13,215 | |||||||||
Total | 4,555,614 | 6,361,253 | 1,805,639 | 4,635,533 | 6,354,438 | 1,718,905 | 5,148,076 | 6,937,801 | 1,789,725 | |||||||||
| (Note 1) | The table above shows securities with a market value other than (a) trading securities and (b) debt securities held to maturity with a market value. | |
| (Note 2) | Acquisition costs as of June 30, 2005 are not amortized and impairment losses are not recognized. Acquisition costs as of March 31, 2005 are amortized and impairment losses have been recognized. | |
| (Note 3) | Market values are based on various considerations including quoted prices at the end of the month. | |
| (Note 4) | The table above includes foreign mortgage securities as well as securities on the balance sheet. | |
<Consolidated results>
Derivative financial instruments
(Yen in millions)
| As of June 30, 2005 | As of June 30, 2004 | (Reference) As of March 31, 2005 | ||||||||||||||||
Contract amount | Market value | Unrealized gain or loss | Contract amount | Market value | Unrealized gain or loss | Contract amount | Market value | Unrealized gain or loss | ||||||||||
Foreign currency-related instruments | ||||||||||||||||||
Foreign exchange forwards | ||||||||||||||||||
Short | 244,160 | -3,298 | -3,298 | 133,527 | 334 | 334 | 184,998 | -3,423 | -3,423 | |||||||||
Long | 51,623 | 764 | 764 | 29,907 | -324 | -324 | 15,118 | 141 | 141 | |||||||||
Currency options | ||||||||||||||||||
Short | 33,868 | 70,926 | 862 | |||||||||||||||
| 336 | 601 | -264 | 426 | 169 | 257 | 32 | 45 | -12 | ||||||||||
Long | 42,962 | 51,436 | 307 | |||||||||||||||
| 395 | 811 | 416 | 549 | 240 | -308 | 20 | 1 | -19 | ||||||||||
Currency swaps | 1,017,829 | -2,923 | -2,923 | 649,124 | -95 | -95 | 906,530 | -4,252 | -4,252 | |||||||||
Interest rate-related instruments | ||||||||||||||||||
Interest forward | ||||||||||||||||||
Short | 38,719 | -14 | -14 | 13,422 | -9 | -9 | 4,020 | -0 | -0 | |||||||||
Long | 138,444 | 6 | 6 | 92,681 | -74 | -74 | — | — | — | |||||||||
Interest forward options | ||||||||||||||||||
Short | — | 84,792 | — | |||||||||||||||
| — | — | — | 19 | 8 | 10 | — | — | — | ||||||||||
Long | 26,057 | 21,143 | — | |||||||||||||||
| 1 | 1 | -0 | 9 | 11 | 1 | — | — | — | ||||||||||
Interest options | ||||||||||||||||||
Short | 463,637 | 75,228 | 81,314 | |||||||||||||||
| 1,361 | 826 | 535 | 457 | 554 | -96 | 240 | 240 | -0 | ||||||||||
Long | 65,066 | 43,763 | 43,537 | |||||||||||||||
| 461 | 147 | -313 | 447 | 480 | 33 | 414 | 228 | -185 | ||||||||||
Interest rate swap | 9,068,083 | 65,236 | 65,236 | 7,884,473 | 40,785 | 40,875 | 8,510,118 | 65,296 | 65,296 | |||||||||
Equity-related instruments | ||||||||||||||||||
Equity index futures | ||||||||||||||||||
Short | 26,273 | -253 | -253 | 26,725 | -633 | -633 | 13,348 | 140 | 140 | |||||||||
Long | 25,478 | 233 | 233 | 10,103 | 193 | 193 | 10,617 | -178 | -178 | |||||||||
Equity index options | ||||||||||||||||||
Short | 66,817 | 44,642 | 27,486 | |||||||||||||||
| 879 | -544 | 1,424 | 594 | -833 | 1,427 | 508 | -398 | 906 | ||||||||||
Long | 61,110 | 42,120 | 38,680 | |||||||||||||||
| 1,064 | -283 | -1,347 | 895 | -413 | -1,308 | 884 | -68 | -953 | ||||||||||
Equity options | ||||||||||||||||||
Short | 509 | 1,387 | 1,550 | |||||||||||||||
| 21 | 16 | 5 | 68 | 49 | 18 | 67 | 73 | -5 | ||||||||||
Long | 680 | 1,558 | 1,721 | |||||||||||||||
| 43 | 50 | 6 | 65 | 83 | 17 | 63 | 107 | 44 | ||||||||||
Bond-related instruments | ||||||||||||||||||
Bond futures | ||||||||||||||||||
Short | 70,656 | -197 | -197 | 60,141 | -353 | -353 | 116,012 | -906 | -906 | |||||||||
Long | 85,965 | 377 | 377 | 39,651 | 2 | 2 | 25,576 | 286 | 286 | |||||||||
Bond futures options | ||||||||||||||||||
Short | 98,322 | 81,220 | 4,020 | |||||||||||||||
| 97 | 83 | 14 | 259 | 223 | 35 | 4 | 1 | 3 | ||||||||||
Long | 40,673 | 80,033 | 4,080 | |||||||||||||||
| 124 | 128 | 3 | 323 | 257 | -65 | 12 | 3 | -8 | ||||||||||
Over-the-counter bond options | ||||||||||||||||||
Short | 191,290 | 3,450 | 18,373 | |||||||||||||||
| 292 | 393 | -100 | 11 | 18 | -7 | — | 25 | -25 | ||||||||||
Long | 19,543 | 3,450 | — | |||||||||||||||
| 30 | 0 | -29 | 12 | 3 | -9 | — | — | — | ||||||||||
Weather-related instruments | ||||||||||||||||||
Weather derivatives | ||||||||||||||||||
Short | 2,013 | 4,476 | 1,969 | |||||||||||||||
| 113 | 63 | 49 | 127 | 742 | -615 | 98 | -286 | 385 | ||||||||||
Credit-related instruments | ||||||||||||||||||
Credit derivatives | ||||||||||||||||||
Short | 1,561,742 | 2,304 | 2,304 | 1,964,830 | -594 | -594 | 1,902,280 | 2,862 | 2,862 | |||||||||
Long | 324,128 | -4,111 | -4,111 | 408,177 | -5,499 | -5,499 | 401,982 | -5,253 | -5,253 | |||||||||
Commodity | ||||||||||||||||||
Commodity swap | 82,420 | 1,193 | 1,193 | 68,905 | 450 | 450 | 68,966 | 451 | 451 | |||||||||
Others | ||||||||||||||||||
Inflation indexed bonds | 9,400 | — | 18,400 | |||||||||||||||
| 712 | 508 | -204 | — | — | — | 1,452 | 1,362 | -90 | ||||||||||
Total | 13,857,477 | 62,120 | 59,510 | 11,991,303 | 35,779 | 33,573 | 12,401,875 | 56,501 | 55,203 | |||||||||
| (Note 1) | Option premiums are shown beneath the contract amounts for currency options, interest forward options, interest options, equity index options, equity options, bond futures options, over-the-counter bond options and weather derivatives and acqusition cost is shown beneath the contract amounts for inflation indexed bonds. | |
| (Note 2) | The synthetic option is classified into transactions such as short or long by receiving or paying option premium at the time of the contract. | |
| (Note 3) | Forward transactions translated at contracted rate, the relating forward contracts of which qualify for hedge accounting, are not included. | |
<Reference>
Non-consolidated results of Tokio Marine & Nichido
Direct premiums written (including funds for deposit-type insurance)
(Yen in millions, %)
Three months ended June 30, 2005 (From April 1, 2005 to June 30, 2005) | Three months ended June 30, 2004 (From April 1, 2004 to June 30, 2004) | (Reference) Year ended March 31, 2005 (From April 1, 2004 to March 31, 2005) | ||||||||||||||||
| Premiums | Increase/ decrease | Composition | Premiums | Increase/ decrease | Composition | Premiums | Increase/ decrease | Composition | ||||||||||
Fire | 81,644 | 6.7 | 14.2 | 76,541 | -4.3 | 13.5 | 341,502 | -1.0 | 15.9 | |||||||||
Marine | 17,560 | 6.5 | 3.0 | 16,489 | 2.0 | 2.9 | 68,386 | 2.4 | 3.2 | |||||||||
Personal accident | 102,440 | 13.5 | 17.8 | 90,282 | -6.8 | 16.0 | 325,404 | -6.6 | 15.2 | |||||||||
Automobile | 229,462 | -0.6 | 39.8 | 230,769 | -1.7 | 40.8 | 863,193 | -2.4 | 40.3 | |||||||||
Compulsory automobile liability (CALI) | 88,309 | -4.5 | 15.3 | 92,498 | -2.0 | 16.4 | 302,955 | -2.6 | 14.1 | |||||||||
Others | 57,257 | -2.3 | 9.9 | 58,587 | 0.3 | 10.4 | 241,244 | 0.9 | 11.3 | |||||||||
Total | 576,675 | 2.0 | 100.0 | 565,169 | -2.7 | 100.0 | 2,142,686 | -2.4 | 100.0 | |||||||||
Fund for deposit-type insurance | 69,505 | 22.9 | 12.1 | 56,556 | -16.0 | 10.0 | 226,848 | -10.8 | 10.6 | |||||||||
Net premiums written
(Yen in millions, %)
Three months ended June 30, 2005 (From April 1, 2005 to June 30, 2005) | Three months ended June 30, 2004 (From April 1, 2004 to June 30, 2004) | (Reference) Year ended March 31, 2005 (From April 1, 2004 to March 31, 2005) | ||||||||||||||||
| Premiums | Increase/ decrease | Composition | Premiums | Increase/ decrease | Composition | Premiums | Increase/ decrease | Composition | ||||||||||
Fire | 48,352 | -12.2 | 10.3 | 55,058 | 13.7 | 11.6 | 245,583 | -2.9 | 13.0 | |||||||||
Marine | 14,617 | 3.2 | 3.1 | 14,163 | 9.2 | 3.0 | 65,021 | 7.0 | 3.5 | |||||||||
Personal accident | 44,062 | 1.3 | 9.4 | 43,506 | 2.4 | 9.1 | 149,614 | -1.0 | 7.9 | |||||||||
Automobile | 228,044 | -0.3 | 48.8 | 228,696 | -1.2 | 48.0 | 854,047 | -2.0 | 45.3 | |||||||||
CALI | 76,126 | -3.4 | 16.3 | 78,790 | 1.1 | 16.5 | 328,846 | -1.4 | 17.5 | |||||||||
Others | 56,203 | -0.4 | 12.0 | 56,412 | 4.1 | 11.8 | 240,219 | 2.6 | 12.8 | |||||||||
Total | 467,407 | -1.9 | 100.0 | 476,627 | 1.9 | 100.0 | 1,883,332 | -1.1 | 100.0 | |||||||||
* | 434,696 | -1.8 | 442,714 | 1.9 | 1,730,090 | -1.1 | ||||||||||||
| * | Excluding the effect of the abolition of government reinsurance for compulsory automobile liability insurance (CALI). |
Net claims paid
(Yen in millions, %)
Three months ended June 30, 2005 (From April 1, 2005 to June 30, 2005) | Three months ended June 30, 2004 (From April 1, 2004 to June 30, 2004) | (Reference) Year ended March 31, 2005 (From April 1, 2004 to March 31, 2005) | ||||||||||||||||
| Premiums | Increase/ decrease | Composition | Premiums | Increase/ decrease | Composition | Premiums | Increase/ decrease | Composition | ||||||||||
Fire | 31,955 | 73.6 | 12.0 | 18,409 | -4.7 | 7.8 | 181,422 | 131.0 | 16.2 | |||||||||
Marine | 7,481 | 32.8 | 2.8 | 5,632 | -41.4 | 2.4 | 34,069 | -6.6 | 3.0 | |||||||||
Personal accident | 15,887 | -6.9 | 5.9 | 17,061 | -6.1 | 7.2 | 60,287 | -7.6 | 5.4 | |||||||||
Automobile | 127,942 | 5.0 | 47.9 | 121,793 | -0.2 | 51.6 | 521,524 | 3.9 | 46.4 | |||||||||
CALI | 53,887 | 26.7 | 20.2 | 42,520 | 47.2 | 18.0 | 192,041 | 39.8 | 17.1 | |||||||||
Others | 29,883 | -3.0 | 11.2 | 30,802 | 9.5 | 13.0 | 133,502 | 7.4 | 11.9 | |||||||||
Total | 267,038 | 13.0 | 100.0 | 236,218 | 4.4 | 100.0 | 1,122,847 | 19.0 | 100.0 | |||||||||
* | 238,720 | 9.0 | 219,101 | -1.5 | 1,033,812 | 13.8 | ||||||||||||
| * | Excluding the effect of the abolition of government reinsurance for compulsory automobile liability insurance (CALI). |
The figures for the three months ended June 30, 2004 are the total amount and related indices of Tokio Marine and Nichido Fire before the merger. The figures for the year ended March 31, 2005 are the total amount and related indices of Tokio Marine & Nichido and Nichido Fire before the merger.
<Reference>
Tokio Marine & Nichido Life
Policies in force
(Yen in millions except number of policies, %)
As of/for the three months ended June 30, 2005 | As of/for the three months ended June 30, 2004 | (Reference) As of/for the year ended March 31, 2005 (From April 1, 2004 to March 31, 2005) | ||||||
| Increase/decrease | ||||||||
Numbers of policies | ||||||||
Individual insurance | ||||||||
First sector | 1,010,522 | 8.3 | 933,467 | 992,863 | ||||
Third sector | 625,548 | 26.3 | 495,478 | 599,512 | ||||
Total | 1,636,070 | 14.5 | 1,428,945 | 1,592,375 | ||||
Individual annuities | 225,569 | 40.3 | 160,739 | 214,957 | ||||
Total | 1,861,639 | 17.1 | 1,589,684 | 1,807,332 | ||||
Policies in force | ||||||||
Individual insurance | 10,864,721 | 10.4 | 9,841,616 | 10,658,012 | ||||
Individual annuities | 896,039 | 40.0 | 640,002 | 850,503 | ||||
Group insurance | 3,340,503 | 3.1 | 3,241,526 | 3,335,287 | ||||
Group annuities | 11,077 | -18.7 | 13,624 | 11,236 | ||||
New policies
(Yen in millions except number of policies, %)
| As of/for the three months ended June 30, 2005 | As of/for the three months ended June 30, 2004 | (Reference) As of/for the year (From April 1, 2004 to March 31, 2005) | ||||||
| Increase/decrease | ||||||||
Numbers of policies | ||||||||
Individual insurance | ||||||||
First sector | 33,108 | 14.5 | 28,908 | 134,007 | ||||
Third sector | 37,072 | 18.3 | 31,329 | 163,310 | ||||
Total | 70,180 | 16.5 | 60,237 | 297,317 | ||||
Individual annuities | 12,176 | 24.9 | 9,752 | 68,153 | ||||
Total | 82,356 | 17.7 | 69,989 | 365,470 | ||||
Policies in force | ||||||||
Individual insurance | 417,992 | 10.4 | 378,635 | 1,774,944 | ||||
Individual annuities | 51,925 | 28.4 | 40,450 | 266,903 | ||||
Group insurance | 29,513 | 348.1 | 6,587 | 37,343 | ||||
Group annuities | — | — | — | — | ||||
Annualized premiums
Policies in force
(Yen in millions except number of policies, %)
| As of/for the three months ended June 30, 2005 | As of/for the three months ended June 30, 2004 | (Reference) As of/for the year (From April 1, 2004 to March 31, 2005) | ||||||
| Increase/decrease | ||||||||
Individual insurance | 199,582 | 7.5 | 185,592 | 196,963 | ||||
Medical coverage and accelerated death benefits | 43,139 | 14.9 | 37,535 | 41,993 | ||||
Medical and cancer | 28,585 | 30.7 | 21,879 | 27,152 | ||||
Individual annuities | 69,863 | 57.5 | 44,353 | 65,257 | ||||
New policies
(Yen in millions except number of policies, %)
As of/for the three months ended June 30, 2005 | As of/for the three months ended June 30, 2004 | (Reference) As of/for the year ended March 31, 2005 (From April 1, 2004 to March 31, 2005) | ||||||||||||||||
| New policies and net increase by conversion | New policies and net increase by conversion | New policies and net increase by conversion | ||||||||||||||||
| New policies | Net increase by conversion | New policies | Net increase by conversion | New policies | Net increase by conversion | |||||||||||||
Individual insurance | 6,427 | 6,427 | — | 5,665 | 5,665 | — | 28,854 | 28,854 | — | |||||||||
Medical coverage and accelerated death benefits | 1,992 | 1,992 | — | 1,595 | 1,595 | — | 8,391 | 8,391 | — | |||||||||
Medical and cancer | 1,936 | 1,936 | — | 1,493 | 1,493 | — | 8,034 | 8,034 | — | |||||||||
Individual annuities | 4,975 | 4,975 | — | 4,038 | 4,038 | — | 25,885 | 25,885 | — | |||||||||
Premiums written and claims paid
(Yen in millions, %)
| As of/for the three months ended June 30, 2005 | As of/for the three months ended June 30, 2004 | (Reference) As of/for the year (From April 1, 2004 to March 31, 2005) | ||||||
| Increase/decrease | ||||||||
Premiums written | 99,236 | 9.0 | 91,061 | 441,067 | ||||
Claims paid | 21,470 | 16.2 | 18,481 | 84,035 | ||||
| (Note 1) | Annualized premiums are the premiums divided by the duration of insurance policies to show the amount of premiums per year. | |
| (Note 2) | Since third sector products sold by Tokio Marine & Nichido Life do not have death coverage, they are not included in policies in force. | |
| (Note 3) | “Medical coverage and accelerated death benefits” include coverage for medical expense (hospitalization and operation), accelerated death benefits (specific diseases and nursing care) and exemption of obligation to pay insurance premium (excluding those caused by disability but including those caused by specific diseases and nursing care). | |
| (Note 4) | Tokio Marine & Nichido Life do not have conversion system for individual insurance and individual annuities. | |
<Reference>
Tokio Marine & Nichido Financial Life
Policies in force
(Yen in millions except number of policies, %)
| As of/for the three months ended June 30, 2005 | As of/for the three months ended June 30, 2004 | (Reference) As of/for the year ended March 31, 2005 (From April 1, 2004 to March 31, 2005) | ||||||
| Increase/decrease | ||||||||
Numbers of policies | ||||||||
Individual insurance | ||||||||
First sector | 45,812 | 15.2 | 39,781 | 46,360 | ||||
Third sector | — | — | — | — | ||||
Total | 45,812 | 15.2 | 39,781 | 46,360 | ||||
Individual annuities | 28,372 | 30.9 | 21,680 | 24,460 | ||||
Total | 74,184 | 20.7 | 61,461 | 70,820 | ||||
Policies in force | ||||||||
Individual insurance | 369,440 | 11.6 | 331,103 | 373,560 | ||||
Individual annuities | 209,369 | 40.3 | 149,202 | 173,728 | ||||
Group insurance | — | — | — | — | ||||
Group annuities | — | — | — | — | ||||
New policies
(Yen in millions except number of policies, %)
| As of/for the three months ended June 30, 2005 | As of/for the three months ended June 30, 2004 | (Reference) As of/for the year (From April 1, 2004 to March 31, 2005) | ||||||
| Increase/decrease | ||||||||
Numbers of policies | ||||||||
Individual insurance | ||||||||
First sector | 55 | -97.5 | 2,236 | 10,553 | ||||
Third sector | — | — | — | — | ||||
Total | 55 | -97.5 | 2,236 | 10,553 | ||||
Individual annuities | 4,114 | 420.8 | 790 | 4,212 | ||||
Total | 4,169 | 37.8 | 3,026 | 14,765 | ||||
Policies in force | ||||||||
Individual insurance | 553 | -96.6 | 16,220 | 75,037 | ||||
Individual annuities | 32,809 | 617.8 | 4,571 | 31,532 | ||||
Group insurance | — | — | — | — | ||||
Group annuities | — | — | — | — | ||||
Annualized premiums
Policies in force
(Yen in millions except number of policies, %)
| As of/for the three months ended June 30, 2005 | As of/for the three months ended June 30, 2004 | (Reference) As of/for the year ended March 31, 2005 (From April 1, 2004 to March 31, 2005) | ||||||
| Increase/decrease | ||||||||
Individual insurance | 5,239 | 7.6 | 4,867 | 5,325 | ||||
Individual annuities | 17,050 | 48.1 | 11,514 | 13,811 | ||||
New policies
(Yen in millions except number of policies, %)
As of/for the three months ended June 30, 2005 | As of/for the three months ended June 30, 2004 | (Reference) As of/for the year ended March 31, 2005 (From April 1, 2004 to March 31, 2005) | ||||||||||||||||
| New policies and net increase by conversion | New policies and net increase by conversion | New policies and net increase by conversion | ||||||||||||||||
| New policies | Net increase by conversion | New policies | Net increase by conversion | New policies | Net increase by conversion | |||||||||||||
Individual insurance | 18 | 18 | — | 257 | 257 | — | 1,034 | 1,034 | — | |||||||||
Individual annuities | 3,092 | 3,092 | — | 420 | 420 | — | 2,617 | 2,617 | — | |||||||||
| (Note) | Annualized premiums are the premiums divided by the duration of insurance policies to show the amount of premiums per year. |
Premiums written and claims paid
(Yen in millions, %)
| As of/for the three months ended June 30, 2005 | As of/for the three months ended June 30, 2004 | (Reference) As of/for the year ended March 31, 2005 (From April 1, 2004 to March 31, 2005) | ||||||
| Increase/decrease | ||||||||
Premiums written | 39,228 | 356.6 | 8,592 | 50,375 | ||||
Claims paid | 3,933 | 50.8 | 2,608 | 10,646 | ||||
