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 February 10, 2006
Commission File Number: 0-31376
MILLEA HOLDINGS, INC.
(Translation of Registrant’s name into English)
Tokyo Kaijo Nichido Building Shinkan,
2-1, Marunouchi 1-chome,
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 nine months ended December 31, 2005, dated February 10, 2006. |
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.) | ||||
| February 10, 2006 | By: | /S/ TAKASHI ITO | ||
| General Manager, | ||||
| Corporate Legal Department | ||||
Item 1
(English translation)
Summary of consolidated business results of Millea Holdings, Inc. under Japanese GAAP for the nine months ended December 31, 2005
February 10, 2006
| Company Name: Millea Holdings, Inc. | ||
| Securities Code Number: 8766 | ||
| Stock Exchange Listings: Tokyo and Osaka | ||
| Representative: Kunio Ishihara, President, Millea Holdings, Inc. | ||
| Contact: | Kenji Tanaka, Corporate Planning Dept., Millea Holdings, Inc. Phone: 03-5223-3212 | |
| 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 December 31, 2005, is different from the recognition policy employed for annual and semi-annual reports.
2. Summary of business results for the nine months ended December 31, 2005
(From April 1, 2005 through December 31, 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 nine months ended December 31, 2005 | 1,471,186 | 1.9 | ||
For the nine months ended December 31, 2004 | 1,444,103 | 0.0 | ||
(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 nine months ended December 31, 2004 is 2.4% excluding the effect of abolition of the government reinsurance for Compulsory Automobile Liability Insurance (CALI).
(2) Matters that had a significant effect on financial conditions and results of operations for the nine months ended December 31, 2005
Due to a rise in equity prices, the difference between market value and acquisition cost (unrealized gains) of securities as of December 31, 2005 amounted to 2,990,628 million yen, an increase of 1,200,903 million yen from March 31, 2005.
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, %) | ||||||||||||||||||
| Nine months ended December 31, 2005 (From April 1, 2005 to December 31, 2005) | Nine months ended December 31, 2004 (From April 1, 2004 to December 31, 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 | 265,562 | 7.0 | 15.9 | 248,276 | -2.9 | 15.1 | 348,974 | -0.7 | 16.0 | |||||||||
Marine | 62,398 | 7.7 | 3.7 | 57,942 | 6.2 | 3.5 | 78,520 | 5.0 | 3.6 | |||||||||
Personal accident | 266,529 | 3.0 | 15.9 | 258,724 | -5.7 | 15.7 | 326,077 | -6.6 | 15.0 | |||||||||
Automobile | 670,703 | 1.8 | 40.0 | 659,136 | -2.4 | 40.0 | 869,048 | -2.2 | 39.9 | |||||||||
Compulsory automobile liability (CALI) | 229,528 | -4.2 | 13.7 | 239,578 | -2.4 | 14.5 | 302,955 | -2.6 | 13.9 | |||||||||
Others | 180,172 | -1.8 | 10.8 | 183,552 | 4.1 | 11.1 | 252,565 | 1.8 | 11.6 | |||||||||
Total | 1,674,895 | 1.7 | 100.0 | 1,647,211 | -2.0 | 100.0 | 2,178,142 | -2.0 | 100.0 | |||||||||
Fund for deposit-type insurance | 185,418 | 5.5 | 11.1 | 175,743 | -11.5 | 10.7 | 226,848 | -10.8 | 10.4 | |||||||||
Net premiums written | ||||||||||||||||||
| (Yen in millions, %) | ||||||||||||||||||
| Nine months ended December 31, 2005 (From April 1, 2005 to December 31, 2005) | Nine months ended December 31, 2004 (From April 1, 2004 to December 31, 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 | 207,397 | 9.7 | 14.1 | 189,015 | 0.4 | 13.1 | 263,184 | -2.4 | 13.7 | |||||||||
Marine | 58,117 | 8.1 | 4.0 | 53,775 | 9.6 | 3.7 | 73,139 | 7.1 | 3.8 | |||||||||
Personal accident | 117,317 | -0.5 | 8.0 | 117,854 | -0.9 | 8.2 | 150,983 | -0.7 | 7.8 | |||||||||
Automobile | 667,396 | 2.1 | 45.4 | 653,734 | -2.0 | 45.3 | 861,082 | -2.0 | 44.7 | |||||||||
CALI | 240,744 | -4.0 | 16.4 | 250,756 | -0.7 | 17.4 | 328,846 | -1.4 | 17.1 | |||||||||
Others | 180,214 | 0.7 | 12.2 | 178,965 | 6.3 | 12.4 | 247,844 | 2.6 | 12.9 | |||||||||
Total | 1,471,186 | 1.9 | 100.0 | 1,444,103 | 0.0 | 100.0 | 1,925,081 | -1.0 | 100.0 | |||||||||
* | 1,360,674 | 2.4 | 1,328,543 | 0.0 | 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, %) | ||||||||||||||||||
| Nine months ended December 31, 2005 (From April 1, 2005 to December 31, 2005) | Nine months ended December 31, 2004 (From April 1, 2004 to December 31, 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 | 91,496 | -36.4 | 11.0 | 143,843 | 132.6 | 17.1 | 188,319 | 128.9 | 16.5 | |||||||||
Marine | 28,644 | 22.2 | 3.5 | 23,441 | -23.8 | 2.8 | 36,744 | -6.8 | 3.2 | |||||||||
Personal accident | 49,663 | 6.3 | 6.0 | 46,709 | -9.1 | 5.6 | 61,132 | -7.2 | 5.3 | |||||||||
Automobile | 393,251 | -0.5 | 47.4 | 395,211 | 5.6 | 47.1 | 526,367 | 4.1 | 46.0 | |||||||||
CALI | 168,126 | 29.0 | 20.3 | 130,283 | 31.6 | 15.5 | 192,041 | 39.8 | 16.8 | |||||||||
Others | 98,901 | -0.8 | 11.9 | 99,722 | 8.5 | 11.9 | 139,410 | 10.4 | 12.2 | |||||||||
Total | 830,084 | -1.1 | 100.0 | 839,212 | 18.3 | 100.0 | 1,144,014 | 19.5 | 100.0 | |||||||||
* | 739,599 | -5.3 | 781,211 | 13.6 | 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 December 31, 2005 | As of December 31, 2004 | (Reference) As of March 31, 2005 | ||||||||||||||||
| Acquisition cost | Market value | Difference | Acquisition cost | Market value | Difference | Acquisition cost | Market value | Difference | ||||||||||
Bonds | 2,881,949 | 2,872,289 | -9,660 | 2,661,866 | 2,653,513 | -8,352 | 3,186,243 | 3,201,270 | 15,027 | |||||||||
Stocks | 1,163,078 | 4,087,217 | 2,924,138 | 1,236,389 | 2,931,937 | 1,965,548 | 1,196,513 | 2,953,898 | 1,757,385 | |||||||||
Foreign securities | 594,899 | 642,000 | 47,101 | 537,501 | 534,615 | -2,886 | 553,691 | 557,788 | 4,096 | |||||||||
Others | 273,122 | 302,170 | 29,048 | 213,997 | 225,454 | 11,457 | 211,627 | 224,843 | 13,215 | |||||||||
Total | 4,913,049 | 7,903,678 | 2,990,628 | 4,649,754 | 6,345,521 | 1,695,767 | 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 December 31, 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 December 31, 2005 | As of December 31, 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 | 253,888 | -3,753 | -3,753 | 190,614 | 1,387 | 1,387 | 184,998 | -3,423 | -3,423 | |||||||||
Long | 65,459 | 914 | 914 | 38,038 | 528 | 528 | 15,118 | 141 | 141 | |||||||||
Currency options | ||||||||||||||||||
Short | 34,310 | 5,489 | 862 | |||||||||||||||
| 588 | 728 | -139 | 42 | 25 | 16 | 32 | 45 | -12 | ||||||||||
Long | 54,654 | 5,095 | 307 | |||||||||||||||
| 386 | 643 | 257 | 36 | 25 | -11 | 20 | 1 | -19 | ||||||||||
Currency swaps | 1,175,062 | -12,385 | -12,385 | 800,711 | -1,259 | -1,259 | 906,530 | -4,252 | -4,252 | |||||||||
Interest rate-related instruments | ||||||||||||||||||
Interest forward | ||||||||||||||||||
Short | 19,935 | 13 | 13 | 15,735 | — | — | 4,020 | -0 | -0 | |||||||||
Long | 126,963 | -29 | -29 | 50,227 | — | — | — | — | — | |||||||||
Interest forward options | ||||||||||||||||||
Long | — | 54,980 | — | |||||||||||||||
| — | — | — | 10 | 9 | -0 | — | — | — | ||||||||||
Interest options | ||||||||||||||||||
Short | 744,433 | 79,688 | 81,314 | |||||||||||||||
| 2,496 | 2,074 | 421 | 417 | 427 | -10 | 240 | 240 | -0 | ||||||||||
Long | 88,028 | 47,243 | 43,537 | |||||||||||||||
| 579 | 725 | 146 | 484 | 346 | -137 | 414 | 228 | -185 | ||||||||||
Interest rate swap | 9,814,298 | 30,490 | 30,490 | 8,690,835 | 61,872 | 61,872 | 8,510,118 | 65,296 | 65,296 | |||||||||
Equity-related instruments | ||||||||||||||||||
Equity index futures | ||||||||||||||||||
Short | 30,107 | -329 | -329 | 26,493 | -912 | -912 | 13,348 | 140 | 140 | |||||||||
Long | 19,984 | 394 | 394 | 8,953 | 123 | 123 | 10,617 | -178 | -178 | |||||||||
Equity index options | ||||||||||||||||||
Short | 51,776 | 52,882 | 27,486 | |||||||||||||||
| 695 | 151 | 543 | 651 | 647 | 4 | 508 | -398 | 906 | ||||||||||
Long | 44,323 | 69,625 | 38,680 | |||||||||||||||
| 457 | -1,568 | -2,025 | 890 | 1,128 | 238 | 884 | -68 | -953 | ||||||||||
Equity options | ||||||||||||||||||
Short | — | 2,116 | 1,550 | |||||||||||||||
| — | — | — | 100 | 248 | -147 | 67 | 73 | -5 | ||||||||||
Long | — | 2,288 | 1,721 | |||||||||||||||
| — | — | — | 78 | 282 | 203 | 63 | 107 | 44 | ||||||||||
Bond-related instruments | ||||||||||||||||||
Bond futures | ||||||||||||||||||
Short | 62,584 | -159 | -159 | 52,049 | -68 | -68 | 116,012 | -906 | -906 | |||||||||
Long | 36,600 | 131 | 131 | 24,328 | 39 | 39 | 25,576 | 286 | 286 | |||||||||
Bond futures options | ||||||||||||||||||
Short | 42,443 | 39,946 | 4,020 | |||||||||||||||
| 56 | 48 | 7 | 74 | 62 | 11 | 4 | 1 | 3 | ||||||||||
Long | 17,469 | 15,890 | 4,080 | |||||||||||||||
| 49 | 32 | -17 | 39 | 32 | -7 | 12 | 3 | -8 | ||||||||||
Over-the-counter bond options | ||||||||||||||||||
Short | 75,358 | 202,252 | 18,373 | |||||||||||||||
| 134 | 211 | -76 | 118 | 18 | 100 | — | 25 | -25 | ||||||||||
Long | 75,846 | 98,865 | — | |||||||||||||||
| 162 | 232 | 70 | 499 | 481 | -17 | — | — | — | ||||||||||
Weather-related instruments | ||||||||||||||||||
Weather derivatives | ||||||||||||||||||
Short | 3,258 | 1,932 | 1,969 | |||||||||||||||
| 161 | -327 | 489 | 100 | -135 | 235 | 98 | -286 | 385 | ||||||||||
Credit-related instruments | ||||||||||||||||||
Credit derivatives | ||||||||||||||||||
Short | 1,147,591 | 4,027 | 4,027 | 1,960,128 | 2,654 | 2,654 | 1,902,280 | 2,862 | 2,862 | |||||||||
Long | 378,327 | -3,366 | -3,366 | 395,394 | -6,033 | -6,033 | 401,982 | -5,253 | -5,253 | |||||||||
Commodity | ||||||||||||||||||
Commodity swap | 81,486 | 1,380 | 1,380 | 74,693 | 486 | 486 | 68,966 | 451 | 451 | |||||||||
Others | ||||||||||||||||||
Inflation indexed bonds | — | 13,400 | 18,400 | |||||||||||||||
| — | — | — | 1,109 | 1,046 | -63 | 1,452 | 1,362 | -90 | ||||||||||
Total | 14,444,194 | 20,280 | 17,004 | 13,019,902 | 63,463 | 59,230 | 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, %) | ||||||||||||||||||
| Nine months ended December 31, 2005 (From April 1, 2005 to December 31, 2005) | Nine months ended December 31, 2004 (From April 1, 2004 to December 31, 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 | 255,955 | 5.5 | 15.7 | 242,631 | -3.4 | 15.0 | 341,502 | -1.0 | 15.9 | |||||||||
Marine | 53,478 | 6.4 | 3.3 | 50,270 | 3.0 | 3.1 | 68,386 | 2.4 | 3.2 | |||||||||
Personal accident | 265,595 | 2.9 | 16.3 | 258,172 | -5.7 | 15.9 | 325,404 | -6.6 | 15.2 | |||||||||
Automobile | 653,763 | -0.1 | 40.1 | 654,699 | -2.5 | 40.4 | 863,193 | -2.4 | 40.3 | |||||||||
Compulsory automobile liability (CALI) | 229,528 | -4.2 | 14.1 | 239,578 | -2.4 | 14.8 | 302,955 | -2.6 | 14.1 | |||||||||
Others | 170,373 | -2.4 | 10.5 | 174,495 | 2.6 | 10.8 | 241,244 | 0.9 | 11.3 | |||||||||
Total | 1,628,696 | 0.5 | 100.0 | 1,619,848 | -2.5 | 100.0 | 2,142,686 | -2.4 | 100.0 | |||||||||
Fund for deposit-type insurance | 185,418 | 5.5 | 11.4 | 175,743 | -11.5 | 10.8 | 226,848 | -10.8 | 10.6 | |||||||||
Net premiums written | ||||||||||||||||||
| (Yen in millions, %) | ||||||||||||||||||
Nine months ended December 31, 2005 (From April 1, 2005 to December 31, 2005) | Nine months ended December 31, 2004 (From April 1, 2004 to December 31, 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 | 181,240 | 3.6 | 12.9 | 174,933 | -1.7 | 12.4 | 245,583 | -2.9 | 13.0 | |||||||||
Marine | 50,157 | 5.8 | 3.6 | 47,414 | 9.8 | 3.4 | 65,021 | 7.0 | 3.5 | |||||||||
Personal accident | 115,929 | -0.8 | 8.2 | 116,853 | -0.5 | 8.3 | 149,614 | -1.0 | 7.9 | |||||||||
Automobile | 649,685 | 0.2 | 46.1 | 648,355 | -2.1 | 45.9 | 854,047 | -2.0 | 45.3 | |||||||||
CALI | 240,744 | -4.0 | 17.1 | 250,756 | -0.7 | 17.8 | 328,846 | -1.4 | 17.5 | |||||||||
Others | 172,076 | -0.5 | 12.2 | 172,896 | 5.0 | 12.3 | 240,219 | 2.6 | 12.8 | |||||||||
Total | 1,409,833 | -0.1 | 100.0 | 1,411,210 | -0.5 | 100.0 | 1,883,332 | -1.1 | 100.0 | |||||||||
* | 1,299,321 | 0.3 | 1,295,650 | -0.5 | 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, %) | ||||||||||||||||||
| Nine months ended December 31, 2005 (From April 1, 2005 to December 31, 2005) | Nine months ended December 31, 2004 (From April 1, 2004 to December 31, 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 | 83,331 | -41.3 | 10.4 | 142,076 | 138.4 | 17.2 | 181,422 | 131.0 | 16.2 | |||||||||
Marine | 26,516 | 24.3 | 3.3 | 21,327 | -24.5 | 2.6 | 34,069 | -6.6 | 3.0 | |||||||||
Personal accident | 48,903 | 6.0 | 6.1 | 46,143 | -9.0 | 5.6 | 60,287 | -7.6 | 5.4 | |||||||||
Automobile | 382,164 | -2.5 | 47.5 | 391,764 | 5.5 | 47.4 | 521,524 | 3.9 | 46.4 | |||||||||
CALI | 168,126 | 29.0 | 20.9 | 130,283 | 31.6 | 15.8 | 192,041 | 39.8 | 17.1 | |||||||||
Others | 95,856 | 1.0 | 11.9 | 94,905 | 4.8 | 11.5 | 133,502 | 7.4 | 11.9 | |||||||||
Total | 804,898 | -2.6 | 100.0 | 826,501 | 18.2 | 100.0 | 1,122,847 | 19.0 | 100.0 | |||||||||
* | 714,413 | -7.0 | 768,500 | 13.4 | 1,033,812 | 13.8 | ||||||||||||
| * | Excluding the effect of the abolition of government reinsurance for compulsory automobile liability insurance (CALI). |
The figures as of/for the nine months ended December 31, 2004 and the figures as of/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 December 31, 2005 | As of December 31, 2004 | (Reference) As of March 31, 2005 | ||||||
Numbers of policies | ||||||||
| Increase/ decrease | ||||||||
Individual insurance | 1,740,250 | 15.3 | 1,508,998 | 1,592,375 | ||||
Medical and cancer | 689,024 | 26.7 | 543,872 | 599,512 | ||||
Individual annuities | 234,733 | 19.9 | 195,751 | 214,957 | ||||
Total | 1,974,983 | 15.9 | 1,704,749 | 1,807,332 | ||||
Policy amount in force | As of December 31, 2005 | As of December 31, 2004 | (Reference) As of March 31, 2005 | |||||
| Increase/ decrease | ||||||||
Individual insurance | 11,375,731 | 10.4 | 10,300,270 | 10,658,012 | ||||
Individual annuities | 931,877 | 20.0 | 776,664 | 850,503 | ||||
Group insurance | 3,328,999 | 0.6 | 3,308,253 | 3,335,287 | ||||
Group annuities | 11,020 | -16.4 | 13,176 | 11,236 | ||||
Annualized premiums | As of December 31, 2005 | As of December 31, 2004 | (Reference) As of March 31, 2005 | |||||
| Increase/ decrease | ||||||||
Individual insurance | 209,058 | 9.5 | 190,979 | 196,963 | ||||
Medical coverage and accelerated death benefits | 53,086 | 21.8 | 43,593 | 46,172 | ||||
Medical and cancer | 34,885 | 43.7 | 24,284 | 27,152 | ||||
Individual annuities | 73,029 | 27.2 | 57,422 | 65,257 | ||||
Total | 282,088 | 13.6 | 248,401 | 262,220 | ||||
New policies | ||||||||
| (Yen in millions except number of policies, %) | ||||||||
Numbers of policies | For the nine months ended December 31, 2005 | For the nine months ended December 31, 2004 | (Reference) (From April 1, 2004 to March 31, 2005) | |||||
| Increase/ decrease | ||||||||
Individual insurance | 224,905 | 18.6 | 189,559 | 297,317 | ||||
Medical and cancer | 120,616 | 22.8 | 98,247 | 163,310 | ||||
Individual annuities | 25,459 | -46.4 | 47,476 | 68,153 | ||||
Total | 250,364 | 5.6 | 237,035 | 365,470 | ||||
Policy amount in force | For the nine months ended December 31, 2005 | For the nine months ended December 31, 2004 | (Reference) (From April 1, 2004 to March 31, 2005) | |||||
| Increase/ decrease | ||||||||
Individual insurance | 1,328,066 | 8.8 | 1,221,019 | 1,774,944 | ||||
Individual annuities | 105,880 | -43.5 | 187,436 | 266,903 | ||||
Group insurance | 56,991 | 101.3 | 28,304 | 37,343 | ||||
Group annuities | — | — | — | — | ||||
| (Yen in millions except number of policies, %) | ||||||||
Annualized premiums | For the nine months ended December 31, 2005 | For the nine months ended December 31, 2004 | (Reference) (From April 1, 2004 to March 31, 2005) | |||||
| Increase/ decrease | ||||||||
Individual insurance | 23,322 | 23.0 | 18,968 | 28,854 | ||||
Medical coverage and accelerated death benefits | 9,485 | 84.5 | 5,141 | 8,572 | ||||
Medical and cancer | 9,194 | 94.3 | 4,732 | 8,034 | ||||
Individual annuities | 9,507 | -46.4 | 17,725 | 25,885 | ||||
Total | 32,830 | -10.5 | 36,693 | 54,739 | ||||
Premiums written and claims paid
| ||||||||
| (Yen in millions, %) | ||||||||
| For the nine months ended December 31, 2005 | For the nine months ended December 31, 2004 | (Reference) (From April 1, 2004 to March 31, 2005) | ||||||
| Increase/ decrease | ||||||||
Premiums written | 275,267 | -10.8 | 308,688 | 441,067 | ||||
Claims paid | 72,301 | 22.5 | 59,015 | 84,035 | ||||
| (Note 1) | Since medical and cancer insurance products sold by Tokio Marine & Nichido Life do not have death coverage, they are not included in policy amount in force. | |
| (Note 2) | Annualized premiums are the premiums divided by the duration of insurance policies to show the amount of premiums per year. | |
| (Note 3) | “Medical and cancer” represents a total of medical and cancer insurance which was formerly presented as “third sector”. Annualized premiums include special clauses attached to those insurance products. | |
| (Note 4) | “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). These include coverage by special clauses attached to insurance products other than medical and cancer insurance. Starting from the nine months ended December 31, 2005, annualized premiums for “Medical coverage and accelerated death benefits” included in the death coverage of certain insurance products are categorized as “Medical coverage and accelerated death benefits”. The same categorization is retroactively applied to the figures for the nine months ended December 31, 2005 and for the year ended March 31, 2005. | |
| <Reference> |
Tokio Marine & Nichido Financial Life
Policies in force | ||||||||
| (Yen in millions except number of policies, %) | ||||||||
Numbers of policies | As of December 31, 2005 | As of December 31, 2004 | (Reference) As of March 31, 2005 | |||||
| Increase/ decrease | ||||||||
Individual insurance | 44,935 | 4.5 | 42,996 | 46,360 | ||||
Individual annuities | 60,307 | 167.0 | 22,583 | 24,460 | ||||
Total | 105,242 | 60.5 | 65,579 | 70,820 | ||||
Policy amount in force | As of December 31, 2005 | As of December 31, 2004 | (Reference) As of March 31, 2005 | |||||
| Increase/ decrease | ||||||||
Individual insurance | 375,112 | 6.8 | 351,230 | 373,560 | ||||
Individual annuities | 494,867 | 217.7 | 155,777 | 173,728 | ||||
Group insurance | — | — | — | |||||
Group annuities | — | — | — | |||||
Annualized premiums | As of December 31, 2005 | As of December 31, 2004 | (Reference) As of March 31, 2005 | |||||
| Increase/ decrease | ||||||||
Individual insurance | 5,135 | 1.0 | 5,086 | 5,325 | ||||
Individual annuities | 38,979 | 215.5 | 12,355 | 13,811 | ||||
Total | 44,114 | 152.9 | 17,442 | 19,136 | ||||
New policies | ||||||||
| (Yen in millions except number of policies, %) | ||||||||
Numbers of policies | For the nine months ended December 31, 2005 | For the nine months ended December 31, 2004 | (Reference) (From April 1, 2004 to March 31, 2005) | |||||
| Increase/ decrease | ||||||||
Individual insurance | 195 | -97.0 | 6,609 | 10,553 | ||||
Individual annuities | 36,760 | 1684.5 | 2,060 | 4,212 | ||||
Total | 36,955 | 326.3 | 8,669 | 14,765 | ||||
Policy amount in force | For the nine months ended December 31, 2005 | For the nine months ended December 31, 2004 | (Reference) (From April 1, 2004 to March 31, 2005) | |||||
| Increase/ decrease | ||||||||
Individual insurance | 1,650 | -96.5 | 47,020 | 75,037 | ||||
Individual annuities | 249,248 | 1613.3 | 14,547 | 31,532 | ||||
Group insurance | — | — | — | — | ||||
Group annuities | — | — | — | — | ||||
Annualized premiums | For the nine months ended December 31, 2005 | For the nine months ended December 31, 2004 | (Reference) (From April 1, 2004 to March 31, 2005) | |||||
| Increase/ decrease | ||||||||
Individual insurance | 77 | -88.8 | 692 | 1,034 | ||||
Individual annuities | 24,424 | 1819.1 | 1,272 | 2,617 | ||||
Total | 24,502 | 1146.6 | 1,965 | 3,651 | ||||
| Premiums written and claims paid | ||||||||
(Yen in millions, %) | ||||||||
For the nine months ended December 31, 2005 | For the nine months ended December 31, 2004 | (Reference) (From April 1, 2004 to March 31, 2005) | ||||||
| Increase/ decrease | ||||||||
Premiums written | 271,823 | 909.3 | 26,933 | 50,375 | ||||
Claims paid | 12,788 | 61.4 | 7,922 | 10,646 | ||||
| (Note 1) | Annualized premiums are the premiums divided by the duration of insurance policies to show the amount of premiums per year. |
