August 18, 2008
Financial Results for the Three Months Ended June 30, 2008
The Dai-ichi Mutual Life Insurance Company (the “Company” or the “Parent Company”; President: Katsutoshi
Saito) announces financial results for the three months ended June 30, 2008.
[Contents]
Financial Summary for the three Months Ended June 30, 2008
1.
Business Highlights
………
P.1
2.
Investment of General Account Assets
………
P.3
3.
Unaudited Non-Consolidated Balance Sheets
………
P.7
4.
Unaudited Non-Consolidated Statement of Earnings
………
P.10
5.
Breakdown of Net Surplus from Operations （Fundamental Profit）
………
P.11
6.
Solvency Margin Ratio
………
P.12
7.
Status of Separate Accounts
………
P.13
8.
Consolidated Financial Summary
………
P.14
For further information please contact:
Corporate Planning Dept. No.1,
The Dai-ichi Mutual Life Insurance Company
TEL 81-50-3780-2811･3119
1. Business Highlights
(1) Sum Insured, Policies in Force and New Policies
Policies in Force
Individual insurance
11,175
1,651,930
11,221
1,674,368
Individual annuities
1,202
70,377
1,201
70,257
Individual insurance and annuities
12,377
1,722,308
12,423
1,744,625
Group insurance
- 548,346
- 544,616
Group annuities
- 65,160
- 64,368
Note: 1. Policy amount in force of individual annuities is equal to (a) the funds to be held at the time annuity payments are to
commence for an annuity for which payment has not yet commenced, and (b) the amount of policy reserve for an
annuity for which payments have commenced.
2. Policy amount in force of group annuities is equal to the amount of outstanding corresponding policy reserve.
New Policies
Amount
(100 millions of yen)
Net increase by
conversion
Three months ended June 30, 2008
Individual insurance
238
13,799
(139)
Individual annuities
8
596
(23)
Individual insurance andannuities
246
14,395
(163)
Group insurance
- 1,362
Group annuities
- 2
Note: 1. Number of new policies is the sum of new business and policies after conversion.
2. Amount of new policies for individual annuities, both new business and net increase by conversion, is equal to
the funds to be held at the time annuity payments are to commence.
3. Amount of new policies for group annuities is equal to the initial premium payment.
(Reference) Surrender and lapse in individual insurance and annuities
(100 millions of yen except percentages)
Three months
ended
June 30, 2008
25,342
1.45
Note: 1. The amount of lapses is not offset by the amount of lapses which are reinstated.
2. The table above excludes cases where the sum insured is decreased or riders are surrendered for in-force contracts.
Amount of surrender and lapse
Surrender and lapse rate (%)
As of June 30, 2008
As of March 31, 2008
Amount
(100 millions of
yen)
13,938
New Business
620
14,559
1,362
2
Number of
Policies
(thousands)
Amount
(100 millions of
yen)
Number of
Policies
(thousands)
Number of
Policies
(thousands)
−1−
The Dai-ichi Mutual Life Insurance Company
(2) Annualized Net Premium
Policies in Force
(100 millions of yen)
Individual insurance
Individual annuities
Medical and survival benefits
New Policies
(100 millions of yen)
Individual insurance
Individual annuities
Medical and survival benefits
Note: 1. Annualized net premium is calculated by using multipliers for various premium payment terms to
the premium per payment. In single premium contracts, the amount is calculated by dividing
the premium by the duration of the policy.
2. Annualized net premium for medical and survival benefits includes (a) premium related to medical
benefits such as hospitalization and surgery benefits, (b) premium related to survival benefits
such as specific illness and nursing benefits, and (c) premium related to premium waiver benefits,
in which disability cause is excluded but causes such as specific illness and nursing care are included.
3. New policies include net increase by conversion.
Total
266
As of June 30, 2008
Three months ended
June 30, 2008
20,886
Total
As of March 31, 2008
18,239
2,794
2,772
18,092
90
234
31
21,011
4,885
4,888
−2−
The Dai-ichi Mutual Life Insurance Company
2. Investment of General Account Assets
(1) Asset Composition (General Account)
(millions of yen)
Carrying value
%
Carrying value
%
377,499
1.2
338,541
1.1
-
-
-
-
41,784
0.1
47,273
0.2
234,319
0.8
316,767
1.0
29,723
0.1
46,663
0.2
27,391
0.1
25,223
0.1
23,706,683
77.2
22,919,828
75.5
11,292,561
36.8
12,186,760
40.1
5,066,482
16.5
4,508,764
14.9
7,038,231
22.9
5,925,778
19.5
Foreign bonds
5,632,343
18.4
4,540,667
15.0
Foreign stocks and other securities
1,405,887
4.6
1,385,111
4.6
309,407
1.0
298,525
1.0
4,523,390
14.7
4,647,199
15.3
626,606
2.0
629,534
2.1
3,896,784
12.7
4,017,665
13.2
1,227,493
4.0
1,233,982
4.1
777,527
2.5
780,267
2.6
77,954
0.3
162,392
0.5
453,083
1.5
636,254
2.1
(11,024)
(0.0)
(12,321)
(0.0)
30,688,299
100.0
30,361,805
100.0
5,830,333
19.0
4,940,802
16.3
Note: 'Real estate' represents total amount of land, buildings and constuction in progress.
Other securities
Real estate for rent
Deferred tax assets
Loans
Policy loans
Ordinary loans
Foreign currency-denominated assets
Deposit paid for securities borrowing transactions
Trading account securities
Others
Total
Reserve for possible loan losses
Money held in trust
Securities
Domestic bonds
Real estate
Domestic stocks
Foreign securities
Securities repurchased under resale agreements
Monetary claims bought
As of March 31, 2008
Cash, deposits, and call loans
As of June 30, 2008
−3−
The Dai-ichi Mutual Life Insurance Company
(2) Fair Value Information on Securities (General Account) (securities with fair value except for trading securities)
(millions of yen)
Book value
Fair value
Gains (losses)
Gains
Losses
Bonds held to maturity
177,302
175,057
(2,245)
808
3,053
Domestic bonds
123,279
120,724
(2,554)
372
2,927
Foreign bonds
54,023
54,332
309
436
126
Policy-reserve-matching bonds
5,158,190
5,225,765
67,575
77,992
10,417
Domestic bonds
5,158,190
5,225,765
67,575
77,992
10,417
Stocks of subsidiaries and affiliates
-
-
-
-
-
Securities available for sale
15,474,328
17,291,513
1,817,184
2,115,488
298,303
Domestic bonds
5,934,559
6,011,091
76,532
94,183
17,651
Domestic stocks
3,067,481
4,834,131
1,766,649
1,832,019
65,369
Foreign securities
6,246,938
6,224,767
(22,171)
182,436
204,607
Foreign bonds
5,602,826
5,578,320
(24,505)
116,137
140,643
Foreign stocks and other securities
644,112
646,447
2,334
66,298
63,963
Other securities
199,348
195,521
(3,826)
6,849
10,675
Monetary claims bought
-
-
-
-
-
Certificates of deposit
26,000
26,000
-
-
-
Others
-
-
-
-
-
Total
20,809,821
22,692,336
1,882,515
2,194,289
311,774
Domestic bonds
11,216,029
11,357,582
141,553
172,549
30,995
Domestic stocks
3,067,481
4,834,131
1,766,649
1,832,019
65,369
Foreign securities
6,300,962
6,279,100
(21,861)
182,872
204,733
Foreign bonds
5,656,849
5,632,653
(24,196)
116,573
140,769
Foreign stocks and other securities
644,112
646,447
2,334
66,298
63,963
Other securities
199,348
195,521
(3,826)
6,849
10,675
Monetary claims bought
-
-
-
-
-
Certificates of deposit
26,000
26,000
-
-
-
Others
-
-
-
-
-
Bonds held to maturity
174,034
176,400
2,365
4,011
1,645
Domestic bonds
123,140
123,084
(56)
1,589
1,645
Foreign bonds
50,894
53,316
2,421
2,421
-
Policy-reserve-matching bonds
4,927,142
5,078,369
151,227
155,763
4,535
Domestic bonds
4,927,142
5,078,369
151,227
155,763
4,535
Stocks of subsidiaries and affiliates
-
-
-
-
-
Securities available for sale
15,323,877
16,821,851
1,497,973
1,854,028
356,054
Domestic bonds
6,910,185
7,136,478
226,292
235,085
8,792
Domestic stocks
2,988,492
4,276,199
1,287,706
1,408,762
121,056
Foreign securities
5,135,282
5,129,440
(5,842)
204,446
210,288
Foreign bonds
4,498,342
4,489,772
(8,570)
133,324
141,894
Foreign stocks and other securities
636,939
639,668
2,728
71,122
68,394
Other securities
204,933
194,749
(10,183)
5,733
15,916
Monetary claims bought
44,983
44,983
-
-
-
Certificates of deposit
40,000
40,000
-
-
-
Others
-
-
-
-
-
Total
20,425,054
22,076,621
1,651,566
2,013,802
362,236
Domestic bonds
11,960,467
12,337,931
377,464
392,438
14,973
Domestic stocks
2,988,492
4,276,199
1,287,706
1,408,762
121,056
Foreign securities
5,186,177
5,182,757
(3,420)
206,868
210,288
Foreign bonds
4,549,237
4,543,089
(6,148)
135,745
141,894
Foreign stocks and other securities
636,939
639,668
2,728
71,122
68,394
Other securities
204,933
194,749
(10,183)
5,733
15,916
Monetary claims bought
44,983
44,983
-
-
-
Certificates of deposit
40,000
40,000
-
-
-
Others
-
-
-
-
-
Note:
1. The table above includes assets, such as certificates of deposit, which are considered appropriate to handle as securities, as defined
in the Financial Instruments and Exchange Law.
2. Money held in trust classified as other than trading securities, in which bank deposits are held, is excluded from the table above.
Book value, equivalent of fair value, of the trust as of June 30, 2008 and as of March 31, 2008 amounted to 1,626 million yen
and 1,543 million yen, respectively.
As of June 30, 2008
As of March 31, 2008
−4−
The Dai-ichi Mutual Life Insurance Company
