Sales Results

In fiscal 2014, the new policy amount (total amount of individual insurance and individual annuities) of the three life insurance companies was ¥7,227.2 billion, up 8.8% from the previous fiscal year. The surrender and lapse amount of the three insurance companies was ¥3,752.4 billion, down 5.4%. As a result, the total policy amount in force of the three insurance companies was ¥62,117.7 billion, up 2.3% from the previous fiscal year-end.

At Taiyo Life, the total new policy amount increased by 5.3% from the previous fiscal year, due to strong OTC sales at banks, despite a year-on-year decrease in the mainstay sales representative channel. The surrender and lapse rate reached the lowest level in the past 10 years, improving by 0.09 percentage points from the previous fiscal year. As a result, the policy amount in force was up 2.6% from the previous fiscal year-end to ¥22,154.5 billion. This was a record level for the fiscal year-end.

Daido Life's new policy amount was up 9.9% year on year, mainly due to an increase in sales of individual term life insurance, Daido Life's core product, as well as favorable sales of T-type product, which was launched last year, and Life Gift α, a single-premium whole life insurance product. The surrender and lapse rate improved by 0.49 percentage points from the previous fiscal year. As a result, the policy amount in force was ¥38,156.7 billion, up 2.4% from the previous fiscal year-end.

T&D Financial Life's new policy amount was up 31.7% from the previous fiscal year, due to strong sales of its core product, Shougai Premium Series, and Minna Ni Yasashii Shushinhoken, which focuses on inheritance needs. The surrender and lapse rate improved by 2.94 points from the previous fiscal year.

In fiscal 2015, the three life insurance companies will reinforce their unique business models, aiming to increase the new policy amount, and to achieve a net increase of the policy amount in force.

Fiscal 2015 Policy Results Forecasts