Focusing on life insurance sales in the household market as our core business, Taiyo Life delivers comprehensive coverage that meets customer needs for death protection as well as medical and nursing care insurance to households through in-house sales representatives.
At Taiyo Life in fiscal 2015, ended March 31, 2016, the new policy amount (total of individual insurance and individual annuities) fell by 24.9% year on year to ¥2,134.1 billion, while annualized premiums of new policies for Third Sector products increased 21.7% year on year to ¥11.5 billion. This was due to a greater focus on medical and nursing care and other Third Sector coverage with a greater management emphasis on EV, as well as the limitation of sales of single premium products through banks in an environment with low interest rates.
Another major indicator contributing to EV growth was an area that Taiyo Life emphasizes in its policy results: 4.6% year-on-year increase, to ¥15.5 billion, in protection-type annualized premiums of new policies.
The surrender and lapse rate improved by 0.21 percentage points from the previous fiscal year to 5.67%. As a result, the policy amount in force was ¥21,983.5 billion, down 0.8% from the previous fiscal year-end.
MCEV amounted to ¥725.7 billion at March 31, 2016, a decrease of ¥142.8 billion, mainly due to a decline in domestic interest rates.
New Policy Amount/Policy Amount in Force/
Surrender and Lapse Amount/Surrender and Lapse Rate
Protection-type Annualized Premiums of New Policies/
Annualized Premiums for Third Sector New Policies
- Business Value
- Business Overview
- Taiyo Life Insurance Company
- Daido Life Insurance Company
- T&D Financial Life Insurance Company
- T&D Asset Management Co., Ltd.
- Pet & Family Small-amount Short-term Insurance Company
- Management Targets
Fiscal 2016 -
- Protection-type Annualized Premiums of New Policies*
- ¥16billion
- * A distinctive performance indicator of Taiyo Life which is the sum of protection portion of the annualized premiums of new policies mainly excluding savings-type products.
- Fundamental Strategy
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- Build the top brand in the senior market by promoting sales combining the different approaches of “strengthening of face-to-face services through visits,” “product development which preempts the changes of the times,” and “further enhancement of the in-house sales representative channel.”
- Business Model
