Sales Results

In fiscal 2015, the new policy amount^* of the three life insurance companies was ¥6,685.9 billion, down 7.5% from the previous fiscal year. The surrender and lapse amount of the three insurance companies was ¥3,789.5 billion, up 1.0%. As a result, the total policy amount in force of the three insurance companies was ¥62,998.1 billion, up 1.4% from the previous fiscal year-end.

At Taiyo Life, the total new policy amount decreased by 24.9% from the previous fiscal year to ¥2,134.1 billion, because Taiyo Life conducted management with an emphasis on EV, including a focus on Third Sector products such as nursing care and medical products, along with curtailing sales of single premium individual annuities via OTC sales at banks, given the low interest rate environment. 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 down 0.8% from the previous fiscal year-end to ¥21,983.5 billion.

Daido Life's new policy amount was up 6.2% year on year to ¥4,315.5 billion, mainly due to growth in sales of individual term life insurance and disability benefit products (J-type product (non-participating critical illness insurance) and T-type product (non-participating disability income insurance)), which are Daido Life's core products, as well as favorable sales of new nursing care products (Shunyu Relief (non-participating nursing care income protection insurance) and Kaigo Relief (non-participating whole life nursing care insurance)). The surrender and lapse rate deteriorated by 0.10 percentage points from the previous fiscal year to 6.48%. As a result, the policy amount in force was ¥39,205.9 billion, up 2.7% from the previous fiscal year-end.

T&D Financial Life's new policy amount was down 26.8% from the previous fiscal year to ¥236.2 billion, due to the suspension of sales of yen-denominated single premium whole life insurance products in the low interest rate environment. The surrender and lapse rate improved by 2.21 percentage points from the previous fiscal year to 3.41%. As a result, the policy amount in force was ¥1,808.7 billion, up 0.1% from the previous fiscal year-end.

• * The total of individual insurance, individual annuities, and Daido Life's J-type product, T-type product and Kaigo Relief.

Fiscal 2016 Policy Results Forecasts (For Reference)

• *1 Includes individual insurance, individual annuities, and J-type product, T-type product and Kaigo Relief.
• *2 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.