Sound underwriting and insurance-claim payment management

「Small-amount, short-term insurance business: Following the transfer of all shares of アスモ少額短期保険株式会社 dated 30 March 2022, the company was excluded from the scope of consolidation as of the end of the previous consolidated fiscal year.」

「At アスモ少額短期保険株式会社, which handles non-life insurance products for residents of senior facilities, the number of new residents entering senior facilities declined slightly due to the COVID-19 pandemic, but insurance underwriting remained largely unaffected.」

「The number of new contracts increased by 590 net during the third quarter of the current consolidated fiscal year, bringing total contracts in force to 2,966. For the cumulative third-quarter period, premium income was ¥252 million, an increase of ¥10 million from ¥241 million in the same period of the previous year. The company will continue to acquire new contracts and increase premium income by creating synergies with group companies and developing new markets and sales agencies.」

「In the consolidated fiscal year under review, operating income before amortization of goodwill was ¥31 million, achieving 171.6% of the plan of ¥18 million. This was largely attributable to prudent insurance underwriting, with claims payments settling below the expected ¥115 million at ¥97 million.」

「In the third quarter of the current consolidated fiscal year, premium income was ¥81,931 thousand, representing an achievement rate of 90.0% against the plan of ¥91,017 thousand. For the cumulative period to date, premium income was ¥241,351 thousand, or 93.1% of the plan of ¥259,187 thousand. Although premium income was below plan, claims payments were 83.4% of plan for the current fiscal year, allowing the insurance business to maintain sound operations.」

「In the second quarter of the current consolidated fiscal year, premium income was ¥79,691 thousand, representing an achievement rate of 91.6% against the plan of ¥86,987 thousand. For the cumulative second-quarter period, premium income was ¥159,420 thousand, or 94.8% of the plan of ¥168,169 thousand. The claims payment ratio, including for new products, remained stable at 97.5% of plan, enabling the company to operate a sound insurance business.」

「In the first quarter of the current consolidated fiscal year, premium income was ¥79 million, representing an achievement rate of 98.2% against the plan of ¥81 million. From the second quarter onward, the company plans to acquire new contracts and increase premium income by using new products as a catalyst, creating synergies with group companies and developing the senior market, while maintaining a sound insurance business.」

「In the consolidated fiscal year under review, operating income before amortization of goodwill was ¥22 million, achieving 118.3% of the plan of ¥18 million. This was largely attributable to claims payments settling below the expected ¥123 million at ¥99 million, which indicates that insurance underwriting was conducted prudently.」