Komori
Secom (9735) · FactFirst stated

Lower operating income in the insurance business due to the reversal of the prior-year release of policy reserves

First written in FY2020-Q1. . Latest entry: FY2020-Q1.

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Decline in insurance business profit due to the base effect of a policy reserve reversalA theme 1 companies write about · 1 as a headwind · 0 as a tailwind

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  1. FY2020-Q1First statedAnnual report

    「In the insurance business, revenue was ¥11.2 billion, up 1.4% year on year, due mainly to strong sales of cancer insurance, “Free Medical Treatment Insurance Medicom,” and auto insurance by SECOM General Insurance Co., Ltd. However, operating income decreased 40.5% year on year to ¥1.4 billion. This was due mainly to the recognition of a release of policy reserves in the same period of the previous year.」

    Sales of insurance products contributed to higher revenue, while operating income decreased 40.5% year on year due to the reversal of the prior-year release of policy reserves.
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