5 of 8 Major Japan Life Insurers Enjoy 1st-Half Profit Growth

Economy

Tokyo, Nov. 22 (Jiji Press)--Five of eight major Japanese life insurance companies enjoyed year-on-year growth in core business profits in the April-September first half of fiscal 2018, according to their earnings reports released by Thursday.

Many of them saw increases in dividends on shareholdings on the back of robust corporate earnings.

Industry leader Nippon Life Insurance Co. posted 403.7 billion yen in core business profit in the period, up 17.0 pct. Dai-ichi Life Holdings Inc. <8750> reported a profit of 308.2 billion yen, up 1.6 pct.

Meiji Yasuda Life Insurance Co. and Sumitomo Life Insurance Co. saw profit growth of 16.0 pct and 20.8 pct, respectively, thanks to higher gains from foreign bond investment. Core business profit at Sony Life Insurance Co. jumped 31.8 pct.

In contrast, core business profit fell by 0.2 pct at T&D Holdings Inc. <8795> and by 12.2 pct at Asahi Mutual Life Insurance Co., due to larger costs for winning new policy contracts.

[Copyright The Jiji Press, Ltd.]

Jiji Press