Major life insurance Decrease in profits at both domestic and overseas low interest rates November 22 18:11
In the interim results up to September for the four major life insurance companies, the profits of the main business were all lower than the same period of the previous year. The harsh operational environment has become clearer as the yield of government bonds has declined both at home and abroad.
The major life insurance group announced by the 22nd, and in the interim financial results from April to September, the “basic profit”, which is the main business, decreased by 11.9% in “Nippon Life” compared to the same period last year .
“Daiichi Life Holdings” decreased by 15.9%, “Meiji Yasuda Life” decreased by 1.4%, and “Sumitomo Life” decreased by 0.3%.
The main reason for this is that the trend of monetary easing has strengthened, and the yield of Japanese government bonds as well as the yield of overseas government bonds such as the United States has declined and the operating environment for funds has become severe.
In addition, “income premium income”, which is the sales of the insurance company, has been sluggish in popular foreign currency-denominated insurance products last year due to lower overseas interest rates. Daiichi Life, Meiji Yasuda Life and Sumitomo Life Decreased.
Mr. Satoshi Asahi, managing director of Nippon Life, said at the conference, “We have taken it tougher than expected due to the headwinds of the market environment. We want to capture customer needs by reviewing operations and expanding insurance products.” .