Three major Sompo Group companies suffered a decline in profits in the fiscal year ended in March Impacted by the new Corona, etc. 18:50 on May 20
As a result of three major non-life insurance companies, the final profit for all three companies in the fiscal year ended March 31, 2015 decreased. The spread of the new coronavirus confused the financial markets, and the loss of the stock price held for investment caused a loss.
Three major companies, MS & AD Holdings, Tokio Marine Holdings, and SOMPO Holdings, announced their financial results for the year ending March 20th.
Compared to the previous
fiscal year, the final profits were ▽ MS & AD decreased by 25%,
▽ Tokio Marine decreased by 5%, and
▽ SOMP decreased by 16%.
In addition to increasing reserves due to successive large-scale natural disasters such as typhoons, the effect of the new coronavirus disrupted the financial market in March and the stocks held for investment fell. Because there was a loss.
On the other hand, the outlook for the next fiscal year is that MS & AD expects a decrease in profit, while SOMPO expects an increase in profit, and Tokio Marine is “undecided”.
Yuichi Fujita, managing director of Tokio Marine Holdings, said, “It is important to maintain a solid insurance underwriting and payment system while the spread of infection continues. What is an insurance company as society and working style change? I want to think about whether I can contribute. "