FY2008 Interim Financial Results FY2008 Interim Financial Results & FY2008 Management Policy FY2008 Management Policy Aioi Insurance Company, Limited Aioi Insurance Company, Limited December 1, 2008 December 1, 2008
Table of Contents Table of Contents I. I. FY2008 Interim Fi FY2008 Interim Financial S nancial Summa mmary 1. Aioi Insurance Co., Ltd. 1. Aioi Insurance Co., Ltd. 1 2. Consolidated Financial Results 2. Consolidated Financial Re sults 4 II. FY2008 Managem Y2008 Management nt Poli Policy cy 1. Revenue Base 1. Revenue Base (1) Auto Insurance (Domestic) (1) Auto Insurance (Domestic) 5 (2) Auto Insurance (Overseas) (2) Auto Insurance (Overseas) 6 (3) Long-Term Fire Insurance (3) Long-Te m Fire Insurance 8 (4) Cross Selling (4) Cross S lling 9 2. Profit Base 2. Profit Base (1) Insurance Business (1) Insurance Business 11 11 (2) Invest (2) Investment Stra ment Strategy tegy 12 12 (3) Group Co (3) Group Companies’ mpanies’ Business Business 13 13 3. 3. Further Development Further Development of the Basis fo of the Basis for Grow r Growth th 15 15 4. FY2008 Busines 4. FY2008 Business Plan Plan 16 16
I. FY2008 Interim Financial Summary I. FY2008 Interim Financial Summary
1. Aioi Insurance Co., Lt 1. Aioi Insurance Co., Ltd. (1) Financial Highlights d. (1) Financial Highlights 1H FY2008 1H FY2008 - While n ile net prem t premiums iums writ written d ten decreased, creased, 1H FY2007 - While n hile net prem t premiums iums writ written d ten decreased, creased, Forecast Insurance U Underwrit rwriting Change Change % signs of recovery were s signs of recovery were seen after July een after July signs of recovery were signs of recovery were s seen after July een after July 2008 d 2008 due t e to in incr creas easing new n non-fl -fleet Direct Premiums Written 444.4 431.6 -12.8 -2.9% 2008 2008 d due t e to in incr creas easing new n non-fl -fleet contracts. contra cts. Net Premiums Written 428.6 418.0 -10.5 -2.5% 425.0 contra contracts. cts. Excluding CALI 352.7 350.9 -1.7 -0.5% 357.9 - Stable Stable unde underwrit writing ing profit achie profit achieved ed. . Underwriting Profit 5.8 5.4 -0.4 -7.6% 3.0 - Stable unde Stable underwrit writing ing profit achie profit achieved ed. . 5.4 5. 4 billio billion ye n yen pro n profit being it being 2. 2.4 bi 4 billio llion n 5.4 5. 4 billio billion ye n yen pro n profit being it being 2. 2.4 bi 4 billio llion n Rati Ra tios yen yen more th more than the forec the forecast due st due to to yen more th yen more than the forec n the forecast due ast due to to Net Premium Growth 0.4% -2.5% -2.9P -0.8% decreasing dec easing ma major n jor natural tural cat catastrophes astrophes decreasing dec easing ma major n jor natural atural cat catastrophes astrophes events. ev ents. Net Loss Ratio 58.8% 61.8% 3.0P 60.7% ev events. ents. Net Expense Ratio 32.7% 34.2% 1.5P 33.1% - Whi While int intere rest/d st/div ivid idend end i incom come - While int Whi intere rest/d st/div ivid idend end i incom come steadi steadily ly incre increased com ased compared to ared to the the Rati tios Ex Excluding CA CALI steadi steadily ly incre increased com ased compared to ared to the the fore forecast,. cast,. i nvestm nvestment inco ent income was was 9. 9.3 3 Net Premium Growth 0.5% -0.5% -1.0P 1.5% forecast,. fore cast,. i nvestm nvestment inco ent income was was 9. 9.3 3 bi billio llion ye n yen ,1 n ,1.4 .4 billi billion yen le yen less than the ss than the bi billio llion ye n yen ,1 n ,1.4 .4 billi billion yen le yen less than the ss than the Net Loss Ratio 56.3% 57.9% 1.6P 56.7% fore forecast cast due due to evaluat evaluation loss of on loss of securit securities. es. fore forecast cast due due to evaluat evaluation loss of on loss of securit securities. es. Net Expense Ratio 35.1% 35.2% 0.1P 33.9% - Net Net income income was was alm almost the same as the st the same as the Inve In vestments - Net Net income income was was alm almost the same as the st the same as the forecast. fore cast. forecast. fore cast. Interest/Dividend Income 44.9 23.3 -21.5 -48.1% 22.0 - Solvency mar lvency margin ratios remain in ratios remained at ed at Investment Profit and Loss 17.8 9.3 -8.4 -47.6% 10.7 - Solvency mar lvency margin ratios remain in ratios remained at ed at the 80 the 800% level 0% level even th ven though ough it d it decreased creased Ordinary Income 20.6 13.2 -7.3 -35.5% 11.0 the 80 the 800% level 0% level even th ven though ough it d it decreased creased compared com ared to fiscal 2007 due t fiscal 2007 due to evalu evaluation tion compared com ared to fiscal 2007 due t fiscal 2007 due to evalu evaluation tion Net Income 17.7 6.5 -11.1 -62.9% 7.0 loss of loss of securities securities loss of loss of securities securities Solvency cy M Marg rgin FY2007 1H FY2008 Change Solvency Margin Ratios 862.6% 811.7% -50.9P Total Solvency Margin 841.7 774.8 -66.9 <Note> Total Risk 195.1 190.9 -4.2 Unit: Billions of Yen All amounts are truncated. All figures rounded to one decimal place. Net loss ratios include loss adjustment expense. 1
1. 1. Aioi Insurance Co., Ltd. (2) Class of Business Aioi Insurance Co., Ltd. (2) Class of Business By Class of Business By Class of Business By Class of Business By Class of Business Net Premiums Written FY2008 Forecast 1H FY2007 1H FY2008 Change % Change % Change % Fire and Allied Lines 48.9 1.1% 49.4 1.0% 3.7% Marine 2.9 2.2% 3.0 2.6% 2.6% Personal Accident 24.8 -1.6% 23.9 -3.7% -4.1% Voluntary Automobile 238.0 0.4% 235.5 -1.1% -1.4% CALI 75.9 -0.3% 67.0 -11.6% -17.6% Other 37.8 2.1% 38.9 2.9% 5.6% Total 428.6 0.4% 418.0 -2.5% -3.2% Total excluding CALI 352.7 0.5% 350.9 -0.5% -0.1% Net Loss Paid FY2008 Forecast 1H FY2007 1H FY2008 Net Loss Ratio Net Loss Ratio Net Loss Ratio Fire and Allied Lines 16.0 34.1% 15.7 33.4% 35.5% Marine 1.9 69.1% 1.2 44.2% 50.0% Personal Accident 9.0 39.8% 10.9 49.5% 50.5% Voluntary Automobile 132.9 60.3% 134.2 61.7% 64.8% CALI 49.6 70.5% 50.8 81.7% 90.2% Other 25.0 69.5% 26.6 72.3% 72.6% Total 234.6 58.8% 239.6 61.8% 64.8% <Note> Unit: Billions of Yen All amounts are truncated. All figures rounded to one decimal place. Net loss ratios include loss adjustment expense. 2
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