Financial Results Overview
Ordinary revenues of Dai-ichi Life Holdings, Inc. (hereinafter the “Company” or the “Parent Company”) and its consolidated subsidiaries (collectively, the “Group”) for the nine months ended December 31, 2024 increased by 72.3 billion yen, or 0.9%, to 7,839.7 billion yen, consisting of (1) 5,106.5 billion yen (10.5% decrease) of premium and other income, (2) 2,309.9 billion yen (28.1% increase) of investment income, and (3) 423.2 billion yen (62.8% increase) of other ordinary revenues, compared to the nine months ended December 31, 2023. Ordinary revenues increased due mainly to the increase in investment income at The Dai-ichi Life Insurance Company, Limited, and Protective Life Corporation.
Meanwhile, the Group's ordinary expenses for the nine months ended December 31, 2024 decreased by 1.5%, to 7,282.0 billion yen, consisting of (1) 4,795.6 billion yen (3.8% decrease) of benefits and claims, (2) 978.5 billion yen (15.6% decrease) of provision for policy reserves and others, (3) 530.7 billion yen (49.4% increase) of investment expenses, (4) 725.3 billion yen (10.7% increase) of operating expenses, and (5) 251.7 billion yen (6.8% increase) of other ordinary expenses, compared to the nine months ended December 31, 2023. Ordinary expenses decreased due mainly to the decrease in provision for policy reserves and others at The Dai-ichi Frontier Life Insurance Co., Ltd.
Consequently, the Group's ordinary profit for the nine months ended December 31, 2024, compared to the nine months ended December 31, 2023, increased by 183.7 billion yen or 49.1%, to 557.6 billion yen. Its net income attributable to shareholders of parent company for the nine months, which is ordinary profit after extraordinary gains and losses, provision for reserve for policyholder dividends, and total of corporate income taxes, increased by 62.3%, to 353.7 billion yen.
Financial Position Overview
The Group's total assets as of December 31, 2024, compared to March 31, 2024, increased by 1.5%, to 68,540.4 billion yen, mainly consisting of 52,932.5 billion yen (2.2% increase) of securities, 4,947.8 billion yen (4.8% increase) of loans, 1,211.5 billion yen (1.1% decrease) of tangible fixed assets, and 1,921.7 billion yen (3.7% increase) of reinsurance receivable.
The Group's total liabilities as of December 31, 2024 increased by 1.6% to 64,652.7 billion yen, mainly consisting of 58,242.3 billion yen (1.9% increase) of policy reserves and others, compared to March 31, 2024.
The Group's total net assets as of December 31, 2024 increased by 0.1% to 3,887.6 billion yen. Net unrealized gains on securities, net of tax, as of December 31, 2024, which are included in the Group's total net assets, decreased by 1.9% to 1,700.7 billion yen.
Earnings Forecast
The Company projects that its consolidated ordinary revenues for the fiscal year ending March 31, 2025 will exceed the previous forecast because it expects an increase in investment income of The Dai-ichi Life Insurance Company, Limited and Protective Life Corporation.
The Company expects its consolidated ordinary profit, net income attributable to shareholders of parent company and its group adjusted profit for the fiscal year ending March 31, 2025 to exceed previous forecasts due mainly to an increase in higher interest and dividends income at The Dai-ichi Life Insurance Company, Limited and a decrease in amortization of intangible assets related to the acquisition of Benefit One Inc.
Consolidated Earnings Forecasts for the Fiscal Year ending March 31, 2025
(% represents the change from the previous fiscal year)
| Ordinary Revenues | Ordinary Profit | Net Income Attributable to Shareholders of Parent Company | Net Income per Share | ||||
|---|---|---|---|---|---|---|---|
| Fiscal Year ending March 31, 2025 |
million yen 10,192,000 |
% -7.6 |
million yen 688,000 |
% 27.6 |
million yen 385,000 |
% 20.0 |
yen 418.36 |
For further details refer to "Revision of Consolidated Earnings and Dividend Forecast for the Fiscal Year Ending March 31, 2025"