Ordinary Revenues by Segment
1. Domestic Insurance Business
Ordinary revenue in the domestic insurance business decreased by ¥685.8 billion to ¥3,734.5 billion (down 15.5%) compared to the same period of the previous year. This decrease was primarily due to a decline in premium income at Dai-ichi Frontier Life Insurance, mainly attributable to lower sales of foreign currency-denominated single-premium products against a backdrop of falling overseas interest rates.
Segment profit increased by ¥6.0 billion compared to the same period last year to ¥290.5 billion (up 2.1%), primarily due to the absence of large-scale domestic bond replacement-related losses recorded in the same period last year at Dai-ichi Life.
2. Overseas Insurance Business
Ordinary income in the overseas insurance business decreased by ¥280.7 billion to ¥1,640.8 billion (down 14.6%) compared to the same period of the previous year. This decrease was primarily due to a decline in reinsurance income at Protective Life Corporation (The previous interim accounting period was from January 1, 2024, to June 30, 2024, and the current interim accounting period is from January 1, 2025, to June 30, 2025.) and the appreciation of the yen against other currencies.
As a result, segment profit decreased by ¥24.5 billion to ¥74.3 billion (down 24.8%) compared to the same period of the previous year. This decrease was primarily due to the factors mentioned above, as well as an increase in losses on sales of securities associated with the replacement of investment assets under reinsurance contracts.
3. Other Business
In other businesses, ordinary income increased by ¥7.6 billion to ¥277.2 billion (up 2.8%) compared to the same period last year, mainly due to higher dividend income from Dai-ichi Life. Segment profit decreased by ¥14.0 billion to ¥215.5 billion (down 6.1%) compared to the same period last year, primarily due to the recording of goodwill amortization for Benefit One Inc.