Ordinary Revenues by Segment
1. Domestic Insurance Business
Ordinary revenues in the domestic insurance business increased by ¥83.0 billion to ¥4,420.3 billion (up 1.9% YoY), mainly due to an increase in investment income at The Dai-ichi Life Insurance Company, Limited, due to higher gains on sales of domestic equities.
Segment profit increased by ¥110.0 billion to ¥284.5 billion (up 63.1% YoY), mainly due to a significant decrease in the provision for policy reserves at The Dai-ichi Frontier Life Insurance Co., Ltd., due to an increase in contract cancellations upon reaching customer-defined target amounts.
2. Overseas Insurance Business
Ordinary revenues in the overseas insurance business increased by ¥300.3 billion to ¥1,921.6 billion (up 18.5% YoY), mainly due to higher interest and dividend income at Protective Life Corporation (The previous interim accounting period was from January 1, 2023, to June 30, 2023, and the current interim accounting period is from January 1, 2024, to June 30, 2024.), driven by improved investment yields reflecting changes in the financial market environment, and foreign exchange gains resulting from the yen's depreciation.
As a result, segment profit increased by ¥12.4 billion to ¥98.9 billion (up 14.4% YoY).
3. Other Business
Ordinary revenues in the other business segment increased by ¥60.1 billion to ¥269.6 billion (up 28.7% YoY), mainly driven by higher dividend income from group companies, including The Dai-ichi Life Insurance Company, Limited, and TAL Dai-ichi Life Australia Pty Ltd.
Segment profit increased by ¥33.1 billion to ¥229.5 billion (up 16.9% YoY).