Lifenet Insurance Company · TSE:7157
Lifenet Insurance — Q3 FY2024 Earnings Presentation
20 slides from Lifenet Insurance's earnings presentation, Feb 12, 2025
Slide 1: 3Q Financial Results Briefing for the Fiscal Year Ending March 2025
LIFENET INSURANCE COMPANY 3Q Financial Results Briefing for the Fiscal Year Ending March 2025 February 12, 2025 [Speaker] Ryosuke Mori President and Representative Director
Slide 2: Presentation
Presentation Mori: Thank you very much for attending our financial results briefing today. We announced financial results for Q3 FY2024. Presentation materials are available on our IR website. I would like to provide an overview of the financial results using the presentation materials. Copyright© L
Slide 3: Main points of today's financial results presentation
Please look at page 1. These are the main points of today's financial results presentation. Comprehensive capital CE, the most important management indicator of corporate value, increased 5.8% from the end of the same period last year to JPY165.229 billion. Next, annualized premiums of policies-in-f
Slide 4: New initiative with the SMBC Group
Finally, we have launched a new initiative with the SMBC Group with whom we have a capital and business alliance to offer exclusive products and insurance that earn V-Points to a new customer base. Details of each item will be explained later. Copyright© LIFENET INSURANCE COMPANY All rights reserved
Slide 5: Annualized premiums of policies-in-force
Please refer to page 2. Annualized premiums of policies-in-force corresponding to annual recurring revenue amounted to JPY33.348 billion as of December 31, 2024. Both the individual insurance business and the group credit life insurance business continued to grow strongly with an increase of 19.6% o
Slide 6: Factors contributing to growth of policies-in-force
Page 3 shows the factors that contribute to the growth of its policies-in-force. Looking at the results by business segment, while the slow growth of individual life continues to be a challenging issue, we have seen signs of a recovery in policy performance since the beginning of this year, as is an
Slide 7: IFRS income statement summary
Next, please refer to page 4. From here we move on to an explanation of financial reporting under IFRS. To give you an initial sense of the whole picture, we have provided a summary of the IFRS- based income statement. To put it simply, insurance service results is the equivalent of so-called operat
Slide 8: Insurance service results trend
Please refer to page 5. The following graph shows the insurance services. First, looking at trends over time, with the exception of FY2022, when there was a sharp increase in COVID-19-related benefit payments, net insurance service results has grown steadily, reaching JPY7.193 billion in the first n
Slide 9: Factors in change of insurance service results
Please refer to page 6. The following chart shows the factors that contributed to the change in insurance services results from the first nine months of the last fiscal year to the first nine months of the current fiscal year. First, see the table on the left. Insurance service results are mainly br
Slide 10: Change in management indicator to Comprehensive Equity
Next, please refer to page 7. We have changed our management indicator from “European Embedded Value” to “Comprehensive Equity”. Comprehensive Equity is an indicator of our corporate value, the same as EEV. Comprehensive Equity, which we define as our own measure, is the sum of three components: equ
Slide 11: Trends in management indicators
Page 8 shows trends in management indicators. We show EEV through the end of March 2023, March 2024, and Comprehensive Equity at the end of December 2024. Comprehensive Equity at the end of December 2024 was JPY165.2 billion and management indicators have achieved high growth since IPO, with an aver
Slide 12: Changing factors of Comprehensive Equity
Please refer to page 9. Here is a changing factor of Comprehensive Equity for the 9-month period from the end of March 2024 to the end of December 2024. The increase in interest rates during Q3 negatively affected “Other comprehensive income”, but “GCL contracts value” and “net income” increased it
Slide 13: Group credit life insurance with au Jiban Bank
From this point on, we will explain the main initiatives and evaluations for the current fiscal year. Please refer to page 10. In January 2025, we began offering GCL for joint mortgage for customers who take out a mortgage loan through au Jiban Bank's pair loan program. As shown on the right side of
Slide 14: Oricon Customer Satisfaction Survey ranking
Please refer to page 11. In the Oricon Customer Satisfaction Survey released in January 2025, we were ranked 1st in the online life insurance category, as well as first in life insurance overall, literally the highest rating in the life insurance rankings. This not only reaffirms our position as a l
Slide 15: New product: term medical insurance
Please refer to page 12. In an effort to create a new market, we launched a new product, term medical insurance, in October 2024, taking advantage of our high business efficiency as an online life insurance company and our young customer base of child-rearing generation. Term medical insurance is ma
Slide 16: Progress with partners
Please refer to page 13. This page introduces the progress of our efforts with each of our current partners. In addition to the partnership with au Jiban Bank in the Group's group credit business, au Payment Corporation became a sales agent, enabling us to reach more customers in the au economic zon
Slide 17: Efforts to improve share price and P/CE multiple
The initiatives in the priority areas described so far will be the drivers of growth in Comprehensive Equity CE, a measure of corporate value. In this slide, we present our current awareness of and efforts to improve our current share price and P/CE multiple in order for the market to properly refle
Slide 18: Business forecasts for FY2024
Please refer to page 15, showing the business forecasts for FY2024. Although our business forecasts remain unchanged from those announced in May, there is a point that we would like to bring to your attention today. If a special defense corporation tax is introduced during FY2024 by a resolution of
Slide 19: Five-year mid-term business plan to FY2028
Please refer to page 16. This is an overview of the five-year mid-term business plan ending in FY2028. Through the implementation of our three priority areas and human resources strategy to move us to the next stage of growth, we aim to achieve our financial targets of a stock price of over JPY3,000
Slide 20: Closing remarks
Lastly, please refer to page 17. We will continue to pursue growth to expand the scale of our business while capturing the structural megatrend of financial services going online. On this basis, we aim to reach our management target of JPY200 billion to JPY240 billion in Comprehensive Equity in FY20
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