MS&AD Insurance Group Holdings, Inc. · TSE:8725
MS&AD Insurance — Q1 FY2022 Earnings Presentation
25 slides from MS&AD Insurance's earnings presentation, Aug 5, 2022
Slide 1: Materials for FY2022 1Q Results Briefing – Conference Call
Materials for FY2022 1Q Results Briefing – Conference Call August 5, 2022 (Fri.) MS&AD Insurance Group Holdings, Inc. 1
Slide 2: Today’s Key Points
Today’s Key Points FY2022 1Q Results ・Net income decreased by 58.3 billion yen to 60.4 billion yen from the same period of the previous year. Progress against annual forcast was 25.2%. Group Adjusted profit decreased by 89.4 billion yen to 55.0 billion yen from the same period of the previous year.
Slide 3: Contents
Contents Summary of FY2022 1Q Results Consolidated Earnings Page 5-12 Domestic Non-Life Insurance Companies Page 13-15 Domestic Life Insurance Companies Page 16-17 Overseas Subsidiaries Page 18 (Reference) Domestic Non-Life Insurance Companies, MSI & ADI Page 19-21 (Reference) MS Amlin's Results for
Slide 4: Summary of FY2022 1Q Results
Summary of FY2022 1Q Results MS&AD Insurance Group Holdings, Inc. 4
Slide 5: Consolidated Earnings (1) - Overview (i) (Top line)
Consolidated Earnings for FY2022 1Q (1) - Overview (i) (Top line) Non-life insurance subsidiaries （¥bn） FY2021 1Q FY2022 1Q Results Results YoY Change Growth Direct premiums written 1,060.3 1,104.8 44.5 4.2% (excl. deposit premiums from policyholders) Net premiums written 981.2 1,027.5 46.3 4.7% Mit
Slide 6: Consolidated Earnings Overview (i) (Topline)
Consolidated Earnings for FY 2022 1Q Overview (i)(Topline) (Non-life insurance companies [domestic and overseas]) ・Net premiums written was 1,027.5 billion yen, increased by 46.3 billion yen, or 4.7%, from the same period of the previous fiscal year mainly due to an increase in overseas insurance su
Slide 7: Consolidated Earnings (1) - Overview (ii) (Bottom line)
Consolidated Earnings for FY2022 1Q (1) - Overview (ii) (Bottom line) (¥bn) FY2021 1Q FY2022 1Q Annual Results Results YoY Change Change Ratio Forecast Ordinary profit/loss 165.1 93.5 - 71.5 - 43.4% 350.0 Mitsui Sumitomo Insurance 83.1 53.4 - 29.7 - 35.8% 180.0 Aioi Nissay Dowa Insurance 39.8 36.0 -
Slide 8: Consolidated Earnings Overview (ii) Bottom Line: Net income
Consolidated Earnings for FY2022 1Q(1) Overview (ii) Bottom Line < Net income > (Group Consolidated) ・Net income was 60.4 billion yen, decreased by 58.3 billion yen. (Two major domestic non-life insurance companies) ・Insurance underwriting profit decreased by 38.6 billin yen due to the hail losses i
Slide 9: Consolidated Earnings (2) - Year-on-Year Comparison (i)
Consolidated Earnings for FY2022 1Q (2) - Year-on-Year Comparison (i) ・ Domestic non life total(7) decreased by 23.9 billion yen due to the increase of (2)Incurred loss despite the increase of (1)Earned premiums, (3)Net catastrophe reserve and (5)Investment profit/loss and others. ・ Domestic life in
Slide 10: Consolidated Earnings (2) - YoY Results Comparison (ii)
Consolidated Earnings for FY2022 1Q (2) – YoY Results Comparison (ii) Factors in YoY changes in consolidated net income （¥bn） FY2021 1Q FY2022 1Q YoY Change Results Results Consolidated net income/loss 118.7 60.4 - 58.3 ※1 Domestic non-life insurance : Underwriting profit/loss (excl. residential 56.
Slide 11: Consolidated Earnings (3) - Group Adjusted Profit
Consolidated Earnings for FY2022 1Q (3) – Group Adjusted Profit • Group Adjusted Profit decreased by 89.4 billion yen mainly due to a decrease of the profit in domestic non life insurance business in addition to decline in international businesses and domestic life insurance businesses. (¥bn) FY2021
Slide 12: Consolidated Earnings (4) - Impact of Natural Catastrophes
Consolidated Earnings for FY2022 1Q (4) – Impact of Natural Catastrophes - The domestic natural catstrophes loss was 38.5 billion yen due to the impact of hails losses in June(Voluntary Automobile insurance: 23.4 billion yen, Fire insurance : 14.9 billion yen) increased by 38.4 billion yen compared
Slide 13: Domestic Non-Life Insurance Companies (1) – MSI & ADI Results (i)
Domestic Non-Life Insurance Companies (1) – MSI & ADI Results for FY2022 1Q (i) • Underwriting profit (prior to reflecting catastrophe reserve) decreased by 85.6 billion yen due to an increase in hail losses in June, an increase of voluntary automobile insurance loss reflecting the recovery of traff
Slide 14: Domestic Non-Life Insurance Companies (1) – MSI & ADI Results (ii)
Domestic Non-Life Insurance Companies (1) – MSI & ADI Results for FY2022 1Q (ii) • Despite a decrease in gains on sales of securities and an increase in impairment losses on securities, income from asset management and other activities increased by 5.1 billion yen due mainly to an increase in intere
Slide 15: Domestic Non-Life Insurance Companies (2) - Voluntary Auto Insurance
Domestic Non-Life Insurance Companies FY2022 1Q (2) - Voluntary Auto Insurance • The number of motor insurance accidents increased by 7.3% year-on-year at the end of June due to an increase in traffic volume. However, this was down 4.3% from the same period in FY2019. • EI loss ratio increased by 12
Slide 16: Domestic Life Insurance / MSI Aioi Life - Results
Domestic Life Insurance / MSI Aioi Life - Results for FY2022 1Q • Amount of new policies decreased by 28.5% year on year due to the decrease of income guarantee insurance sales. • Net income decreased by 1.1 billion yen mainly due to an increase of COVID-19 claims. MSI Aioi Life (¥bn) FY2021 1Q FY20
Slide 17: Domestic Life Insurance / MSI Primary Life - Results
Domestic Life Insurance / MSI Primary Life - Results for FY2022 1Q • Gross premiums income increased by 29.8% due to the improvement of the market situation and revision of main products and the promotion of sales. • Net income decreased by 11.7 billion yen to 3.2 billion yen due to a provision of p
Slide 18: Overseas Subsidiaries - Results
Overseas Subsidiaries - Results for FY2022 1Q • Net premiums written increased by 45.1 billion yen mainly due to the increase of each region especially in Europe including MS Amlin and the impact of exchange rate. • Net income decreased by 11.4 billion yen mainly due to the 9.1 billion yen decrease
Slide 19: <Reference> Domestic Non-Life Insurance – MSI & ADI Results (1)
<Reference> Domestic Non-Life Insurance Companies – MSI & ADI Results for FY2022 1Q (1) Net premiums written (¥bn) Simple Sum MSI (Non-Consolidated) ADI (Non-Consolidated) 2021 2022 2022 Growth Growth Results Growth Result Results Results Fire and allied 83.4 81.2 -2.6% 41.4 -3.6% 39.8 -1.6% Marine
Slide 20: <Reference> Domestic Non-Life Insurance – MSI & ADI Results (2)
<Reference> Domestic Non-Life Insurance Companies – MSI & ADI Results for FY202２ 1Q (2) EI loss ratio (Simple sum of MSI and ADI) EI Loss Ratio EI Loss Ratio (excl. impact of nat. cat.) FY2021 1Q FY2022 1Q FY2021 1Q FY2022 1Q Results Results YoY Change Results Results YoY Change Fire and allied (exc
Slide 21: <Reference> Domestic Non-Life Insurance – MSI & ADI Results (3)
<Reference> Domestic Non-Life Insurance Companies – MSI & ADI Results for FY2022 1Q (3) EI loss ratio (MSI (Non-consolidated), ADI (Non-consolidated)) EI Loss Ratio EI Loss Ratio (excl. impact of nat. cat.) MSI (Non-consolidated) ADI (Non-consolidated) MSI (Non-consolidated) ADI (Non-consolidated) R
Slide 22: <Reference> MS Amlin’s Results (Jan. – Mar. 2022)
<Reference> MS Amlin’s Results for FY2022 1Q (Jan. – Mar. 2022) ※1 ・Net income for Jan- Mar 2022 was -£93 million due to the impact of losses related to Russia and Ukraine, and negative investment performance. ・Underwriting profit was -£66 million due to the impact of -£95 million losses related to
Slide 23: <Reference> ESR
<Reference> ESR ESR*1 Integrated Risk Amount * 2 Net Asset Value (ref.) UFR applied 228% 228% (231%) (235%) (¥tn) <Factors behind ESR change> 5.5 (vs. end of March 2022) 5.5 (5.6) ESR remained same level(±0 pp) (5.6) compared with End of March 2022 2.4 2.4 The retained earnings was offset by (2.4)
Slide 24: Abbreviations of company names used in this presentation
Abbreviations of company names used in this presentation • MS&AD Holdings : MS&AD Insurance Group Holdings, Inc. • MS&AD: MS&AD Insurance Group • Mitsui Sumitomo Insurance, MSI : Mitsui Sumitomo Insurance Co., Ltd. • Aioi Nissay Dowa Insurance, ADI : Aioi Nissay Dowa Insurance Co., Ltd. • Mitsui Dir
Slide 25: Definition of “Group Adjusted Profit”; Forward-Looking Statements
Definition of “Group Adjusted Profit” Group Adjusted Profit = Consolidated net income + Provision for catastrophe loss reserve and others - Other incidental factors (amortization of goodwill and other intangible fixed assets and others) + Equity in earnings of the non-consolidated group companies Ad
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