Tokio Marine Holdings Inc (TKOMF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for joining us. I am Ishiguro of Global Communications. We will now start the earnings call for Tokyo Marine Holdings overview of second quarter fiscal year 2024 results and full year projections. Group CEO, Mr. Komiya, and Group CFO, Mr. Okada, will give an overview of our results and capital policy for about 15 minutes using the presentation document uploaded to our homepage today, after which we will open for questions. Disclaimer before we begin. The presentation may include forward-looking statements based on future projections of current forecasts, which are subject to risks and uncertainties. Please be aware that actual results may differ materially. Recordings of the earnings call are available on request. Let us now start. Komiya-san, over to you. Hello, everyone. My name is Komiya, CEO of Tokyo Mine Holdings. I thank you for your participation today and for your extended support towards Tokyo Marine. First of all, I will be explaining about the overview of second quarter earnings and key messages from the management. Please turn to page three. There are three key messages that I'd like to convey to you today. The first is about the underlying performance of our business. Regarding the first half earnings, leaving aside the FX factor which worked in favor of us The underlying performance of underwriting business continues to be strong, mainly in international business, such as North America and Brazil. Regarding sales of business-related equities, it is being done swiftly, as we have divested 606 billion yen in the first half of the year, exceeding the original projection. Second point is revision of full-year projection. As I have explained, underwriting performance continues to be strong. However, situation surrounding CRE loans is tough based on...