Business Highlights P2
Annualized Premiums P2
Policy Amount in Force P2
New Policy Amount P3
Surrender and Lapse Amount P3
Surrender and Lapse Rate P3
Status of General Account Assets P4
Asset Composition P4
Fair Value Information on Securities (Except Trading Securities) P4
Fair Value Information on Monetary Trusts P7
Fair Value Information on Land, etc P7
Status of Separate Account Assets P8
Balance of Separate Account Assets P8
Policy Amount in Force P8
Breakdown of Core Profit and Ordinary Profit P9
Breakdown of Core Profit P9
Breakdown of Ordinary Profit P10
Solvency Margin Ratio P11
Percentages are rounded to the nearest relevant percentage point. Therefore, the sums of each percentage do not always amount to 100%.
-
Business Highlights
-
Annualized Premiums
Policies in force
(Millions of yen, %)
Category
As of March 31, 2025
As of December 31, 2025
Amount
Amount
Change from Previous FYE (%)
Individual insurance
311,699
319,822
102.6
Individual annuities
255,208
236,556
92.7
Total
566,908
556,379
98.1
Medical benefits, living benefits, and others
141,685
145,771
102.9
Notes:
The amount of annualized premium is the annual premium amount calculated by multiplying factors according to the premium payment method to a single premium payment amount (for lump-sum payment, the amount is the total premium divided by the insured period).
The amount of "Medical benefits, living benefits, and others" represents annualized premium related to medical benefits (hospital benefits, surgical benefits, and others), living benefits (specified illness benefits, nursing care benefits, and others), and waiver of premium benefits (disability cause is excluded but causes such as specific illness and nursing care are included).
New policies
(Millions of yen, %)
Category
Nine Months Ended December 31, 2024
Nine Months Ended December 31, 2025
Amount
Change (%)
Amount
Change (%)
Individual insurance
37,008
157.8
34,689
93.7
Individual annuities
389
60.0
300
77.1
Total
37,397
155.2
34,990
93.6
Medical benefits,
living benefits, and others
15,730
106.2
15,789
100.4
Notes:
"Change (%)" is presented in comparison with the same period of the previous fiscal year.
New policies include net increase from conversion.
-
Policy Amount in Force
(Number: Thousands, 100 Millions of yen, %)
Category
As of March 31, 2025
As of December 31, 2025
Number of policies
Amount
Number of policies
Amount
Change from Previous FYE (%)
Change from Previous FYE (%)
Individual insurance
6,979
81,193
6,935
99.4
76,572
94.3
Individual annuities
755
22,800
705
93.4
20,766
91.1
Subtotal
7,734
103,993
7,641
98.8
97,339
93.6
Group insurance
-
98,067
-
-
98,101
100.0
Group annuities
-
10,857
-
-
9,927
91.4
Notes:
Policy amount in force for individual annuities is the sum of the accumulated capital as of the start date of annuity payments for policies which annuity payments have not yet commenced and the amount of policy reserve for policies which annuity payments have commenced.
Policy amount in force for group annuities is equal to the amount of policy reserve.
"Hoken Kumikyoku Best", launched in October 2008, has its own product feature that treats each individual protection as basic policy and allows for combination of each individual protection (basic policy) into one product. Each individual protection is counted as one policy for this product.
-
New Policy Amount
(Number: Thousands, 100 Millions of yen, %)
Category
Nine Months Ended December 31, 2024
Number
Amount
of policies
Change (%)
Change (%)
New policies
Increase from conversion
Individual insurance
940
101.0
4,500
291.5
6,216
(1,715)
Individual annuities
4
122.2
83
72.8
87
(4)
Subtotal
944
101.1
4,584
276.3
6,304
(1,719)
Group insurance
-
-
83
220.8
83
-
Group annuities
-
-
3
447.3
3
-
(Number: Thousands, 100 Millions of yen, %)
Category
Nine Months Ended December 31, 2025
Number
Amount
of policies
Change (%)
Change (%)
New policies
Increase from conversion
Individual insurance
829
88.2
4,632
102.9
5,627
(995)
Individual annuities
3
78.0
63
75.7
69
(6)
Subtotal
832
88.1
4,695
102.4
5,697
(1,001)
Group insurance
-
-
110
132.8
110
-
Group annuities
-
-
-
0.0
-
-
Notes:
"Change (%)" is presented in comparison with the same period of the previous fiscal year.
Number of new policies includes increase from conversion.
New policy amount including increase from conversion for individual annuities is equal to the accumulated capital as of the start date of annuity payments.
New policy amount for group annuities is equal to the initial premium payment.
"Hoken Kumikyoku Best", launched in October 2008, has its own product feature that treats each individual protection as basic policy and allows for combination of each individual protection (basic policy) into one product. Each individual protection is counted as one policy for this product.
-
Surrender and Lapse Amount
(Number: Thousands, 100 Millions of yen, %)
Category
Nine Months Ended December 31, 2024
Nine Months Ended December 31, 2025
Number of
Amount
Number of
Amount
policies
Change (%)
Change (%)
policies
Change (%)
Change (%)
Individual insurance
446
94.3
6,374
93.5
446
100.0
6,004
94.2
Individual annuities
6
83.2
247
78.5
6
94.2
219
88.8
Total
452
94.2
6,621
92.8
452
99.9
6,224
94.0
Notes:
"Change (%)" is presented in comparison with the same period of the previous fiscal year.
"Hoken Kumikyoku Best", launched in October 2008, has its own product feature that treats each individual protection as basic policy and allows for combination of each individual protection (basic policy) into one product. Each individual protection is counted as one policy for this product.
-
Surrender and Lapse Rate (Compared with the policy amount in force at the beginning of the fiscal year)
(%)
Category
Nine Months Ended December 31, 2024
Nine Months Ended December 31, 2025
Individual insurance
7.19
7.40
Individual annuities
0.95
0.96
Total
5.78
5.99
Note: The figures are not annualized.
-
Annualized Premiums
-
Status of General Account Assets
-
Asset Composition
(Millions of yen, %)
Category
As of March 31, 2025
As of December 31, 2025
Amount
Percentage
Amount
Percentage
Cash and deposits, call loans
232,114
3.5
208,857
3.0
Receivables under resale agreements
-
-
-
-
Pledged money for bond borrowing transaction
-
-
-
-
Monetary claims purchased
100,261
1.5
101,955
1.5
Securities under proprietary accounts
-
-
-
-
Monetary trusts
-
-
-
-
Securities
5,164,182
77.2
5,268,537
76.9
Domestic bonds
2,921,264
43.7
2,938,054
42.9
Domestic stocks
450,101
6.7
486,281
7.1
Foreign securities
1,662,223
24.8
1,701,061
24.8
Foreign bonds
407,683
6.1
299,119
4.4
Foreign stocks, etc.
1,254,539
18.7
1,401,941
20.5
Other securities
130,594
2.0
143,139
2.1
Loans
890,302
13.3
830,663
12.1
Policy loans
21,312
0.3
19,628
0.3
Commercial loans
868,990
13.0
811,035
11.8
Real estate
213,034
3.2
209,766
3.1
Deferred tax assets
2,563
0.0
-
-
Other assets
91,440
1.4
233,711
3.4
Reserve for possible loan losses
(1,489)
(0.0)
(1,343)
(0.0)
Total assets
6,692,410
100.0
6,852,148
100.0
Foreign currency-denominated assets
1,623,207
24.3
1,629,798
23.8
Note: The amount of real estate is the total amount of land, buildings and construction in progress.
- Fair Value Information on Securities (Except Trading Securities)
-
Asset Composition
Securities with fair value
(Millions of yen)
Category
As of March 31, 2025
Carrying value
Fair value
Net unrealized gains/losses
Gains
Losses
Held-to-maturity bonds
457,965
420,476
(37,488)
5,323
42,811
Domestic bonds
344,460
321,910
(22,549)
5,225
27,774
Foreign bonds
30,024
24,931
(5,093)
8
5,102
Monetary claims purchased
83,479
73,634
(9,845)
89
9,934
Certificates of deposit
-
-
-
-
-
Policy reserve matching bonds
2,020,092
1,782,310
(237,781)
14,745
252,526
Stocks of subsidiaries and affiliated companies
-
-
-
-
-
Available-for-sale securities
2,497,865
2,755,238
257,373
408,426
151,053
Domestic bonds
649,357
593,292
(56,064)
5,045
61,110
Domestic stocks
235,239
440,063
204,824
206,695
1,870
Foreign securities
1,510,712
1,592,270
81,557
168,259
86,701
Foreign bonds
400,166
341,077
(59,089)
1,106
60,196
Foreign stocks, etc.
1,110,545
1,251,192
140,646
167,152
26,505
Other securities
84,505
112,829
28,324
28,406
82
Monetary claims purchased
18,050
16,782
(1,268)
19
1,288
Certificates of deposit
-
-
-
-
-
Others
-
-
-
-
-
Total
4,975,922
4,958,025
(17,896)
428,495
446,391
Domestic bonds
2,977,329
2,662,154
(315,174)
24,998
340,173
Domestic stocks
235,239
440,063
204,824
206,695
1,870
Foreign securities
1,577,318
1,652,560
75,242
168,285
93,042
Foreign bonds
466,773
401,368
(65,404)
1,132
66,537
Foreign stocks, etc.
1,110,545
1,251,192
140,646
167,152
26,505
Other securities
84,505
112,829
28,324
28,406
82
Monetary claims purchased
101,530
90,416
(11,113)
109
11,222
Certificates of deposit
-
-
-
-
-
Others
-
-
-
-
-
Note:
The above table includes assets which are permitted to be treated as equivalent to securities defined in the Financial Instruments and Exchange Act.
The above table excludes stocks and partnerships and so forth without market prices.
(Millions of yen)
Category
As of December 31, 2025
Carrying value
Fair value
Net unrealized gains/losses
Gains
Losses
Held-to-maturity bonds
472,425
396,387
(76,037)
1,232
77,269
Domestic bonds
356,717
298,217
(58,500)
1,192
59,692
Foreign bonds
29,494
24,722
(4,772)
7
4,780
Monetary claims purchased
86,213
73,448
(12,764)
32
12,797
Certificates of deposit
-
-
-
-
-
Policy reserve matching bonds
2,044,950
1,654,250
(390,699)
4,510
395,210
Stocks of subsidiaries and affiliated companies
-
-
-
-
-
Available-for-sale securities
2,417,016
2,822,015
404,998
520,364
115,365
Domestic bonds
646,592
572,523
(74,069)
2,301
76,371
Domestic stocks
216,426
476,200
259,773
260,085
311
Foreign securities
1,457,735
1,631,864
174,129
211,110
36,981
Foreign bonds
251,525
233,488
(18,036)
2,527
20,564
Foreign stocks, etc.
1,206,210
1,398,375
192,165
208,582
16,416
Other securities
78,828
125,685
46,857
46,857
-
Monetary claims purchased
17,433
15,742
(1,691)
9
1,701
Certificates of deposit
-
-
-
-
-
Others
-
-
-
-
-
Total
4,934,392
4,872,653
(61,738)
526,107
587,846
Domestic bonds
3,012,124
2,490,088
(522,035)
7,997
530,033
Domestic stocks
216,426
476,200
259,773
260,085
311
Foreign securities
1,523,366
1,691,488
168,122
211,124
43,002
Foreign bonds
317,155
293,112
(24,043)
2,542
26,585
Foreign stocks, etc.
1,206,210
1,398,375
192,165
208,582
16,416
Other securities
78,828
125,685
46,857
46,857
-
Monetary claims purchased
103,646
89,190
(14,456)
41
14,498
Certificates of deposit
-
-
-
-
-
Others
-
-
-
-
-
Note:
The above table includes assets which are permitted to be treated as equivalent to securities defined in the Financial Instruments and Exchange Act.
The above table excludes stocks and partnerships and so forth without market prices.
Stocks and partnerships and so forth without market prices (Carrying value)
(Millions of yen)
Category | As of March 31, 2025 | As of December 31, 2025 | |
Stocks of subsidiaries and affiliated companies | 6,722 | 6,772 | |
Available-for-sale securities | 24,104 | 23,732 | |
Domestic stocks | 3,767 | 3,762 | |
Foreign stocks | 2,094 | 2,017 | |
Others | 18,242 | 17,952 | |
Total | 30,827 | 30,505 | |
- Taiyo Life Insurance Company