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Meiji Yasuda Life reports lower fiscal 9-month net surplus YOY

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Meiji Yasuda Life reports lower fiscal 9-month net surplus YOY

Meiji Yasuda Life Insurance Co. reported net surplus attributable to the parent company of ¥155.86 billion for the fiscal nine months ended Dec. 31, 2019, down from ¥165.49 billion in the year-ago period.

Ordinary income for the nine-month period dropped to ¥2.971 trillion from ¥3.130 trillion, while ordinary profit declined to ¥218.76 billion from ¥297.75 billion on a yearly basis.

Investment income for the period also slipped year over year to ¥744.91 billion from ¥728.69 billion. Insurance premiums and other income amounted to ¥2.132 trillion, a decline from ¥2.306 trillion in the prior-year period.

The Japanese life insurer booked impairment losses worth ¥1.50 billion for the period, compared to ¥1.14 billion a year earlier.

As of Feb.13, US$1 was equivalent to ¥109.84.