Among Japan's four largest private sector life insurers, Nippon Life Insurance Co. was the only one that posted higher net profit for the quarter ended Sept. 30, compared to the prior-year period. This was however enough to pull the aggregate net income for all four insurers up to ¥207.44 billion, a 1.34% rise from ¥204.70 billion previously.
Nippon Life's net income rose to ¥68.72 billion from ¥56.21 billion, while the net income of Dai-ichi Life Insurance Co. Ltd., Meiji Yasuda Life Insurance Co. and Sumitomo Life Insurance Co. dropped year over year in the fiscal second quarter.
Three of the insurers recorded an increase in premium income in the same period save for Sumitomo Life, whose premium income fell 22.86% to ¥720.85 billion, from ¥934.49 billion previously.
The combined operating income of all four companies rose 3.30% year over year to ¥5.565 trillion, from ¥5.387 trillion, due mainly to an 8.87% aggregate rise in net ordinary investment income.

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As of Dec. 4, US$1 was equivalent to ¥112.82.

