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Earnings roundup: Dai-ichi Life, Tokio Marine book higher earnings YOY

With earnings season in gear, S&P Global Market Intelligence presents a snapshot of recently reported financial results for companies in the insurance space.

Life and health

Dai-ichi Life Holdings Inc.'s net income attributable to shareholders of the parent company in the quarter ended June 30 rose 24.9% to ¥51.77 billion from ¥41.44 billion a year ago.

EPS increased year over year to ¥45.23 from ¥35.54. Ordinary revenues rose 8.5% to ¥1.830 trillion from ¥1.688 trillion. Ordinary profit jumped 29.1% to ¥105.09 billion from ¥81.40 billion.

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Japan Post Insurance Co. Ltd.'s net income attributable to the company for the fiscal quarter ended June 30 fell 0.9% to ¥33.78 billion from ¥34.09 billion a year earlier.

Net income per share increased year over year to ¥59.59 from ¥56.83. Ordinary profit dropped 25.6% to ¥56.00 billion from ¥75.25 billion, and ordinary income fell 8.1% to ¥1.819 trillion from ¥1.979 trillion.

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Sumitomo Life Insurance Co. logged a net loss attributable to the parent company for the fiscal quarter ended June 30 of ¥3.41 billion, versus a surplus of ¥9.17 billion a year ago.

Ordinary income dropped year over year to ¥880.07 billion from ¥884.14 billion. Ordinary profit slid to ¥4.34 billion from ¥40.48 billion.

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Meiji Yasuda Life Insurance Co. posted a 29.3% year-over-year decline in net profit for the quarter ended June 30, as premiums and investment income fell.

The insurer's fiscal first-quarter net surplus attributable to the parent fell to ¥30.81 billion from ¥43.55 billion in the prior-year period.

Ordinary income dropped to ¥991.84 billion from ¥1.052 trillion, and ordinary profit fell to ¥42.47 billion from ¥75.68 billion.

Property and casualty

Tokio Marine Holdings Inc.'s net income for the fiscal quarter grew 10.8% from a year earlier, thanks to a decline in natural catastrophes in Japan and growth in its overseas business.

For the three months ended June 30, net income attributable to owners of the parent rose to ¥112.71 billion from ¥101.74 billion in the prior-year period. EPS rose year over year to ¥159.46 from ¥140.24.

Ordinary income fell slightly to ¥1.394 trillion from ¥1.398 trillion, while ordinary profit gained 8.7% to ¥150.06 billion from ¥138.06 billion.

Meanwhile, Tokio Marine & Nichido Fire Insurance Co. Ltd.'s net income rose to ¥79.17 billion from ¥77.50 billion.

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Sompo Holdings Inc.'s net income for the fiscal first quarter ended June 30 declined 44.9% year over year on higher impairment losses.

The insurer's consolidated net income attributable to shareholders fell to ¥30.56 billion from ¥55.51 billion in the year-ago period. EPS dropped to ¥82.15 from ¥146.89.

Ordinary profit for the quarter fell to ¥42.90 billion from ¥72.77 billion, while ordinary income rose to ¥1.017 trillion from ¥993.99 billion.

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Samsung Fire & Marine Insurance Co. Ltd.'s second-quarter net profit dropped 46.4% to 195.3 billion South Korean won from 364.5 billion won a year ago.

EPS was 4,903 won, compared to 9,152 won.

As of Aug. 8, US$1 was equivalent to ¥106.13 and 1,207.19 South Korean won.