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Tokio Marine reports YOY increase in fiscal Q1 income

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Tokio Marine reports YOY increase in fiscal Q1 income

Tokio Marine Holdings Inc. reported fiscal first-quarter net income attributable to owners of ¥101.74 billion, up 15.5% compared to ¥88.11 billion a year ago, due to the increased gains on sales of securities at home and profit expansion abroad.

EPS was ¥140.24 versus ¥117.44.

Ordinary profit for the quarter rose year over year to ¥138.06 billion from ¥123.64 billion, while ordinary income declined to ¥1.398 trillion from ¥1.400 trillion.

Underwriting income increased to ¥1.192 trillion from ¥1.179 trillion. Net premiums written were also up, reaching ¥920.89 billion in the most recent quarter, compared with ¥919.34 billion a year ago, driven by an increase at overseas subsidiaries exceeding the impact of the appreciation of the yen.

Investment income fell to ¥176.86 billion from ¥193.82 billion, while gains on sales of securities rose to ¥53.12 billion from ¥38.53 billion.

Unit Tokio Marine & Nichido Fire Insurance Co. Ltd. reported nonconsolidated net income of ¥77.50 billion, down from ¥120.11 billion posted a year ago. Nonconsolidated net income at Tokio Marine & Nichido Life Insurance Co. Ltd. was ¥4.56 billion, compared to ¥2.52 billion in the year-ago period.

As of Aug. 9, US$1 was equivalent to ¥110.94.