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Meiji Yasuda Life's 9-month net surplus increases YOY

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Meiji Yasuda Life's 9-month net surplus increases YOY

Meiji Yasuda Life Insurance Co. reported a year-over-year rise in net surplus for the nine-month period ended Dec. 31, 2017.

The Japanese insurer said Feb. 15 that consolidated net surplus attributable to the parent company increased to ¥149.38 billion from ¥124.13 billion in the prior-year period.

Ordinary income for the period jumped to ¥3.017 trillion from ¥2.820 trillion, while ordinary profit climbed to ¥248.35 billion from ¥169.99 billion. Operating expenses increased to ¥348.05 billion from ¥318.38 billion.

Insurance premiums and other grew to ¥2.225 trillion from ¥2.113 trillion. Investment income totaled ¥697.97 billion, up from ¥603.94 billion in the year-ago period.

The insurer's provision for policy reserves and other reserves jumped to ¥351.57 billion from ¥279.53 billion.

As of Dec. 31, 2017, Meiji Yasuda Life's consolidated solvency margin ratio stood at 1,011.5%, up from 998.9% as of March 31, 2017.

As of Feb. 15, US$1 was equivalent to ¥106.33.