MS&AD_en

2/22 Summary of First Half FY2012 Financial Results (MS&AD Holdings, Consolidated)

• 00:01:46.2   Please turn to page 1. First, I will summarize our financial results for the first half of FY2012. Net premiums written in the first half of FY2012 rose ￥35.2 billion, or 2.7% year on year, to ￥1,340.4 billion. The primary factors for this increase are the effects of MSI and ADI rate revisions in auto insurance, their mainstay, in FY2010 and FY2011, and an increase in revenue in compulsory automobile liability insurance. An increase in the number of vehicles insured by MSI is another factor. Net premiums written at overseas subsidiaries rose in local currencies, but declined in yen due to the appreciation of the yen. Net income fell ￥16.5 billion year on year, for a net loss of ￥9.4 billion. The main factors for this were the posting of ￥124.4 billion in losses on the devaluation of securities, primarily due to declines in the stock market; and the effects of a reduction in tax not being taken into consideration, although reversals of catastrophe reserves associated with insurance claim payments, mainly for the flooding in Thailand, increased. Net income by company is shown in the table in the lower right-hand corner of the page.