Tokio Marine Holdings has released its earnings report for the quarter ended June 30, which is considered the first quarter in the international insurer’s financial results reporting.
In the three-month period, Tokio Marine posted a 12.5% increase in the group’s ordinary income – from ¥1.62 trillion in 2022 to ¥1.82 trillion this time around.
Of the ordinary income in Q1, ¥1.47 trillion was underwriting income; ¥317.46 billion, investment income; and ¥38.18 billion, other ordinary income. All three figures were higher compared to their corresponding amounts a year ago.
Ordinary profit, meanwhile, saw a 0.1% decline to ¥171.36 billion. Also, according to Tokio Marine’s summary of its consolidated business results, net income attributable to owners of the parent fell by 1.4% to ¥127.95 billion.
As for the insurer’s adjusted net income, Tokio Marine enjoyed a positive result, which it attributed to robust growth of domestic non-life, fire insurance profitability improvement, expansion of specialty insurance, strong international insurance underwriting, and increase in investment income.
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