Asahi Life’s Core Profit Jumps 67.7% in H1 2024

Asahi Life has witnessed a remarkable surge in its first half of 2024 group core profit, which soared 67.7% year-on-year to $145.6 million. This growth was mainly propelled by higher interest and dividend income from alternative investments and a significant reduction in foreign exchange hedging costs. The core profit increase was also due to a reduction in negative spreads.

However, the positive momentum was partly offset by a 17.8% decline in insurance-related results. Consolidated group insurance premium income did see a 2.8% rise, with contributions from both Asahi Life and Nanairo Life. Looking forward, Asahi Life has set its sights on enhancing profits in protection-type products and maintaining a specific ESR range in the coming years.

For the fiscal year ending March 2025, the group anticipates a flat insurance premium income but expects modest growth in core profit, supported by continued earnings from interest and dividend income. New product launches like the early-stage nursing care lump-sum payment rider are predicted to boost future sales, according to CreditSights, signaling an active approach by Asahi Life to sustain and expand its business in the competitive insurance market.

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