Sompo Holdings has announced a 17.7% year-on-year increase in net income for the nine months ending December 2024, reaching $2.53 billion (¥383.4 billion).
The company’s ordinary income surged to $27.39 billion (¥4,151.0 billion), a rise of $1.99 billion (¥302.4 billion) from the previous year. This growth was driven by underwriting income of $21.85 billion (¥3,311.1 billion), investment income of $4.45 billion (¥674.0 billion), and other income of $1.09 billion (¥165.8 billion). Consequently, ordinary profit rose by $0.50 billion (¥76.5 billion), totaling $3.36 billion (¥508.9 billion).
In the domestic property and casualty insurance sector, Sompo saw net premiums written increase by $0.24 billion (¥36.5 billion) to $11.48 billion (¥1,739.5 billion), while net income rose by $0.03 billion (¥4.3 billion) to $1.01 billion (¥153.3 billion).
The company’s overseas insurance division reported a modest increase in net premiums written, reaching $8.34 billion (¥1,264.2 billion), up by $0.07 billion (¥10.3 billion). Net income for the segment rose by $0.41 billion (¥62.4 billion), reaching $1.13 billion (¥170.7 billion).
In the domestic life insurance business, life insurance premiums grew by $0.03 billion (¥4.1 billion) to $1.54 billion (¥232.9 billion), while net income increased by $0.02 billion (¥3.1 billion) to $0.10 billion (¥14.7 billion). The nursing care business posted ordinary income growth of $0.03 billion (¥4.8 billion), totaling $0.90 billion (¥136.3 billion), though it continued to report a net loss of $0.005 billion (¥0.7 billion).
The exchange rate for this report is $1.00 = ¥151.83.
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