6-K 1 d6k.htm FORM 6-K Form 6-K
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SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

 

Dated August 10, 2006

 

Commission File Number: 0-31376

 

 

MILLEA HOLDINGS, INC.

(Translation of Registrant’s name into English)

 

 

Tokyo Kaijo Nichido Building Shinkan,

2-1, Marunouchi 1-chome,

Chiyoda-ku, Tokyo 100-0005, Japan

(Address of principal executive offices)

 

 

Indicate by check mark whether the Registrant files or will file

annual reports under cover of Form 20-F or Form 40-F:

Form 20-F  x        Form 40-F  ¨    

 

Indicate by check mark whether the Registrant by furnishing

the information contained in this form is also thereby furnishing

the information to the Commission pursuant to Rule 12g3-2(b) under

the Securities Exchange Act of 1934.

Yes  ¨        No  x    

 

Table of Contents

Table of Documents Submitted

 

Item

    

1.

   Summary of consolidated business results of Millea Holdings, Inc. under Japanese GAAP for the three months ended June 30, 2006, dated August 10, 2006

Table of Contents

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    KABUSHIKI KAISHA MILLEA HOLDINGS
    (Millea Holdings, Inc.)
August 10, 2006   By:  

/s/ TAKASHI ITO

        General Manager,
        Corporate Legal Department

Table of Contents

Item 1

 

(English translation)

 

Summary of consolidated business results of Millea Holdings, Inc. under Japanese GAAP for the three months ended June 30, 2006

 

August 10, 2006

 

Company Name: Millea Holdings, Inc.
Securities Code Number: 8766
Stock Exchange Listings: Tokyo and Osaka
Representative: Kunio Ishihara, President, Millea Holdings, Inc.
Contact: Kazuyuki Nakano, Corporate Planning Dept., Millea Holdings, Inc. Phone: 03-6212-3341
    Noriaki Tashimo, Corporate Accounting Dept., Millea Holdings, Inc. Phone: 03-6212-3344

 

 

1. Matters regarding the presentation of quarterly results

 

Difference in accounting method for recognizing net premiums written: Applicable

 

The recognition policy for net premiums written employed for quarterly figures, such as the inclusion of premiums for insurance contracts which have not started as of June 30, 2006, is different from the recognition policy employed for annual and semi-annual reports.

 

2. Summary of business results for the three months ended June 30, 2006

    (From April 1, 2006 through June 30, 2006)

 

Amounts are truncated and percentages are rounded to the nearest one-tenth of one percent.

 

(1) Net premiums written

          
     Yen in millions
    %

For the three months ended June 30, 2006

    519,942    7.3

For the three months ended June 30, 2005

    484,658    -1.2

(Reference) For the year ended March 31, 2006

    1,978,664    2.8

 

(Note) Percentages show increase or decrease from the same period of the previous year.

 

(Supplementary information regarding net premiums written)

 

Net premiums written for the period of three months ended June 30, 2006 increased by 7.3% from the same period in 2005, mainly due to Tokio Marine & Nichido’s 1.6 % growth in automobile and fire insurance, revenue growth of other consolidated subsidiaries, as well as an increase in the number of consolidated subsidiaries.

 

(2) Matters that had a significant effect on financial conditions and results of operations for the three months ended June 30, 2006

 

None.

 

3. Forecast of business results for the year ending March 31, 2007

    (From April 1, 2006 through March 31, 2007)

 

No changes.

Table of Contents

<Consolidated results>

 

Premiums written and claims paid by lines of insurance

 

Direct premiums written (including funds for deposit-type insurance)

 

     (Yen in millions, %)
    

For the three months ended June 30, 2006

(From April 1, 2006 to June 30, 2006)

   

For the three months ended June 30, 2005

(From April 1, 2005 to June 30, 2005)

   

(Reference)

Year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

     Premiums
    Increase/
decrease
    Composition
    Premiums
    Increase/
decrease
    Composition
    Premiums
    Increase/
decrease
    Composition

Fire

    87,974    5.0    14.2    83,793    7.0    14.3    366,172    4.9    16.5

Marine

    22,584    10.1    3.6    20,509    9.5    3.5    85,449    8.8    3.9

Personal accident

    103,438    0.8    16.7    102,617    13.5    17.5    327,762    0.5    14.8

Automobile

    251,560    9.0    40.5    230,876    -0.5    39.3    892,401    2.7    40.3

Compulsory automobile liability (CALI)

    90,333    2.3    14.5    88,309    -4.5    15.0    292,183    -3.6    13.2

Others

    65,241    7.0    10.5    60,951    -1.9    10.4    251,779    -0.3    11.4
    
  
  
  
  
  
  
  
  

Total

    621,132    5.8    100.0    587,059    2.2    100.0    2,215,748    1.7    100.0

Fund for deposit-type insurance

    69,846    0.5    11.2    69,505    22.9    11.8    225,090    -0.8    10.2

Net premiums written

                                   
     (Yen in millions, %)
    

For the three months ended June 30, 2006

(From April 1, 2006 to June 30, 2006)

   

For the three months ended June 30, 2005

(From April 1, 2005 to June 30, 2005)

   

(Reference)

Year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

     Premiums
   

Increase/

decrease

    Composition
    Premiums
   

Increase/

decrease

    Composition
    Premiums
   

Increase/

decrease

    Composition

Fire

    68,587    23.9    13.2    55,343    -9.6    11.4    289,645    10.1    14.6

Marine

    18,973    8.5    3.6    17,481    8.3    3.6    80,253    9.7    4.1

Personal accident

    45,271    1.9    8.7    44,440    1.5    9.2    151,734    0.5    7.7

Automobile

    249,645    8.5    48.0    230,186    -0.2    47.5    887,051    3.0    44.8

CALI

    73,753    -3.1    14.2    76,126    -3.4    15.7    316,500    -3.8    16.0

Others

    63,710    4.3    12.3    61,080    1.8    12.6    253,478    2.3    12.8
    
  
  
  
  
  
  
  
  

Total

    519,942    7.3    100.0    484,658    -1.2    100.0    1,978,664    2.8    100.0
    
  
  
  
  
  
  
  
  

Net claims paid

                                             
     (Yen in millions, %)
    

For the three months ended June 30, 2006

(From April 1, 2006 to June 30, 2006)

   

For the three months ended June 30, 2005

(From April 1, 2005 to June 30, 2005)

   

(Reference)

Year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

     Claims paid
   

Increase/

decrease

    Composition
    Claims paid
   

Increase/

decrease

    Composition
    Claims paid
   

Increase/

decrease

    Composition

Fire

    27,607    -17.5    9.6    33,476    96.7    12.3    123,788    -34.3    11.1

Marine

    10,690    31.6    3.7    8,126    28.1    3.0    40,519    10.3    3.6

Personal accident

    18,065    12.9    6.3    16,002    -7.1    5.9    64,881    6.1    5.8

Automobile

    139,201    7.8    48.6    129,140    5.1    47.6    535,300    1.7    47.9

CALI

    55,862    3.7    19.5    53,887    26.7    19.9    222,601    15.9    19.9

Others

    35,171    14.7    12.3    30,670    -2.3    11.3    130,345    -6.5    11.7
    
  
  
  
  
  
  
  
  

Total

    286,597    5.6    100.0    271,304    14.3    100.0    1,117,437    -2.3    100.0
    
  
  
  
  
  
  
  
  

 

(Note) Figures are after elimination of inter-segment transactions.

Table of Contents

<Consolidated results>

 

Securities

 

     (Yen in millions)
     As of June 30, 2006
    As of June 30, 2005
   

(Reference)

As of March 31, 2006

     Acquisition cost
    Market value
    Difference
    Acquisition cost
    Market value
    Difference
    Acquisition cost
    Market value
    Difference

Bonds

    2,791,874    2,721,851    -70,023    2,576,373    2,610,136    33,763    3,233,624    3,204,171    -29,452

Stocks

    1,156,160    3,955,857    2,799,696    1,178,370    2,917,607    1,739,236    1,155,589    4,288,807    3,133,218

Foreign securities

    641,481    675,796    34,315    559,531    573,599    14,067    621,284    659,988    38,704

Others

    288,383    311,244    22,860    241,339    259,910    18,571    276,184    303,760    27,576
    
  
  
  
  
  
  
  
  

Total

    4,877,899    7,664,748    2,786,849    4,555,614    6,361,253    1,805,639    5,286,681    8,456,728    3,170,046
    
  
  
  
  
  
  
  
  

 

(Note 1)   The table above shows securities with market value other than (a) trading securities and (b) debt securities held to maturity with market value.
(Note 2)   Acquisition costs as of June 30, 2005 and June 30, 2006 are not amortized and impairment losses are not recognized. Acquisition costs as of March 31, 2006 are amortized and impairment losses have been recognized.
(Note 3)   Market values are based on various considerations including quoted prices at the end of the month.
(Note 4)   The table above includes foreign mortgage securities as well as securities on the balance sheet.

Table of Contents

<Consolidated results>

 

Derivative financial instruments

 

     (Yen in millions)
     As of June 30, 2006
    As of June 30, 2005
   

(Reference)

As of March 31, 2006

    

Contract

amount

   

Market

value

   

Unrealized

gain or loss

   

Contract

amount

   

Market

value

   

Unrealized

gain or loss

   

Contract

amount

   

Market

value

   

Unrealized

gain or loss

Foreign currency-related instruments

                                             

Foreign exchange forwards

                                             

Short

    203,977    -2,788    -2,788    244,160    -3,298    -3,298    268,306    -3,731    -3,731

Long

    13,639    467    467    51,623    764    764    71,637    754    754

Currency options

                                             

Short

    47,569              33,868              30,938          
     859    1,233    -374    336    601    -264    735    1,198    -463

Long

    41,858              42,962              21,722          
     543    1,114    571    395    811    416    389    912    522

Currency swaps

    1,294,801    -12,264    -12,264    1,017,829    -2,923    -2,923    1,210,264    -13,219    -13,219
    
  
  
  
  
  
  
  
  

Interest rate-related instruments

                                             

Interest forward

                                             

Short

    69,977    -88    -88    38,719    -14    -14    8,246    1    1

Long

    179,251    -46    -46    138,444    6    6    76,294    -5    -5

Interest forward options

                                             

Long

    42,376              26,057              —            
     4    2    -2    1    1    -0    —      —      —  

Interest options

                                             

Short

    304,866              463,637              293,919          
     2,041    4,146    -2,104    1,361    826    535    1,731    3,837    -2,105

Long

    98,770              65,066              88,341          
     548    1,307    759    461    147    -313    519    510    -9

Interest rate swap

    11,149,159    -5,064    -5,064    9,068,083    65,236    65,236    10,572,909    12,749    12,749
    
  
  
  
  
  
  
  
  

Equity-related instruments

                                             

Equity index futures

                                             

Short

    32,404    -806    -806    26,273    -253    -253    33,711    -1,653    -1,653

Long

    15,180    495    495    25,478    233    233    6,418    12    12

Equity index options

                                             

Short

    35,544              66,817              12,119          
     554    -1,612    2,166    879    -544    1,424    222    -1,912    2,135

Long

    78,254              61,110              42,326          
     8,032    4,244    -3,788    1,064    -283    -1,347    7,273    4,171    -3,102

Equity options

                                             

Short

    470              509              2,815          
     16    10    5    21    16    5    82    41    40

Long

    470              680              2,815          
     8    10    2    43    50    6    48    41    -6
    
  
  
  
  
  
  
  
  

Bond-related instruments

                                             

Bond futures

                                             

Short

    43,229    235    235    70,656    -197    -197    32,557    324    324

Long

    37,092    -161    -161    85,965    377    377    33,539    -275    -275

Bond futures options

                                             

Short

    6,450              98,322              33,012          
     4    3    0    97    83    14    12    12    -0

Long

    —                40,673              9,243          
     —      —      —      124    128    3    17    13    -4

Over-the-counter bond options

                                             

Short

    212,994              191,290              83,846          
     771    632    138    292    393    -100    150    250    -99

Long

    98,138              19,543              31,752          
     769    493    -275    30    0    -29    100    182    81
    
  
  
  
  
  
  
  
  

Weather-related instruments

                                             

Weather derivatives

                                             

Short

    2,565              2,013              2,216          
     121    269    -147    113    63    49    93    -87    181
    
  
  
  
  
  
  
  
  

Credit-related instruments

                                             

Credit derivatives

                                             

Short

    901,599    2,254    2,254    1,561,742    2,304    2,304    1,034,201    1,130    1,130

Long

    199,880    -1,557    -1,557    324,128    -4,111    -4,111    309,174    -1,760    -1,760
    
  
  
  
  
  
  
  
  

Commodity

                                             

Commodity options

                                             

Short

    1              —                3          
     2    0    1    —      —      —      2    0    1

Long

    1              —                3          
     1    0    -1    —      —      —      1    0    -0

Commodity swap

    80,774    756    756    82,420    1,193    1,193    81,648    1,012    1,012
    
  
  
  
  
  
  
  
  

Others

                                             

Inflation indexed bonds

    —                9,400              —            
     —      —      —      712    508    -204    —      —      —  
    
  
  
  
  
  
  
  
  

Total

    15,191,302    -6,710    -21,614    13,857,477    62,120    59,510    14,393,991    4,512    -7,491
    
  
  
  
  
  
  
  
  

 

(Note 1)   Option premiums are shown beneath the contract amounts for currency options, interest forward options, interest options, equity index options, equity options, bond futures options, over-the-counter bond options and weather derivatives and acqusition cost is shown beneath the contract amounts for inflation indexed bonds.
(Note 2)   The synthetic option is classified into transactions such as short or long by receiving or paying option premium at the time of the contract.
(Note 3)   Forward transactions translated at contracted rate, the relating forward contracts of which qualify for hedge accounting, are not included.

Table of Contents

<Reference>

 

Non-consolidated results of Tokio Marine & Nichido

 

Direct premiums written (including funds for deposit-type insurance)

 

     (Yen in millions, %)
    

For the three months ended June 30, 2006

(From April 1, 2006 to June 30, 2006)

   

For the three months ended June 30, 2005

(From April 1, 2005 to June 30, 2005)

   

(Reference)

Year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

     Premiums
   

Increase/

decrease

    Composition
    Premiums
   

Increase/

decrease

    Composition
    Premiums
   

Increase/

decrease

    Composition

Fire

    82,850    1.5    14.1    81,644    6.7    14.2    352,354    3.2    16.4

Marine

    19,134    9.0    3.2    17,560    6.5    3.0    73,624    7.7    3.4

Personal accident

    102,877    0.4    17.5    102,440    13.5    17.8    326,347    0.3    15.2

Automobile

    233,866    1.9    39.7    229,462    -0.6    39.8    864,342    0.1    40.3

Compulsory automobile liability (CALI)

    90,333    2.3    15.3    88,309    -4.5    15.3    292,183    -3.6    13.6

Others

    60,051    4.9    10.2    57,257    -2.3    9.9    238,134    -1.3    11.1
    
  
  
  
  
  
  
  
  

Total

    589,113    2.2    100.0    576,675    2.0    100.0    2,146,986    0.2    100.0

Fund for deposit-type insurance

    69,846    0.5    11.9    69,505    22.9    12.1    225,090    -0.8    10.5

 

Net premiums written

                              
     (Yen in millions, %)
    

For the three months ended June 30, 2006

(From April 1, 2006 to June 30, 2006)

   

For the three months ended June 30, 2005

(From April 1, 2005 to June 30, 2005)

   

(Reference)

Year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

       Premiums  
   

  Increase/  

decrease

      Composition  
      Premiums  
   

  Increase/  

decrease

      Composition  
    Premiums
   

Increase/

decrease

    Composition

Fire

    50,017    3.4    10.5    48,352    -12.2    10.3    255,199    3.9    13.5

Marine

    16,043    9.8    3.4    14,617    3.2    3.1    69,987    7.6    3.7

Personal accident

    44,397    0.8    9.3    44,062    1.3    9.4    149,715    0.1    7.9

Automobile

    232,565    2.0    49.0    228,044    -0.3    48.8    858,279    0.5    45.3

CALI

    73,753    -3.1    15.5    76,126    -3.4    16.3    316,500    -3.8    16.7

Others

    58,216    3.6    12.3    56,203    -0.4    12.0    243,071    1.2    12.8
    
  
  
  
  
  
  
  
  

Total

    474,993    1.6    100.0    467,407    -1.9    100.0    1,892,754    0.5    100.0
    
  
  
  
  
  
  
  
  

 

Net claims paid

                                             
     (Yen in millions, %)
    

For the three months ended June 30, 2006

(From April 1, 2006 to June 30, 2006)

   

For the three months ended June 30, 2005

(From April 1, 2005 to June 30, 2005)

   

(Reference)

Year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

     Claims paid
    Increase/
decrease
    Composition
    Claims paid
    Increase/
decrease
    Composition
    Claims
paid
    Increase/
decrease
    Composition

Fire

    23,788    -25.6    8.8    31,955    73.6    12.0    110,889    -38.9    10.3

Marine

    9,184    22.8    3.4    7,481    32.8    2.8    37,368    9.7    3.5

Personal accident

    17,754    11.7    6.6    15,887    -6.9    5.9    63,804    5.8    5.9

Automobile

    128,886    0.7    47.8    127,942    5.0    47.9    515,892    -1.1    47.9

CALI

    55,862    3.7    20.7    53,887    26.7    20.2    222,601    15.9    20.7

Others

    34,080    14.0    12.6    29,883    -3.0    11.2    127,075    -4.8    11.8
    
  
  
  
  
  
  
  
  

Total

    269,556    0.9    100.0    267,038    13.0    100.0    1,077,632    -4.0    100.0
    
  
  
  
  
  
  
  
  

 

(Note 1) Increase/decrease for the three months ended June 30, 2005 and increase/decrease for the year ended March 31, 2006 are the comparison with the total amount of “Tokio Marine” and “Nichido Fire” before the merger.

Table of Contents

<Reference>

 

Tokio Marine & Nichido Life

 

Policies in force

 

     (Yen in millions except number of policies, %)

Numbers of policies

    As of June 30, 2006
    As of June 30, 2005
   

(Reference)

As of March 31, 2006

          Increase/decrease
          

Individual insurance

    1,864,262    113.9    1,636,070    1,820,891

Medical and cancer

    759,268    121.4    625,548    735,275

Individual annuities

    240,811    106.8    225,569    237,336
    
  
  
  

Total

    2,105,073    113.1    1,861,639    2,058,227
    
  
  
  

Policy amount in force

    As of June 30, 2006
    As of June 30, 2005
   

(Reference)

As of March 31, 2006

          Increase/decrease
          

Individual insurance

    11,983,418    110.3    10,864,721    11,772,941

Individual annuities

    955,040    106.6    896,039    941,255

Group insurance

    3,354,302    100.4    3,340,503    3,326,214

Group annuities

    9,590    86.6    11,077    10,847

Annualized premiums

    As of June 30, 2006
    As of June 30, 2005
   

(Reference)

As of March 31, 2006

          Increase/decrease
          

Individual insurance

    219,368    109.9    199,582    216,380

Medical coverage and accelerated death benefits

    57,389    121.3    47,298    56,288

Medical and cancer

    39,699    138.9    28,585    38,334

Individual annuities

    74,858    107.2    69,863    73,668
    
  
  
  

Total

    294,227    109.2    269,446    290,049
    
  
  
  

New policies

                    
     (Yen in millions except number of policies, %)

Numbers of policies

   

For the three months ended

June 30, 2006

   

For the three months ended

June 30, 2005

   

(Reference)

For the year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

          Increase/decrease
          

Individual insurance

    70,977    101.1    70,180    331,599

Medical and cancer

    36,046    97.2    37,072    176,884

Individual annuities

    5,385    44.2    12,176    30,498
    
  
  
  

Total

    76,362    92.7    82,356    362,097
    
  
  
  

Policy amount in force

   

For the three months ended

June 30, 2006

   

For the three months ended

June 30, 2005

   

(Reference)

For the year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

          Increase/decrease
          

Individual insurance

    436,380    104.4    417,992    1,936,525

Individual annuities

    21,904    42.2    51,925    125,964

Group insurance

    13,628    46.2    29,513    93,718

Group annuities

    —      —      —      —  

Annualized premiums

   

For the three months ended

June 30, 2006

   

For the three months ended

June 30, 2006

   

(Reference)

For the year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

          Increase/decrease
          

Individual insurance

    7,122    110.8    6,427    34,600

Medical coverage and accelerated death benefits

    2,097    103.2    2,032    13,537

Medical and cancer

    2,023    104.4    1,936    13,143

Individual annuities

    1,821    36.6    4,975    11,079
    
  
  
  

Total

    8,944    78.4    11,402    45,680
    
  
  
  

 

Premiums written and claims paid

 

                    
     (Yen in millions, %)
    

For the three months ended

June 30, 2006

   

For the three months ended

June 30, 2006

   

(Reference)

For the year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

          Increase/decrease
          

Premiums written

    87,793    88.5    99,236    377,591

Claims paid

    27,245    126.9    21,470    102,720

 

(Note 1) Since medical and cancer insurance products sold by Tokio Marine & Nichido Life do not have death coverage, they are not included in policy amount in force.

 

(Note 2) Annualized premiums are the premiums divided by the duration of insurance policies to show the amount of premiums per year.

 

(Note 3) “Medical coverage and accelerated death benefits” include coverage for medical expense (hospitalization and operation), accelerated death benefits (specific diseases and nursing care) and exemption of obligation to pay insurance premium (excluding those caused by disability but including those caused by specific diseases and nursing care). These include coverage by special clauses attached to insurance products other than medical and cancer insurance. Annualized premiums for “Medical coverage and accelerated death benefits” included in the death coverage of certain insurance products are categorized as “Medical coverage and accelerated death benefits”.

Table of Contents

<Reference>

 

Tokio Marine & Nichido Financial Life

 

Policies in force

                    
     (Yen in millions except number of policies, %)

Numbers of policies

    As of June 30, 2006
    As of June 30, 2005
   

(Reference)

As of March 31, 2006

          Increase/decrease
          

Individual insurance

    44,135    96.3    45,812    44,499

Individual annuities

    124,624    439.2    28,372    87,857
    
  
  
  

Total

    168,759    227.5    74,184    132,356
    
  
  
  

Policy amount in force

    As of June 30, 2006
    As of June 30, 2005
   

(Reference)

As of March 31, 2006

          Increase/decrease
          

Individual insurance

    359,715    97.4    369,440    371,965

Individual annuities

    865,713    413.5    209,369    683,202

Group insurance

    —      —      —      —  

Group annuities

    —      —      —      —  

Annualized premiums

    As of June 30, 2006
    As of June 30, 2005
   

(Reference)

As of March 31, 2006

          Increase/decrease
          

Individual insurance

    5,079    97.0    5,239    5,101

Individual annuities

    79,554    466.6    17,050    57,474
    
  
  
  

Total

    84,634    379.7    22,289    62,575
    
  
  
  

New policies

     
     (Yen in millions except number of policies, %)

Numbers of policies

   

For the three months ended

June 30, 2006

   

For the three months ended

June 30, 2005

   

(Reference)

For the year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

          Increase/decrease
          

Individual insurance

    127    230.9    55    317

Individual annuities

    37,162    903.3    4,114    64,822
    
  
  
  

Total

    37,289    894.4    4,169    65,139
    
  
  
  

Policy amount in force

   

For the three months ended

June 30, 2006

   

For the three months ended

June 30, 2005

   

(Reference)

For the year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

          Increase/decrease
          

Individual insurance

    1,244    225.1    553    2,536

Individual annuities

    221,365    674.7    32,809    434,702

Group insurance

    —      —      —      —  

Group annuities

    —      —      —      —  

Annualized premiums

   

For the three months ended

June 30, 2006

   

For the three months ended

June 30, 2005

   

(Reference)

For the year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

          Increase/decrease
          

Individual insurance

    75    398.8    18    136

Individual annuities

    21,921    708.8    3,092    42,736
    
  
  
  

Total

    21,996    706.9    3,111    42,872
    
  
  
  
Premiums written and claims paid                    
     (Yen in millions, %)
    

For the three months ended

June 30, 2006

   

For the three months ended

June 30, 2005

   

(Reference)

For the year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

          Increase/decrease
          

Premiums written

    229,766    585.7    39,228    466,072

Claims paid

    5,669    144.2    3,933    18,824

 

(Note  1) Annualized premiums are the premiums divided by the duration of insurance policies to show the amount of premiums per year.