Life Insurance Operations (Tables)

12 Months Ended

Mar. 31, 2022

Life Insurance Premiums and Related Investment Income

Life insurance premiums and related investment income in fiscal 2020, 2021 and 2022 consist of the following:


	Millions of yen
	2020		2021		2022
Life insurance premiums	¥	360,583	¥	403,799	¥	431,289
Life insurance related investment income*		7,195		83,751		50,521

	¥	367,778	¥	487,550	¥	481,810

*	Life insurance related investment income in fiscal 2020, 2021 and 2022 include net unrealized holding losses of ¥ 13,122 million and gains of ¥ 61,351 million and ¥ 8,004 million on equity securities held as of March 31, 2020, 2021 and 2022, respectively.

Reinsurance Benefits and Reinsurance Premiums Included in Life Insurance Premiums

Life insurance premiums include reinsurance benefits, net of reinsurance premiums. For fiscal 2020, 2021 and 2022, reinsurance benefits and reinsurance premiums included in life insurance premiums are as follows:


	Millions of yen
	2020			2021			2022
Reinsurance benefits	¥	3,268		¥	2,333		¥	2,744
Reinsurance premiums		(5,395	)		(5,196	)		(4,498	)

Gains or Losses Relating to Variable Annuity and Variable Life Insurance Contracts

The above mentioned gains or losses relating to variable annuity and variable life insurance contracts for fiscal 2020, 2021 and 2022 are mainly as follows:


	Millions of yen
	2020			2021			2022
Life insurance premiums and related investment income :
Net realized and unrealized gains or losses from investment assets	¥	(10,798	)	¥	76,470		¥	8,501
Net gains or losses from derivative contracts :		1,667			(10,271	)		(1,520	)
Futures		1,257			(9,412	)		(1,075	)
Foreign exchange contracts		8			(261	)		(445	)
Options held		402			(598	)		0
Life insurance costs :
Changes in the fair value of the policy liabilities and policy account balances	¥	(58,244	)	¥	(35,565	)	¥	(67,984	)
Insurance costs recognized for insurance and annuity payouts as a result of insured events		53,442			77,631			69,727
Changes in the fair value of the reinsurance contracts		(5,757	)		11,909			1,083