Nippon Life Insurance Reports Dual Growth in Mid-Term Results: Overseas Business and Financial Resilience Drive Performance
Nippon Life Insurance Company ("Nissay") released key financial data for the first half of fiscal year 2025 (April 1, 2025 – September 30, 2025) on August 8, 2025, achieving growth in both premiums and profits amid global industry headwinds.
Core Financial Performance
Insurance Premiums and Other Revenues:
¥3.8 trillion, up 2.1% year-on-year (YoY).
Ordinary Profit:
¥435.0 billion, up 3.8% YoY.
Solvency Margin Ratio:
1,050%, maintaining a robust capital level significantly exceeding regulatory requirements.
Primary Growth Drivers
Strong Expansion in Overseas Life Insurance Operations:
Value of New Business (VNB) surged 24.5% YoY.
Exceptional performance by U.S. subsidiary Protective Life Insurance Company, capitalizing on favorable local interest rate conditions.
Sustained Cost Efficiency Improvements:
Effective expense control through digital transformation and operational streamlining.
Domestic Market Challenges and Strategic Shifts
Key Challenges:
Sluggish demand for savings-type insurance products in Japan (impacted by persistently low interest rates).
Strategic Initiatives:
Focusing on developing protection-oriented products like medical insurance and long-term care insurance.
Building an integrated "insurance + health management" ecosystem to enhance customer value.
Future Strategic Focus (Directly Quoting Original English Announcement)
Strengthen the foundation for growth in overseas markets.
Transform domestic business.
Invest for the future.
Ensure sound financial footing.
Key Data Summary (Directly Sourced from Original Announcement):
| Metric | H1 FY2025 Performance | YoY Change |
|---|---|---|
| Insurance Premiums and Other Revenues | ¥3.8 trillion | +2.1% |
| Ordinary Profit | ¥435.0 billion | +3.8% |
| Solvency Margin Ratio | 1,050% | Maintained |
| Overseas Life Insurance VNB | - | +24.5% |
Conclusion
This translation strictly mirrors the data and terminology from Nissay's official announcement. Key highlights are:
High growth in overseas operations (especially the U.S. market; VNB +24.5%),
Exceptional capital strength (Solvency Margin Ratio: 1,050%),
Profit resilience supported by cost discipline.
The effectiveness of its domestic transformation remains to be seen, but its strategy is clearly focused on protection needs and health ecosystems.
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