Balance of life insurance contracts of 10 insurers fall 2.8%+.TOKYO, Nov. 27 Kyodo The combined balance of life insurance contracts held by Japan's 10 major life insurance firms fell 2.8% as of Sept. 30 from a year before to 1,212.53 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. yen, with policy cancellations outpacing newly concluded contracts, the insurers said Monday. The balance at a parent level was computed by adding up the combined values of individual life insurance contracts and pension insurance contracts, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. their financial results for the April-September first half of fiscal 2000. The 10 companies blamed the growing cancellations on the impact of the protracted pro·tract tr.v. pro·tract·ed, pro·tract·ing, pro·tracts 1. To draw out or lengthen in time; prolong: disputants who needlessly protracted the negotiations. 2. economic slump Slump A temporary fall in performance, often describing consistently falling security prices for several weeks or months. . Their combined premium income -- which corresponds to sales at nonfinancial businesses -- inched up 0.2% to a combined 11.03 trillion yen. The 10 are Nippon Life Insurance Co., Sumitomo Life Insurance Co., Yasuda Mutual Life Insurance Co., Meiji Life Insurance Co., Mitsui Mutual Life Insurance Co., Asahi Mutual Life Insurance Co Asahi Mutual Life Insurance Company (朝日生命保険相互会社 Asahi Seimei Hoken Sōgo-kaisha) is a Japanese insurance company. External links
Of the 10, only Nippon Life, Dai-ichi Mutual and Meiji Life saw premiums rise, with the remaining seven suffering premium income drops ranging from 0.7% to 11.2%. The combined losses from a negative spread between the insurers' ''guaranteed yields'' and their investment returns are expected to amount to 1.39 trillion yen as of March 31, 2001, according to the 10 firms' projections. The guaranteed yield is the annual yield an insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. pledges to earn through investment of premiums collated from policyholders. The yield is passed on to policyholders in the form of a discount in premiums, rather than in the form of dividends. A negative spread stems from a gap between a guaranteed yield and the investment return. Their combined projected loss from such negative spreads for fiscal 2000 is almost unchanged from fiscal 1999, the 10 said, a consequence of the severe operating environment In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. . The following table summarizes the results of Japan's 10 major life insurers in billions of yen in the first half of fiscal 2000. The first column shows figures for contract balance, the second premium income, the third negative spread-induced losses. The fourth column shows each insurer's solvency The ability of an individual to pay his or her debts as they mature in the normal and ordinary course of business, or the financial condition of owning property of sufficient value to discharge all of one's debts. solvency n. margin ratio as of Sept. 30 in terms of percentages. Figures in parentheses See parenthesis. parentheses - See left parenthesis, right parenthesis. denote de·note tr.v. de·not·ed, de·not·ing, de·notes 1. To mark; indicate: a frown that denoted increasing impatience. 2. year-on-year percentage changes. The parenthesized solvency margin ratios are those as of March 31, 2000. The figures for negative spread-induced losses are estimates as of the March 31 end of fiscal 2000.
Balance of Premium Negative Solvency
Insurance Income Spread Margin
Contracts Loss Ratio
Nippon 321,322.8 2,872.8 390.0 1,030
(-3.3) (1.6) (1,095)
Dai-ichi 229,405.7 1,870.3 240.0 755
(-2.1) (6.6) (865)
Sumitomo 213,070.4 1,578.2 200.0 610
(-2.9) (-2.1) (675)
Meiji 127,645.0 1,161.1 150.0 690
(-3.5) (5.5) (731)
Asahi 86,070.6 683.4 130.0 634
(-4.1) (-3.0) (732)
Yasuda 75,139.8 757.0 79.0 703
(-2.9) (-3.0) (808)
Mitsui 68,759.1 647.1 81.0 501
(-4.4) (-0.7) (676)
Taiyo 15,286.1 553.7 73.0 980
(1.3) (-5.8) (1,050)
Daido 39,015.8 532.8 14.0 883
(-0.3) (-11.2) (1,004)
Fukoku 36,818.8 369.5 31.0 810
(1.1) (-3.6) (906)
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Total 1,212,534.2 11,025.9 1,388.0 ----
(-2.8) (0.2)
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