131203MSAD_e
12/26 Coping with Issues (1) Improving Underwriting Balance in the Domestic Non-life Insurance Business
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00:08:58.6
Now let me describe how we have dealt with the issues in New Frontier 2013. Please look at page 9. Since the establishment of the Group, we have prioritized improving profitability in the Domestic Non-Life Insurance Business. We have made Group-wide efforts on this. In FY2011, earnings declined significantly due to the Great East Japan Earthquake and heavy flooding in Thailand. During that period, we worked to review insurance products and premium rates, especially in auto insurance, and all Group employees and agencies took various initiatives to prevent accidents and to lower the loss ratio. As a result, we expect that underwriting balance will move into the black at the end of this fiscal year. Although there will be factors that will put downward pressure on profits from the next fiscal year, such as a consumption tax hike, we will promote these initiatives to secure stable underwriting profits.
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