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9/35 Achievements in Previous Mid-term Management Plan, “New Frontier 2013”
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This page describes challenges and initiatives, and how the results of initiatives are linked to Next Challenge 2017. In New Frontier 2013, the Group made progress in business integration in the Domestic Non-Life Insurance, Domestic Life Insurance, and Overseas businesses and steadily executed initiatives to improve the underwriting balance, especially in voluntary automobile insurance. As a result, the Group has established a structure for making a profit constantly in the Domestic Non-Life Insurance Business, the “mother market.” The combined ratio on a written-to-paid basis, which was 103.0% in FY2010, finally fell below 100% in FY2013. Although the ratio rebounded in FY2014 due to the effect of the heavy snowfalls, the Group hopes to achieve a level of 95% in FY2015. In the past four years, the Group has experienced natural catastrophes, including the Great East Japan Earthquake, the flooding in Thailand, and the heavy snowfalls in February this year. During this period, the Group worked to maintain financial soundness and enhance risk management. Meanwhile, the Domestic Life Insurance Business and the Overseas Business have grown to become major sources of revenue. The Group has invested in the Asian Life Insurance Business, which is expected to grow significantly. We believe that we have established a base for achieving rapid growth in Next Challenge 2017, taking advantage of the achievements described above and economies of scale, or the largest market share in Japan.
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