Q3 2026 T&D Holdings Inc Earnings Call Transcript
Key Points
- Group adjusted profit reached JPY122.5 billion, achieving 83.9% of the full-year forecast, indicating steady progress.
- Sales results of new policies for all three life insurance companies progressed smoothly against the plan.
- Value of new business for the three life insurance companies amounted to JPY144.3 billion, with a progress rate of 85.9%.
- Group MCEV increased by JPY451.7 billion, driven by new business value accumulation and rising stock prices.
- Interest rate matching ratios for Daido Life and Taiyo Life reached 86.4% and 96.6%, respectively, showing strong asset-liability management.
- T&D United Capital's adjusted profit decreased by JPY5 billion year-on-year.
- Taiyo Life recorded losses on sales associated with the reduction of its foreign bond holdings.
- Surrender and lapse rates increased in Taiyo Life, particularly in the bancassurance OTC channel.
- Annualized premiums of new policies at T&D Financial Life declined year-on-year due to lower sales of foreign currency-linked products.
- ESR declined to 225% from the previous fiscal year-end, reflecting increased mass surrender risks due to higher domestic interest rates.
Hello. This is Ito from IR Department of T&D Holdings. Thank you very much for coming to the telephone conference of our financial results. Our materials are under our website on the Investor Relations under IR Events tab. First of all, I will be making approximately 10 minutes of presentation, after which we would like to move on to the Q&A session. So we'd like to move on with the presentation.
Please turn to slide 3. First of all, I would like to present the key highlights of the financial results for the third-quarter. Group adjusted profit amounted to JPY122.5 billion against the full year forecast of JPY146 billion with a progress rate of 83.9%, demonstrating a steady progress. Sales results of new policies of all three life insurance companies progressed smoothly against the plan. Surrender and lapse rate increase in Taiyo Life remained at the same level year-on-year in Daido Life and a decline in T&D Financial Life.
Value of new business as a combined total of the three life insurance companies
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