Dai-Ichi Life Earnings: Guidance Unchanged Despite Strong Profit Given Recent Market Volatility

Dai-Ichi Life Holdings reported economic profit of JPY 144 billion for the June quarter, achieving 42% of its guidance of JPY 340 billion for the year ending March 2025 in the first three months. The core Dai-Ichi Life Insurance business, or DL, contributed JPY 84 billion, or 39% of its full-year guidance of JPY 215 billion, thanks to faster-than-expected sales of Japanese equities. Dai-Ichi Frontier contributed JPY 17 billion, 69% of its full-year guidance of JPY 25 billion, as a weak yen led to increased surrenders, resulting in gains on policy terminations. Alabama-based Protective contributed JPY 18 billion, or 37% of its full-year guidance of JPY 48 billion, due to lower-than-expected securities losses and insurance claims. In Australia, TAL contributed JPY 11 billion, meeting 30% of its full-year guidance of JPY 38 billion.