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0:00:00.0 Ⅰ Ⅱ ◆ Copyright (c) 2015 Tokio Marine Holdings, Inc. 1 0:01:00.5 ? ? ? 国内損保 国内生保 ? Strengthen support for sales channels to unlock the potential of the integrated business model for life and nonlife to achieve sustainable growth 海外保険 Copyright (c) 2015 Tokio Marine Holdings, Inc. 2 Ⅰ Copyright (c) 2015 Tokio Marine Holdings, Inc. 3 Ⅰ Copyright (c) 2015 Tokio Marine Holdings, Inc. 4 0:03:21.6 ( ) Copyright (c) 2015 Tokio Marine Holdings, Inc. 5 0:06:33.5 ( ) 28.6 25.7 54.3 43 45 88 75 27 102 Copyright (c) 2015 Tokio Marine Holdings, Inc. 6 Ⅰ Copyright (c) 2015 Tokio Marine Holdings, Inc. 7 0:09:11.6 ? ? ? ■ ■ ? ? ? ■ : : : : : : 10 Year Average COR 1st Quintile (Lowest) 2nd Quintile 3rd Quintile 4th Quintile 5th Quintile (Highest) ◆ ■ ■ Standard Deviation in COR 5th Quintile (Highest) ProAssurance ◆ Allied World ◆ Alleghany AXIS ◆ Capital White Mountains ◆ ◆ American Financial ◆ 4th Quintile 3rd Quintile 2nd Quintile RLI ◆ 1st Quintile (Lowest) Chubb ◆ HC C ◆ Partner Re Endurance ◆ ◆ Travelers ◆ Aspen ◆ Arch Capital ◆ ACE ◆ W.R.Berkley ◆ Everest Re XL Group ◆ ◆ Baldwin & Lyons Navigators ◆ Argo Group ◆ Markel ◆ Hartford ◆ CNA ◆ : Copyright (c) 2015 Tokio Marine Holdings, Inc. 8 0:11:03.1 ■ + Copyright (c) 2015 Tokio Marine Holdings, Inc. 9 0:12:29.9 ? ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 10 0:15:38.1 : : 2 ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 11 Copyright (c) 2015 Tokio Marine Holdings, Inc. 12 (Blank Page) Copyright (c) 2015 Tokio Marine Holdings, Inc. 13 Ⅰ Copyright (c) 2015 Tokio Marine Holdings, Inc. 14 0:17:33.7 ? ? × : : ? ? ? ? Ⅱ : ? ? ? ? , etc. associated with the acquisition of HCC ? ? ? ? ? + Copyright (c) 2015 Tokio Marine Holdings, Inc. 15 0:19:51.7 + + Copyright (c) 2015 Tokio Marine Holdings, Inc. 16 0:21:50.6 ? ? ? ? ? ■ Copyright (c) 2015 Tokio Marine Holdings, Inc. 17 0:23:30.6 ? ? ? ? ? ※ ■ ■ ■ ■ ■ ? ■ ■ 1 * ■ * * Copyright (c) 2015 Tokio Marine Holdings, Inc. 18 Ⅱ Copyright (c) 2015 Tokio Marine Holdings, Inc. 19 Ⅱ Copyright (c) 2015 Tokio Marine Holdings, Inc. 20 0:25:22.3 ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 21 0:26:40.2 ■ ( ) Copyright (c) 2015 Tokio Marine Holdings, Inc. 22 0:27:49.0 ● ( ) ● ( ) ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 23 0:30:54.7 ( ) Copyright (c) 2015 Tokio Marine Holdings, Inc. 24 Ⅱ Copyright (c) 2015 Tokio Marine Holdings, Inc. 25 0:32:23.0 ? % ? ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 26 0:34:57.2 ? ・ ? ・ ? ・ ・ ・ ? ? ? ・ Copyright (c) 2015 Tokio Marine Holdings, Inc. 27 0:37:16.2 ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 28 (Blank Page) Copyright (c) 2015 Tokio Marine Holdings, Inc. 29 Ⅱ Copyright (c) 2014 Tokio Marine Holdings, Inc. 30 0:39:45.6 ? ? ■ 2015 Projections Mid-Term Business Plan ■ 2015 Projections Mid-Term Business Plan +5% (excl. FX) - 2% 1,302.6 1,269 1,280 approx. CAGR+7% approx. CAGR+8% 145.5 aprox.1,250 + 127 123 approx.125 + 2014 2015 Projections (Original) (Revised) 2014 Normalized* *excl. FX 2017 Plan 2014 2015 Projections (Original) (Revised) 2014 Normalized* 2017 Plan +11 ? -4 ? *excl. FX, nat-cat is normalized ■ ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 31 Net Premiuns Written FY2015 Projections FY2014 Results As of endDec. 2014 Original → Revised Business Units Profits FY2015 Projections FY2014 Results As of endDec. 2014 Original → Revised from FY2014 Results YoY Change 1.0 1.0 -2.0 -4.0 -17.0 -18.0 69.0 30.0 26.7 16.0 1.3 2.3 -31.1 -4.6 21.4 14.2 % 4% 5% 1% 2% -24% -4% 14% 1% (Ref.) YoY (Excluding FX effects)*3 from FY2014 Results YoY Change 2.0 1.0 1.0 -4.0 -1.0 -3.0 4.7 1.6 2.7 -11.6 -1.8 -6.3 1.3 -13.6 % 5% 4% 7% -59% -32% -37% 14% -10% (Ref.) YoY (Excluding FX effects)*3 Original (a) Applied FX rate USD/JPY As of endMar. 2015 Revised (b) As of endSep. 2015 Difference (b - a) Original (a) As of endMar. 2015 Revised (b) As of endSep. 2015 Difference (b - a) JPY 120.5 631.2 323.9 236.6 154.6 132.1 116.6 149.5 1,184.7 JPY 120.1 657.0 339.0 240.0 161.0 118.0 130.0 102.0 1,169.0 JPY 119.9 658.0 340.0 238.0 157.0 101.0 112.0 171.0 1,199.0 JPY 120.5 87.2 42.3 40.2 19.6 5.8 17.3 9.6 138.6 JPY 120.1 90.0 43.0 42.0 12.0 4.0 12.0 11.0 128.0 JPY 119.9 92.0 44.0 43.0 8.0 4.0 11.0 11.0 125.0 North America Philadelphia Delphi Europe & Middle East South & Central America Asia Reinsurnace Total Non-Life*1 5% 5% 1% 6% 13% 6% 15% 7% 6% 4% 7% -58% 0% -30% 15% -7% Life 117.9 100.0 81.0 -19.0 -36.9 -31% -23% 9.4 2.0 1.0 -1.0 -8.4 -89% -88% Total*2 1,302.6 1,269.0 1,280.0 11.0 -22.6 -2% 5% 145.5 127.0 123.0 -4.0 -22.5 -16% -12% *1: Total Non-Life figures include some life insurance figures of composite overseas subsidiaries *2: After adjustment of head office expenses   *3: Local currency basis → → ▲ ▲ ▲ ▲ ▲ Copyright (c) 2015 Tokio Marine Holdings, Inc. ▲ ▲ 32 0:41:26.7 ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. ? 33 0:42:45.0 ■ ■ ■ ■ ■ ■ ? ? 2015 opened London branch 2013 relocated headquarters to Switzerland ± 2014 opened US branch 2010 opened Australia branch ? Copyright (c) 2015 Tokio Marine Holdings, Inc. ? 34 0:44:45.7 ? ? ? on a local currency basis in Brazil ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 35 a ・ ・ ・ b ・ ・ ・ ・ c ・ ・ ・ d ・ ・ ・ Copyright (c) 2015 Tokio Marine Holdings, Inc. 36 Tokio Marine Holdings Key Statistics Copyright (c) 2015 Tokio Marine Holdings, Inc. 37 < > < > : : Copyright (c) 2015 Tokio Marine Holdings, Inc. 38 ? ■ ? ■ ? ■ * * 【 】 ■ ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 39 ? : ? ? ・ ・ ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 40 ? ■ ■ ? ? ■ ※ ※ 【 】 ■ ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 41 (billions of yen) FY2014 Results FY2015 Projections Business Domain ? (b)-(a) Original (a) 134.0 Revised (b) 110.0 106.0 6.0 -2.0 100.0 101.0 123.0 92.0 8.0 4.0 10.0 11.0 125.0 1.0 : ? Domestic Non-Life TMNF NF Other Domestic Life*1 TMNL International Insurance North America Europe (incl. Middle East) South & Central America Asia Reinsurance International Non-Life International Life Financial & General *2 -24.0 -24.0 31.0 31.0 -4.0 2.0 -4.0 -2.0 -3.0 -1.0 113.7 12.2 -3.4 130.0 6.0 -2.0 69.0 ? 169.7 70.0 127.0 ? 87.2 19.6 5.8 17.3 9.6 138.6 9.4 90.0 12.0 4.0 12.0 11.0 128.0 2.0 ? ? ? 4.0 4.0 6.0 2.0 Total 439.4 334.0 339.0 *1: Excluding capital transactions *2: International Non-Life figures include some life insurance figures of composite overseas subsidiaries Copyright (c) 2015 Tokio Marine Holdings, Inc. 42 ? ? ? *1 Each adjustment is on an after-tax basis *2 "Net income attributable to owners of the parent" shows figures for former "Net income" *3 Reversals are subtracted *4 ALM: Asset Liability management Excluded as counter balance items against market value fluctuations of liabilities Copyright (c) 2015 Tokio Marine Holdings, Inc. 43 ? ( ) ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 44 ? Adjusted Net Income = Net income (consolidated)*2 Provision for + catastrophe loss reserves*3 + Provision for contingency reserves*3 + Provision for price fluctuation reserves*3 Gains or losses on sales or valuation of ALM*4 bonds and interest rate swaps Gains or losses on sales or valuation of fixed assets Amortization of goodwill and other intangible fixed assets Other extraordinary gains/losses, valuation allowances, etc + ? ( ) ? ÷ ? ? ? 45 ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 46 ? ? ? ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 47 ? ? ? ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 48 ? ( ? ? ? ? * その他 Copyright (c) 2015 Tokio Marine Holdings, Inc. 49 ? < ? ? > ( ) < ? ? > ? ? ? ? ? ( ? - Copyright (c) 2015 Tokio Marine Holdings, Inc. 50 ? 【 ( ? 】 ) 【 】 FY2000 20.2% + + FY2014 0 50 100 ( 150 ( ) ) 500 470 438 349 283 256 219 317 378 405 160 134 87 8 1996 187 106 23 1997 41 57 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 ( ) Copyright (c) 2015 Tokio Marine Holdings, Inc. 51 ? 1,302.6 1,280 1,200 1,074.5 1,000 800 734.3 600 544.0 526.5 499.7 413.9 400 362.6 319.5 240.2 200 118.7 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Projections 119.9 104.2 118.1 119.1 114.1 91.0 92.1 81.4 77.7 86.5 105.3 120.5 * Copyright (c) 2015 Tokio Marine Holdings, Inc. 52 Asset Portfolio ? ? ? ? ? 26% 21% 28% 71% 12% 17% 13% 12% Copyright (c) 2015 Tokio Marine Holdings, Inc. 53 54 0:48:09.9 0:48:53.5 0:49:17.8 0:50:44.9 0:51:25.2 0:56:58.8 0:59:02.2 0:59:15.3 1:00:29.4 1:01:34.9 1:05:37.2 1:10:28.6 1:12:00.0 1:12:20.6 1:12:57.3 1:13:12.2 1:14:22.4 1:16:28.0 1:17:14.0 1:19:23.1 1:27:31.8 1:27:45.8 1:27:53.4 1:28:18.3 1:29:43.1 Tsuyoshi Nagano President Tsuyoshi Nagano 0:00:00.0 Ⅰ Ⅱ ◆ Copyright (c) 2015 Tokio Marine Holdings, Inc. 1 0:01:00.5 ? ? ? 国内損保 国内生保 ? Strengthen support for sales channels to unlock the potential of the integrated business model for life and nonlife to achieve sustainable growth 海外保険 Copyright (c) 2015 Tokio Marine Holdings, Inc. 2 Ⅰ Copyright (c) 2015 Tokio Marine Holdings, Inc. 3 Ⅰ Copyright (c) 2015 Tokio Marine Holdings, Inc. 4 0:03:21.6 ( ) Copyright (c) 2015 Tokio Marine Holdings, Inc. 5 0:06:33.5 ( ) 28.6 25.7 54.3 43 45 88 75 27 102 Copyright (c) 2015 Tokio Marine Holdings, Inc. 6 Ⅰ Copyright (c) 2015 Tokio Marine Holdings, Inc. 7 0:09:11.6 ? ? ? ■ ■ ? ? ? ■ : : : : : : 10 Year Average COR 1st Quintile (Lowest) 2nd Quintile 3rd Quintile 4th Quintile 5th Quintile (Highest) ◆ ■ ■ Standard Deviation in COR 5th Quintile (Highest) ProAssurance ◆ Allied World ◆ Alleghany AXIS ◆ Capital White Mountains ◆ ◆ American Financial ◆ 4th Quintile 3rd Quintile 2nd Quintile RLI ◆ 1st Quintile (Lowest) Chubb ◆ HC C ◆ Partner Re Endurance ◆ ◆ Travelers ◆ Aspen ◆ Arch Capital ◆ ACE ◆ W.R.Berkley ◆ Everest Re XL Group ◆ ◆ Baldwin & Lyons Navigators ◆ Argo Group ◆ Markel ◆ Hartford ◆ CNA ◆ : Copyright (c) 2015 Tokio Marine Holdings, Inc. 8 0:11:03.1 ■ + Copyright (c) 2015 Tokio Marine Holdings, Inc. 9 0:12:29.9 ? ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 10 0:15:38.1 : : 2 ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 11 Copyright (c) 2015 Tokio Marine Holdings, Inc. 12 (Blank Page) Copyright (c) 2015 Tokio Marine Holdings, Inc. 13 Ⅰ Copyright (c) 2015 Tokio Marine Holdings, Inc. 14 0:17:33.7 ? ? × : : ? ? ? ? Ⅱ : ? ? ? ? , etc. associated with the acquisition of HCC ? ? ? ? ? + Copyright (c) 2015 Tokio Marine Holdings, Inc. 15 0:19:51.7 + + Copyright (c) 2015 Tokio Marine Holdings, Inc. 16 0:21:50.6 ? ? ? ? ? ■ Copyright (c) 2015 Tokio Marine Holdings, Inc. 17 0:23:30.6 ? ? ? ? ? ※ ■ ■ ■ ■ ■ ? ■ ■ 1 * ■ * * Copyright (c) 2015 Tokio Marine Holdings, Inc. 18 Ⅱ Copyright (c) 2015 Tokio Marine Holdings, Inc. 19 Ⅱ Copyright (c) 2015 Tokio Marine Holdings, Inc. 20 0:25:22.3 ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 21 0:26:40.2 ■ ( ) Copyright (c) 2015 Tokio Marine Holdings, Inc. 22 0:27:49.0 ● ( ) ● ( ) ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 23 0:30:54.7 ( ) Copyright (c) 2015 Tokio Marine Holdings, Inc. 24 Ⅱ Copyright (c) 2015 Tokio Marine Holdings, Inc. 25 0:32:23.0 ? % ? ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 26 0:34:57.2 ? ・ ? ・ ? ・ ・ ・ ? ? ? ・ Copyright (c) 2015 Tokio Marine Holdings, Inc. 27 0:37:16.2 ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 28 (Blank Page) Copyright (c) 2015 Tokio Marine Holdings, Inc. 29 Ⅱ Copyright (c) 2014 Tokio Marine Holdings, Inc. 30 0:39:45.6 ? ? ■ 2015 Projections Mid-Term Business Plan ■ 2015 Projections Mid-Term Business Plan +5% (excl. FX) - 2% 1,302.6 1,269 1,280 approx. CAGR+7% approx. CAGR+8% 145.5 aprox.1,250 + 127 123 approx.125 + 2014 2015 Projections (Original) (Revised) 2014 Normalized* *excl. FX 2017 Plan 2014 2015 Projections (Original) (Revised) 2014 Normalized* 2017 Plan +11 ? -4 ? *excl. FX, nat-cat is normalized ■ ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 31 Net Premiuns Written FY2015 Projections FY2014 Results As of endDec. 2014 Original → Revised Business Units Profits FY2015 Projections FY2014 Results As of endDec. 2014 Original → Revised from FY2014 Results YoY Change 1.0 1.0 -2.0 -4.0 -17.0 -18.0 69.0 30.0 26.7 16.0 1.3 2.3 -31.1 -4.6 21.4 14.2 % 4% 5% 1% 2% -24% -4% 14% 1% (Ref.) YoY (Excluding FX effects)*3 from FY2014 Results YoY Change 2.0 1.0 1.0 -4.0 -1.0 -3.0 4.7 1.6 2.7 -11.6 -1.8 -6.3 1.3 -13.6 % 5% 4% 7% -59% -32% -37% 14% -10% (Ref.) YoY (Excluding FX effects)*3 Original (a) Applied FX rate USD/JPY As of endMar. 2015 Revised (b) As of endSep. 2015 Difference (b - a) Original (a) As of endMar. 2015 Revised (b) As of endSep. 2015 Difference (b - a) JPY 120.5 631.2 323.9 236.6 154.6 132.1 116.6 149.5 1,184.7 JPY 120.1 657.0 339.0 240.0 161.0 118.0 130.0 102.0 1,169.0 JPY 119.9 658.0 340.0 238.0 157.0 101.0 112.0 171.0 1,199.0 JPY 120.5 87.2 42.3 40.2 19.6 5.8 17.3 9.6 138.6 JPY 120.1 90.0 43.0 42.0 12.0 4.0 12.0 11.0 128.0 JPY 119.9 92.0 44.0 43.0 8.0 4.0 11.0 11.0 125.0 North America Philadelphia Delphi Europe & Middle East South & Central America Asia Reinsurnace Total Non-Life*1 5% 5% 1% 6% 13% 6% 15% 7% 6% 4% 7% -58% 0% -30% 15% -7% Life 117.9 100.0 81.0 -19.0 -36.9 -31% -23% 9.4 2.0 1.0 -1.0 -8.4 -89% -88% Total*2 1,302.6 1,269.0 1,280.0 11.0 -22.6 -2% 5% 145.5 127.0 123.0 -4.0 -22.5 -16% -12% *1: Total Non-Life figures include some life insurance figures of composite overseas subsidiaries *2: After adjustment of head office expenses   *3: Local currency basis → → ▲ ▲ ▲ ▲ ▲ Copyright (c) 2015 Tokio Marine Holdings, Inc. ▲ ▲ 32 0:41:26.7 ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. ? 33 0:42:45.0 ■ ■ ■ ■ ■ ■ ? ? 2015 opened London branch 2013 relocated headquarters to Switzerland ± 2014 opened US branch 2010 opened Australia branch ? Copyright (c) 2015 Tokio Marine Holdings, Inc. ? 34 0:44:45.7 ? ? ? on a local currency basis in Brazil ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 35 a ・ ・ ・ b ・ ・ ・ ・ c ・ ・ ・ d ・ ・ ・ Copyright (c) 2015 Tokio Marine Holdings, Inc. 36 Tokio Marine Holdings Key Statistics Copyright (c) 2015 Tokio Marine Holdings, Inc. 37 < > < > : : Copyright (c) 2015 Tokio Marine Holdings, Inc. 38 ? ■ ? ■ ? ■ * * 【 】 ■ ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 39 ? : ? ? ・ ・ ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 40 ? ■ ■ ? ? ■ ※ ※ 【 】 ■ ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 41 (billions of yen) FY2014 Results FY2015 Projections Business Domain ? (b)-(a) Original (a) 134.0 Revised (b) 110.0 106.0 6.0 -2.0 100.0 101.0 123.0 92.0 8.0 4.0 10.0 11.0 125.0 1.0 : ? Domestic Non-Life TMNF NF Other Domestic Life*1 TMNL International Insurance North America Europe (incl. Middle East) South & Central America Asia Reinsurance International Non-Life International Life Financial & General *2 -24.0 -24.0 31.0 31.0 -4.0 2.0 -4.0 -2.0 -3.0 -1.0 113.7 12.2 -3.4 130.0 6.0 -2.0 69.0 ? 169.7 70.0 127.0 ? 87.2 19.6 5.8 17.3 9.6 138.6 9.4 90.0 12.0 4.0 12.0 11.0 128.0 2.0 ? ? ? 4.0 4.0 6.0 2.0 Total 439.4 334.0 339.0 *1: Excluding capital transactions *2: International Non-Life figures include some life insurance figures of composite overseas subsidiaries Copyright (c) 2015 Tokio Marine Holdings, Inc. 42 ? ? ? *1 Each adjustment is on an after-tax basis *2 "Net income attributable to owners of the parent" shows figures for former "Net income" *3 Reversals are subtracted *4 ALM: Asset Liability management Excluded as counter balance items against market value fluctuations of liabilities Copyright (c) 2015 Tokio Marine Holdings, Inc. 43 ? ( ) ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 44 ? Adjusted Net Income = Net income (consolidated)*2 Provision for + catastrophe loss reserves*3 + Provision for contingency reserves*3 + Provision for price fluctuation reserves*3 Gains or losses on sales or valuation of ALM*4 bonds and interest rate swaps Gains or losses on sales or valuation of fixed assets Amortization of goodwill and other intangible fixed assets Other extraordinary gains/losses, valuation allowances, etc + ? ( ) ? ÷ ? ? ? 45 ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 46 ? ? ? ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 47 ? ? ? ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 48 ? ( ? ? ? ? * その他 Copyright (c) 2015 Tokio Marine Holdings, Inc. 49 ? < ? ? > ( ) < ? ? > ? ? ? ? ? ( ? - Copyright (c) 2015 Tokio Marine Holdings, Inc. 50 ? 【 ( ? 】 ) 【 】 FY2000 20.2% + + FY2014 0 50 100 ( 150 ( ) ) 500 470 438 349 283 256 219 317 378 405 160 134 87 8 1996 187 106 23 1997 41 57 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 ( ) Copyright (c) 2015 Tokio Marine Holdings, Inc. 51 ? 1,302.6 1,280 1,200 1,074.5 1,000 800 734.3 600 544.0 526.5 499.7 413.9 400 362.6 319.5 240.2 200 118.7 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Projections 119.9 104.2 118.1 119.1 114.1 91.0 92.1 81.4 77.7 86.5 105.3 120.5 * Copyright (c) 2015 Tokio Marine Holdings, Inc. 52 Asset Portfolio ? ? ? ? ? 26% 21% 28% 71% 12% 17% 13% 12% Copyright (c) 2015 Tokio Marine Holdings, Inc. 53 54 0:48:09.9 0:48:53.5 0:49:17.8 0:50:44.9 0:51:25.2 0:56:58.8 0:59:02.2 0:59:15.3 1:00:29.4 1:01:34.9 1:05:37.2 1:10:28.6 1:12:00.0 1:12:20.6 1:12:57.3 1:13:12.2 1:14:22.4 1:16:28.0 1:17:14.0 1:19:23.1 1:27:31.8 1:27:45.8 1:27:53.4 1:28:18.3 1:29:43.1 Tsuyoshi Nagano President Tsuyoshi Nagano 0:00:00.0 Ⅰ Ⅱ ◆ Copyright (c) 2015 Tokio Marine Holdings, Inc. 1 0:01:00.5 ? ? ? 国内損保 国内生保 ? Strengthen support for sales channels to unlock the potential of the integrated business model for life and nonlife to achieve sustainable growth 海外保険 Copyright (c) 2015 Tokio Marine Holdings, Inc. 2 Ⅰ Copyright (c) 2015 Tokio Marine Holdings, Inc. 3 Ⅰ Copyright (c) 2015 Tokio Marine Holdings, Inc. 4 0:03:21.6 ( ) Copyright (c) 2015 Tokio Marine Holdings, Inc. 5 0:06:33.5 ( ) 28.6 25.7 54.3 43 45 88 75 27 102 Copyright (c) 2015 Tokio Marine Holdings, Inc. 6 Ⅰ Copyright (c) 2015 Tokio Marine Holdings, Inc. 7 0:09:11.6 ? ? ? ■ ■ ? ? ? ■ : : : : : : 10 Year Average COR 1st Quintile (Lowest) 2nd Quintile 3rd Quintile 4th Quintile 5th Quintile (Highest) ◆ ■ ■ Standard Deviation in COR 5th Quintile (Highest) ProAssurance ◆ Allied World ◆ Alleghany AXIS ◆ Capital White Mountains ◆ ◆ American Financial ◆ 4th Quintile 3rd Quintile 2nd Quintile RLI ◆ 1st Quintile (Lowest) Chubb ◆ HC C ◆ Partner Re Endurance ◆ ◆ Travelers ◆ Aspen ◆ Arch Capital ◆ ACE ◆ W.R.Berkley ◆ Everest Re XL Group ◆ ◆ Baldwin & Lyons Navigators ◆ Argo Group ◆ Markel ◆ Hartford ◆ CNA ◆ : Copyright (c) 2015 Tokio Marine Holdings, Inc. 8 0:11:03.1 ■ + Copyright (c) 2015 Tokio Marine Holdings, Inc. 9 0:12:29.9 ? ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 10 0:15:38.1 : : 2 ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 11 Copyright (c) 2015 Tokio Marine Holdings, Inc. 12 (Blank Page) Copyright (c) 2015 Tokio Marine Holdings, Inc. 13 Ⅰ Copyright (c) 2015 Tokio Marine Holdings, Inc. 14 0:17:33.7 ? ? × : : ? ? ? ? Ⅱ : ? ? ? ? , etc. associated with the acquisition of HCC ? ? ? ? ? + Copyright (c) 2015 Tokio Marine Holdings, Inc. 15 0:19:51.7 + + Copyright (c) 2015 Tokio Marine Holdings, Inc. 16 0:21:50.6 ? ? ? ? ? ■ Copyright (c) 2015 Tokio Marine Holdings, Inc. 17 0:23:30.6 ? ? ? ? ? ※ ■ ■ ■ ■ ■ ? ■ ■ 1 * ■ * * Copyright (c) 2015 Tokio Marine Holdings, Inc. 18 Ⅱ Copyright (c) 2015 Tokio Marine Holdings, Inc. 19 Ⅱ Copyright (c) 2015 Tokio Marine Holdings, Inc. 20 0:25:22.3 ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 21 0:26:40.2 ■ ( ) Copyright (c) 2015 Tokio Marine Holdings, Inc. 22 0:27:49.0 ● ( ) ● ( ) ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 23 0:30:54.7 ( ) Copyright (c) 2015 Tokio Marine Holdings, Inc. 24 Ⅱ Copyright (c) 2015 Tokio Marine Holdings, Inc. 25 0:32:23.0 ? % ? ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 26 0:34:57.2 ? ・ ? ・ ? ・ ・ ・ ? ? ? ・ Copyright (c) 2015 Tokio Marine Holdings, Inc. 27 0:37:16.2 ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 28 (Blank Page) Copyright (c) 2015 Tokio Marine Holdings, Inc. 29 Ⅱ Copyright (c) 2014 Tokio Marine Holdings, Inc. 30 0:39:45.6 ? ? ■ 2015 Projections Mid-Term Business Plan ■ 2015 Projections Mid-Term Business Plan +5% (excl. FX) - 2% 1,302.6 1,269 1,280 approx. CAGR+7% approx. CAGR+8% 145.5 aprox.1,250 + 127 123 approx.125 + 2014 2015 Projections (Original) (Revised) 2014 Normalized* *excl. FX 2017 Plan 2014 2015 Projections (Original) (Revised) 2014 Normalized* 2017 Plan +11 ? -4 ? *excl. FX, nat-cat is normalized ■ ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 31 Net Premiuns Written FY2015 Projections FY2014 Results As of endDec. 2014 Original → Revised Business Units Profits FY2015 Projections FY2014 Results As of endDec. 2014 Original → Revised from FY2014 Results YoY Change 1.0 1.0 -2.0 -4.0 -17.0 -18.0 69.0 30.0 26.7 16.0 1.3 2.3 -31.1 -4.6 21.4 14.2 % 4% 5% 1% 2% -24% -4% 14% 1% (Ref.) YoY (Excluding FX effects)*3 from FY2014 Results YoY Change 2.0 1.0 1.0 -4.0 -1.0 -3.0 4.7 1.6 2.7 -11.6 -1.8 -6.3 1.3 -13.6 % 5% 4% 7% -59% -32% -37% 14% -10% (Ref.) YoY (Excluding FX effects)*3 Original (a) Applied FX rate USD/JPY As of endMar. 2015 Revised (b) As of endSep. 2015 Difference (b - a) Original (a) As of endMar. 2015 Revised (b) As of endSep. 2015 Difference (b - a) JPY 120.5 631.2 323.9 236.6 154.6 132.1 116.6 149.5 1,184.7 JPY 120.1 657.0 339.0 240.0 161.0 118.0 130.0 102.0 1,169.0 JPY 119.9 658.0 340.0 238.0 157.0 101.0 112.0 171.0 1,199.0 JPY 120.5 87.2 42.3 40.2 19.6 5.8 17.3 9.6 138.6 JPY 120.1 90.0 43.0 42.0 12.0 4.0 12.0 11.0 128.0 JPY 119.9 92.0 44.0 43.0 8.0 4.0 11.0 11.0 125.0 North America Philadelphia Delphi Europe & Middle East South & Central America Asia Reinsurnace Total Non-Life*1 5% 5% 1% 6% 13% 6% 15% 7% 6% 4% 7% -58% 0% -30% 15% -7% Life 117.9 100.0 81.0 -19.0 -36.9 -31% -23% 9.4 2.0 1.0 -1.0 -8.4 -89% -88% Total*2 1,302.6 1,269.0 1,280.0 11.0 -22.6 -2% 5% 145.5 127.0 123.0 -4.0 -22.5 -16% -12% *1: Total Non-Life figures include some life insurance figures of composite overseas subsidiaries *2: After adjustment of head office expenses   *3: Local currency basis → → ▲ ▲ ▲ ▲ ▲ Copyright (c) 2015 Tokio Marine Holdings, Inc. ▲ ▲ 32 0:41:26.7 ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. ? 33 0:42:45.0 ■ ■ ■ ■ ■ ■ ? ? 2015 opened London branch 2013 relocated headquarters to Switzerland ± 2014 opened US branch 2010 opened Australia branch ? Copyright (c) 2015 Tokio Marine Holdings, Inc. ? 34 0:44:45.7 ? ? ? on a local currency basis in Brazil ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 35 a ・ ・ ・ b ・ ・ ・ ・ c ・ ・ ・ d ・ ・ ・ Copyright (c) 2015 Tokio Marine Holdings, Inc. 36 Tokio Marine Holdings Key Statistics Copyright (c) 2015 Tokio Marine Holdings, Inc. 37 < > < > : : Copyright (c) 2015 Tokio Marine Holdings, Inc. 38 ? ■ ? ■ ? ■ * * 【 】 ■ ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 39 ? : ? ? ・ ・ ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 40 ? ■ ■ ? ? ■ ※ ※ 【 】 ■ ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 41 (billions of yen) FY2014 Results FY2015 Projections Business Domain ? (b)-(a) Original (a) 134.0 Revised (b) 110.0 106.0 6.0 -2.0 100.0 101.0 123.0 92.0 8.0 4.0 10.0 11.0 125.0 1.0 : ? Domestic Non-Life TMNF NF Other Domestic Life*1 TMNL International Insurance North America Europe (incl. Middle East) South & Central America Asia Reinsurance International Non-Life International Life Financial & General *2 -24.0 -24.0 31.0 31.0 -4.0 2.0 -4.0 -2.0 -3.0 -1.0 113.7 12.2 -3.4 130.0 6.0 -2.0 69.0 ? 169.7 70.0 127.0 ? 87.2 19.6 5.8 17.3 9.6 138.6 9.4 90.0 12.0 4.0 12.0 11.0 128.0 2.0 ? ? ? 4.0 4.0 6.0 2.0 Total 439.4 334.0 339.0 *1: Excluding capital transactions *2: International Non-Life figures include some life insurance figures of composite overseas subsidiaries Copyright (c) 2015 Tokio Marine Holdings, Inc. 42 ? ? ? *1 Each adjustment is on an after-tax basis *2 "Net income attributable to owners of the parent" shows figures for former "Net income" *3 Reversals are subtracted *4 ALM: Asset Liability management Excluded as counter balance items against market value fluctuations of liabilities Copyright (c) 2015 Tokio Marine Holdings, Inc. 43 ? ( ) ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 44 ? Adjusted Net Income = Net income (consolidated)*2 Provision for + catastrophe loss reserves*3 + Provision for contingency reserves*3 + Provision for price fluctuation reserves*3 Gains or losses on sales or valuation of ALM*4 bonds and interest rate swaps Gains or losses on sales or valuation of fixed assets Amortization of goodwill and other intangible fixed assets Other extraordinary gains/losses, valuation allowances, etc + ? ( ) ? ÷ ? ? ? 45 ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 46 ? ? ? ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 47 ? ? ? ? ? ? ? ? ? Copyright (c) 2015 Tokio Marine Holdings, Inc. 48 ? ( ? ? ? ? * その他 Copyright (c) 2015 Tokio Marine Holdings, Inc. 49 ? < ? ? > ( ) < ? ? > ? ? ? ? ? ( ? - Copyright (c) 2015 Tokio Marine Holdings, Inc. 50 ? 【 ( ? 】 ) 【 】 FY2000 20.2% + + FY2014 0 50 100 ( 150 ( ) ) 500 470 438 349 283 256 219 317 378 405 160 134 87 8 1996 187 106 23 1997 41 57 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 ( ) Copyright (c) 2015 Tokio Marine Holdings, Inc. 51 ? 1,302.6 1,280 1,200 1,074.5 1,000 800 734.3 600 544.0 526.5 499.7 413.9 400 362.6 319.5 240.2 200 118.7 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Projections 119.9 104.2 118.1 119.1 114.1 91.0 92.1 81.4 77.7 86.5 105.3 120.5 * Copyright (c) 2015 Tokio Marine Holdings, Inc. 52 Asset Portfolio ? ? ? ? ? 26% 21% 28% 71% 12% 17% 13% 12% Copyright (c) 2015 Tokio Marine Holdings, Inc. 53 54 0:48:09.9 0:48:53.5 0:49:17.8 0:50:44.9 0:51:25.2 0:56:58.8 0:59:02.2 0:59:15.3 1:00:29.4 1:01:34.9 1:05:37.2 1:10:28.6 1:12:00.0 1:12:20.6 1:12:57.3 1:13:12.2 1:14:22.4 1:16:28.0 1:17:14.0 1:19:23.1 1:27:31.8 1:27:45.8 1:27:53.4 1:28:18.3 1:29:43.1 Tsuyoshi Nagano President Tsuyoshi Nagano