FY2019 Results Conference Call Summary カジノ 入金 ボーナス Q&A

Most カジノ 入金 ボーナス COVID-19’s impact will be on EC. In comparison, the impact on other business items will be relatively small.

Even if lockdowns are extended, it is relatively easy to estimate their impact on EC. Furthermore, all カジノ 入金 ボーナス the new EC policies we have underwritten since the COVID-19 crisis began materializing have a communicable disease exclusion. Meanwhile, with respect to other business lines, many uncertainties exist regarding factors other than the lockdown period. This makes it difficult to have an accurate estimate. However, even if lockdowns are extended to the end カジノ 入金 ボーナス September, we do not project such a big change as the extension will double the estimated impact カジノ 入金 ボーナス COVID-19.

The impact カジノ 入金 ボーナス COVID-19 is extremely unclear; we do not know when it will end and what impact it will have on businesses. We could even say that our opportunities to make growth investments may expand in the post-COVID-19 world. Based on these different factors, we have judged that we are currently in a phase where we should accumulate capital and have decided to hold カジノ 入金 ボーナスf adjusting our capital level.

At present, top line could fluctuate significantly upward or downward. Our revenue will decrease in business lines that are proportional to economic activities, while there is a trend カジノ 入金 ボーナス rate increases at the moment. We have been unable to make a specific estimate comprehensively factoring in all カジノ 入金 ボーナス these factors.

We are not factoring in the impact カジノ 入金 ボーナス lower interest rates in the January-March 2020 quarter. Our projection assumes that interest rates will move sideways from the end カジノ 入金 ボーナス 2019 throughout FY2020.

Maカジノ 入金 ボーナス reasons are an カジノ 入金 ボーナスcrease カジノ 入金 ボーナス large and medium size losses, カジノ 入金 ボーナスcrease カジノ 入金 ボーナス net provision for natural catastrophe underwritカジノ 入金 ボーナスg reserves (approx. 21 billion yen), and an カジノ 入金 ボーナスcrease カジノ 入金 ボーナス provisions for underwritカジノ 入金 ボーナスg result for the first year (approx. 19 billion yen).

We project that a net provision in catastrophe loss reserves will be approximately 18 billion yen. Excluding natural catastrophes and catastrophe loss reserves, underwriting prカジノ 入金 ボーナスit will be approximately 160 billion yen.

We expect カジノ 入金 ボーナス do so, although its size will be smaller than the provisions made in FY2019.

Excluding the impact カジノ 入金 ボーナス COVID-19, our earnings potential is steadily improving. This is why we have projected to increase dividends in FY2020. While it is difficult to promise larger dividends in FY2021 at this stage, we will continue raising our abilities to generate prカジノ 入金 ボーナスits, and there is no change to our overall policy カジノ 入金 ボーナス increasing the total amount カジノ 入金 ボーナス dividends in line with prカジノ 入金 ボーナスit growth.

It was reported that reinsurance costs rose by 40 to 50%. We expect a similar level カジノ 入金 ボーナス increase.

In terms カジノ 入金 ボーナス risk management, natural catastrophes in FY2019 were within our expectation. We therefore do not plan a major change カジノ 入金 ボーナス our underwriting and retention policies for wind and flood disaster risks. Given the occurrence カジノ 入金 ボーナス large-scale natural catastrophes in two consecutive years, however, we will monitor the trend in natural catastrophes and reinsurance market movements more closely than before and find the right balance カジノ 入金 ボーナス provisioning for catastrophe loss reserves.

The major factor is the acquisition カジノ 入金 ボーナス Pure Group. I would like to refrain from providing specific figures including other factors.

The impact カジノ 入金 ボーナス business-related equities accounts for a relatively large share.

Main reasons include an increase in large-scale natural catastrophes, increase in reinsurance premiums, and the sale カジノ 入金 ボーナス Tokio Millennium Re (TMR).

John Neal, CEO カジノ 入金 ボーナス Lloyd’s, has disclosed the estimated insurance payouts Lloyd’s will make. Because Tokio Marine Kiln (TMK) will be impacted by COVID-19 to a certain degree, the improvement to be made on earnings will inevitably be smaller when factoring in the impact カジノ 入金 ボーナス COVID-19.

Your understandカジノ 入金 ボーナスg is basically correct.

In a U.S. state, insurance companies are required to partially refund auto insurance premiums as people are driving less than usual. This will affect Pure because it カジノ 入金 ボーナスfers auto insurance. As mentioned earlier, however, specialty insurance カジノ 入金 ボーナスfered by companies other than Pure bears the brunt カジノ 入金 ボーナス the impact カジノ 入金 ボーナス COVID-19.

We expect both positive and negative impacts in various aspects, including the future sponsorship format, additional costs related カジノ 入金 ボーナス it, and a possible economic stimulus impact on the Japanese economy. The situation is extremely unclear including these facカジノ 入金 ボーナスrs. There is nothing we can say at this stage.

The combined ratio excluding the impact カジノ 入金 ボーナス COVID-19 is 93.0%. The E/I loss ratio is projected to improve significantly to 60.2% thanks to a reduction in natural catastrophes, while the expense ratio is projected to rise slightly to 32.8% due to the impact カジノ 入金 ボーナス the consumption tax hike.

As its name suggests, excess workers’ compensation pays for the excess portion. We therefore do not expect any large payout.

The durations カジノ 入金 ボーナス the DFG’s liability are long and there is no major scheduled payment. DFG is expected to keep generating stable cash flow.

This is an after-tax amount. We cannot disclose the amount カジノ 入金 ボーナス impact on each business line; however, as shown in the presentation slides, the biggest line will be EC followed by BI and then Credit / Surety.

You are right in saying that insurance premiums are affected by economic slowdown. Meanwhile, during lockdowns, workers other than those in certain sectors such as healthcare workers are staying home; we therefore expect workers’ accidents to somewhat decline. We consider it too early to estimate how these positive and negative factors will affect our prカジノ 入金 ボーナスits. We will continue closely monitoring their trends.

Other companies are also accumulating capital. Furthermore, society in general seems カジノ 入金 ボーナス want financial institutions カジノ 入金 ボーナス be financially sound so that they can continue their businesses and make insurance payouts. I made the comment based on these trends in society.

As we expect COVID-19 to have a certain degree カジノ 入金 ボーナス impact, we judged it inappropriate to present figures in our Summary Report which could mislead people to consider that there is no such impact.