News & Topics / Holdings : FY 2013

Notice Concerning the Status of Losses Incurred due to Heavy Snowfall in February, 2014 (Alert)

Mar 26, 2014

MS&AD Insurance Group Holdings, Inc.

We would like to express our sincerest sympathies for all those who have suffered damage due to the heavy snowfall in February.

 

MS&AD Insurance Group Holdings, Inc. (President & CEO: Toshiaki Egashira) hereby reports on the status of losses incurred by its subsidiaries Mitsui Sumitomo Insurance Co., Ltd. and Aioi Nissay Dowa Insurance Co., Ltd. due to the heavy snowfall in February.

The figures below are preliminary figures based on information available as of March 20, and are subject to change due to additional reports of losses and progress in confirming the status of losses.

 

1. Incurred losses on a direct basis*1 (including  all losses of co-insurance policies which we issued  as lead underwriter)*2

 

                                          (Units: billions of yen, reported by March 20, 2014)

 

 

Voluntary auto

Fire and other

Total

Mitsui Sumitomo Insurance

3.0 34.0

37.0

Aioi Nissay Dowa Insurance

5.0 27.0

32.0

Total

8.0

61.0

69.0

Note: The final projected amount of claim payments is forecast to be 75.0 billion yen.

 

*1: Incurred losses on a direct basis

The sum of claim payments and outstanding claims on a basis not taking into consideration collection from reinsurance.

 

*2: Including all losses of co-insurance policies which we issued as lead underwriter

The amount representing the sum for all companies comprising individual policies with Mitsui Sumitomo Insurance or Aioi Nissay Dowa Insurance, and coinsurance policies with Mitsui Sumitomo Insurance or Aioi Nissay Dowa Insurance as the lead underwriter. Does not include coinsurance policies with other companies as lead underwriter.

 

 

2. Earnings forecast (consolidated)

  The Company does not, at present, intend to revise the consolidated business outlook for FY 2013 (ending March 31, 2014) announced on May 20, 2013. In case a revision of the earnings forecast is required, we will promptly release new information.

 

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