TOKYO (dpa-AFX) - Tokio Marine Holdings, Inc. (TKOMF.PK), an insurance holding company, Tuesday reported income before income taxes and non-controlling interests of 261.284 billion yen for the first quarter, higher than 168.567 billion yen in the same quarter a year ago.
Net income grew to 197.316 billion yen or 100.57 yen per share from 127.95 billion yen or 64.37 yen per share in the previous year.
Ordinary profit was 265.032 billion yen, up from 171.355 billion yen last year.
Ordinary income including underwriting income and investment income increased to 1,924.073 billion yen from 1,822.527 billion yen a year ago.
Underwriting income decreased to 1,455.705 billion yen from 1,466.892 billion yen in the previous year, while investment income rose to 423.225 billion yen from 317.457 billion yen. The company had other ordinary income of 45.143 billion yen for the quarter, higher than 38.177 billion yen last year.
Net premiums written increased to 1,298.430 billion yen from 1,179.083 billion yen a year ago.
For the full year, the company expects ordinary profit to increase 42.4 percent to 1,200 billion yen and net income to grow 25 percent to 870 billion yen. Net income per basic share for the year is expected at 443.57 yen.
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