TOKYO, Aug. 27 /Xinhua-PRNewswire-FirstCall/ -- The Fuji Fire & Marine Co., Ltd., ("Fuji Fire and Marine" or "the Company"; TSE: 8763), one of Japan's oldest and most trusted names in insurance, released its first quarter 2007 results on Friday, August 17, 2007.
Net Premiums Written sustain growth in competitive market
-- Fuji Fire & Marine continued to move towards its three-year
management plan in Q107. Net Premiums Written stood at JPY 73.3
billion, up 0.2% from the same period in FY2006. The increase is a
result of the continued execution of the plan to deliver innovative,
value-added products as well as develop new sales channels since the
inception of the three-year management plan. Life premiums rose
9.5%, from JPY 7.0 billion to JPY 7.7 billion in 1Q07. Additionally,
Fuji Fire & Marine recorded Ordinary Income of JPY 3.5 billion and
Income of JPY 2.1 billion, in range for full-year forecasts.
< Non-consolidated Highlights >
-- Net Premiums Written increased to JPY 73.3 billion, up 0.2% on
continued successful execution of growth strategy
-- Fire and Accident & Health rose 3.7% and 4.7%, respectively, while
Motor continues to improve cost structure, down only 0.8%
-- Investment income increased to JPY 6.1 billion due to good returns
from the REIT market
-- No exposure to US subprime market-related Collateralized Debt
Obligations
< Consolidated Highlights >
-- Life premiums up 9.5%, from JPY 7.0 billion to JPY 7.7 billion
displaying new growth opportunities going forward
-- Ordinary Income of JPY 3.5 billion and Net Income of JPY 2.1 billion,
in range for full-year forecasts
Founded in 1918, Fuji Fire & Marine is one of Japan's oldest and most trusted names in insurance. Through its 200 offices nationwide, the Company is building on its tradition of excellence with a diverse family of products including the highly profitable and growing "Accident and Health" line of coverage and many other non-life insurance policies such as fire, automobile and marine.
News and other information about The Fuji Fire & Marine Co., Ltd. is available at http://www.fujikasai.co.jp/english/index.shtml
CONTACT:
Taijirou Sawa, Manager, Investor Relations
The Fuji Fire & Marine Co., Ltd.
2-12-18, Ginza, Chuo-ku, Tokyo 104-8122
Tel: +81-3-5550-4920
Email: taijirou_sawa@fujikasai.co.jp