August 12, 2013
Sony Financial Holdings Inc.

Summary Information on Sony Assurance’s Financial Results
for the Three Months Ended June 30, 2013
<Contents>
1. Balance Sheets

P.2

2. Statements of Income

P.3

3. Financial Summary (Year-on-Year Comparison)

P.4

4. Premiums and Losses Paid by Type of Policy

P.5

5. Non-consolidated Solvency Margin Ratio

P.61

1. Balance Sheets(Millions of yen)
As of March 31, 2013

As of June 30, 2013

Assets:Cash and deposits

8,443

6,678

Securities

88,67094,976

Tangible fixed assets

1,160

1,374

Intangible fixed assets

7,515

7,602

Other assets

17,677

16,435

Deferred tax assets

3,953

3,777

127,421130,843

99,209102,232

Reserve for outstanding losses

28,59928,547

Underwriting reserves

70,60973,685

6,537

6,049

227

571

6,309

5,477

Reserve for employees’ retirement benefits

850

874

Reserve for directors’ retirement benefits

53

13

Reserve for employees’ bonuses

756

425

Reserve for price fluctuations and others

80

83

80

83

107,487

109,679

Common stock

20,00020,000Capital surplus

20,00020,000Retained deficits(20,492)(19,622)

Total shareholders’ equity

19,507

20,377Net unrealized gains on other securities, net of taxes

426

787

Total valuation and translation adjustments

426

787

19,934

21,164

127,421130,843

Total Assets
Liabilities:
Underwriting reserves

Other liabilities
Income taxes payable
OthersReserve for price fluctuations
Total Liabilities
Net Assets:
Shareholders’ equity

Valuation and translation adjustments

Total Net Assets
Total Liabilities and Net Assets

22. Statements of Income(Millions of yen)
For the three months ended
June 30, 2012
Ordinary Revenues

For the three months ended
June 30, 2013

21,751

23,091

21,48922,803

21,481

22,741(Interest and dividends on deposits of premiums)

88(Reversal of reserve for outstanding losses)

-

52

231

283

(Interest income and dividends)

226

291

(Gains on sale of securities)

13-(Transfer to interest and dividends on deposits of premiums)

(8)

(8)

30

4

21,025

21,749Underwriting expenses

16,131

16,730(Net losses paid)

11,461

11,745(Loss adjustment expenses)

1,395

1,490

(Net commissions and brokerage fees)

400

418

(Provision for reserve for outstanding losses)

372

-

2,501

3,075

0

1

4,891

5,014

23

Ordinary Profit

725

1,342

Extraordinary Gains--

Extraordinary Losses

43434

3

Income Before Income Taxes

721

1,338

Income Taxes –current

114

453

Income Taxes –deferred

157

15

Total Income Taxes

272

468

Net Income

449

869

Underwriting income(Net premiums written)

Investment income

Other ordinary income
Ordinary Expenses(Provision for underwriting reserves)

Investment expenses
Operating, general and administrative expenses
Other ordinary expenses

Provision for reserve for price fluctuations and others
Provision for reserve for price fluctuations

33. Financial Summary (Year-on-Year Comparison)(Millions of yen)
For the three months
ended
June 30, 2013

For the three months
ended
June 30, 2012

Change(Amount)

Change(%)

Gross direct premiums written

21,21422,420

1,206

5.7 %

(Direct premiums written)

21,21422,4201,206

5.7

21,48922,8031,313

6.1

21,481

22,741

1,259

5.9

Underwriting expenses

16,131

16,730598

3.7(Net losses paid)

11,461

11,745284

2.5(Loss adjustment expenses)

1,395

1,490

94

6.8

(Net commissions and brokeragefees)

400418174.4

231

283

51

22.4

(Interest income and dividends)

226

291

65

29.0

(Gains on sale of securities)

13－

(13)

(100.0)01

01,233.3

4,891

5,014

123

2.5

4,865

4,992

127

2.6

Other ordinary income, net

27

1

(26)

(93.8)

Ordinary profit

725

1,342

616

85.0

491

1,080

588

119.7

－

－－－

Extraordinary Losses

4

3

(0)

(13.6)

Extraordinary gains (losses), net

(4)

(3)

0－

Income before income taxes

721

1,338

617

85.6

Income taxes -current

114

453

339

297.1

Income taxes -deferred15715(142)(90.2)

Total income taxes

272468196

72.3

Net Income

449

869

420

93.6

Net loss ratio

59.9%

58.2%

Net expense ratio

24.5%

23.8%

Underwriting income(Net premiums written)

Ordinary Income (expenses)

Investment income

Investment expenses
Operating,( pg ggeneral and administrativep expenses
related tounderwriting)(Underwriting profit)
Extraordinarygains (losses)

Extraordinary Gains

Ratios

Notes: 1. Underwriting profit = Underwriting income – (Underwriting expenses + Operating, general and administrative expenses related to underwriting) ± Other income (expenses)
Other income (expenses) is the amount equivalent to the corporate income taxes for compulsory automobile liability insurance, etc.
2. Ratios are calculated as follows:
Net loss ratio=(Net loss paid + Loss adjustment expenses) / Net premiums written x 100
Net expense ratio=(Net commissions and brokerage fees + Operating, general and administrative expenses related to underwriting) / Net premium written x 100

44. Premiums and Losses Paid by Type of Policy
Direct Premiums Written(Millions of yen)
For the three months ended
June 30, 2012AmountFor the three months ended
June 30, 2013

Composition YoY Change%

AmountComposition%

YoY Change%%

Fire630.3

97.9

550.2(13.2)

Marine－－－－－－

Personal accident

1,931

9.1

6.9

2,044

9.1

5.9

Voluntary automobile

19,21990.6

5.7

20,321

90.6

5.7

－

－－－－－

21,214100.0

6.0

22,420100.0

5.7

Compulsory automobile liability

Total
Net Premiums Written(Millions of yen)

For the three months ended
June 30, 2012
Amount

For the three months ended
June 30, 2013

Composition YoY Change%

AmountComposition%

YoY Change%%

Fire

690.3

11.6

740.3

8.5

Marine420.2

1,409.6

440.2

3.1

Personal accident

2,001

9.3

6.8

2,124

9.3

6.1

Voluntary automobile

19,15089.1

5.7

20,257

89.1

5.8

217

1.0

45.1

241

1.1

10.8

21,481

100.0

6.3

22,741100.0

5.9

Compulsory automobile liability

Total
Net Loss Paid(Millions of yen)

For the three months ended
June 30, 2012
Amount

For the three months ended
June 30, 2013

YoY Change Net loss ratio%

AmountYoY Change%

Net loss ratio%%

Fire0(95.3)

9.00(63.1)

3.6

Marine122

1,370.0285.532(73.6)

73.1

Personal accident
Voluntary automobile
Compulsory automobile liability

Total

467

9.5

26.6

463

(0.9)

24.8

10,631

10.4

62.4

10,994

3.4

61.3

239

21.3

109.8

255

6.6

105.7

11,461

11.6

59.9

11,745

2.5

58.2

5

5. Non-consolidated Solvency Margin Ratio(Millions of yen)
As of March 31, 2013

As of June 30, 2013

27,37029,12919,507

20,377

Reserve for price fluctuations

80

83

Contingency reserve

6365

Catastrophe reserve

7,164

7,579

General reserve for possible loan losses--Net unrealized gains on other securities(before subtracting tax effects)

554

1,023

-

-

----

(R1+R2) +(R3+R4) +R5+R6

10,855

10,877

Ordinary insurance risk

（Ｒ1）

9,865

9,866

Third-sector insurance risk

（Ｒ2）

--

Assumed interest rate risk （Ｒ3）6770(A) Total non-consolidated solvency margin
Capital or treasury

Net unrealized gains on real estate
Excess refund reserve
Subordinated debt
The portion of the excess refund reserve and subordinateddebt that is not included in the margin
Deductible itemsOthers(B) Total non-consolidated risk22（Ｒ4）

485

631

Business management risk （Ｒ5）331

336（Ｒ6）643

650504.2 %

535.5 %

Asset management risk
Major catastrophe risk

Non-consolidated solvency margin ratio(C)[(A)／{(B)×1/2}]×100[(A)／{(B)1/2}] 100

Note: The figures were calculated based on provisions in Articles 86 and 87 of the Ordinance for Enforcement of the Insurance Business Act ofJapan and Ministry of Finance Public Notice No. 50 of 1996. A part of calculations for non-consolidated solvency margin ratio as ofJune 30, 2013 is calculated according to simplified methods in major catastrophe risk. The figure is assumed to be equivalent to theamount as of March 31, 2013.
<Non-consolidated Solvency Margin Ratio>
Non-life insurance companies maintain reserves to ensure their ability to pay claims when accidents occur and return contracted amounts at maturity
on savings-type insurance. Non-life insurance companies must also maintain sufficient ability to pay in the event of a major catastrophe or a dramaticdrop in the value of the assets they hold—risk events outside the normal scope of expectations.
Total risk (item (B) in the table above) indicates dangers outside the general scope of expectations. The non-consolidated solvency margin ratio(item (C) in the table above) is an indicator of an insurer’s ability to pay, calculated as prescribed by the Insurance Business Act of Japan, basedon its percentage holdings of capital and other reserves (in other words, the total solvency margin: as indicated by (A) above)“Risk events outside the normal scope of expectations” refers to the total of the amounts represented by the following risks;(1) Insurance underwriting risk
:Risk outside the scope of risk incorporated into the rate of accident occurrence (excluding major(Ordinary insurance risk)
catastrophe risk)(Third-sector insurance risk)(2) Assumed interest rate risk

(4) Business management risk

:Risk that actual investment yields will fall below the investment yield assumed when calculating
premiums:Risk arising from such factors as unexpectedly large fluctuations in prices on held securities andother assets:Unexpected risk to business management other than (1) through (3) above and (5)(5) Major catastrophe risk

:Risk arising from major catastrophes (such as the Great Kanto Earthquake and the Ise Bay Typhoon)(3) Asset management risk

A non-life insurer’s ability to pay (total non-consolidated solvency margin), as indicated by such factors as its capital and reserves is the total of theinsurer’s net assets (excluding the amount of expected outflow from the company), reserves (such as the reserve for price fluctuations and catastrophereserve) and a portion of its net unrealized gains on real estate.
The non-consolidated solvency margin ratio is one of the objective indicators used by the insurance regulatory authorities to supervise insurers. If
this ratio is 200% or higher, an insurer is judged to have sufficient ability to satisfy claims and other payments.

6