February 12, 2010
Sony Financial Holdings Inc.

Summary Information on Sony Assurance’s Financial Results
for the Nine Months Ended December 31, 2009<Contents>
1. Balance Sheets
2. Statements of Income
3. Financial Summary (Year-on-Year Comparison)
4. Premiums and Losses Paid by Type of Category
5. Solvency Margin Ratio

1

P.2
P.3
P.4
P.5
P.6

1. Balance Sheets(Millions of yen)
As ofDecember 31, 2009

As ofMarch 31, 2009

Assets:Cash and deposits

1,931

2,819

Securities

72,73664,309Tangible fixed assets

329270Intangible fixed assets

2,379

1,898Other assets

11,34012,139Deferred tax assets

6,015

5,260

94,732

86,69874,35566,520Reserves for outstanding losses

17,28015,729Underwriting reserves

57,07450,791

4,424

5,411

1,160

556

0

1

3,263

4,853

Reserve for employees’ retirement benefits

525

462

Reserve for directors’ retirement benefits

2637

Reserve for employees’ bonuses

311

575

Reserve for price fluctuations and others

23

1223

12

79,66673,020Common stock

20,00020,000Capital surplus

20,00020,000Retained deficits(24,952)(26,147)

15,047

13,852Net unrealized losses on other securities, net of taxes

18(173)

Total valuation and translation adjustments

18(173)15,065

13,67894,732

86,698

Total assets
Liabilities:
Policy reserves and others

Other liabilities
Income taxes payable
Lease obligations
OthersReserve for price fluctuations
Total Liabilities
Net Assets:
Stockholder’s Equity

Total stockholder’s equity
Valuation and translation adjustment

Total Net Assets
Total Liabilities and Net Assets

22. Statements of Income(Millions of yen)
For the nine months ended
December 31, 2008

For the nine months endedDecember 31, 2009

46,13950,94745,60950,41745,58050,393

28

23503

511

Interest income and dividends

512

517

Gains on sale of securities

18

7

(28)

(23)

26

18

44,682

49,137

Underwriting expenses

33,51437,185Net losses paid

22,09225,399Loss adjustment expenses

2,702

2,981

789

969

Provision for reserve for outstanding losses

1,577

1,551

Provision for underwriting reserve

6,352

6,283

116

13

Losses on sale of securities

28

12

Devaluation losses on securities

86－

11,045

11,926

5

13

1,456

1,809

27－

27－27－

3,819

37

3,819

26－

10－

10(2,335)

1,772

Income taxes –Current

248

1,341

Income taxes –Deferred(638)

(764)

－576

(1,945)

1,195

Ordinary revenues
Underwriting income
Net premiums written
Interest and dividends on deposits of premiums
Investment income

Transfer to interest and dividends on deposits ofpremiums
Other ordinary income
Ordinary expenses

Net commissions and brokerage fees

Investment expenses

Operating, general and administrative expenses
Other ordinary expenses
Ordinary profit
Extraordinary gains
Reversal of reserve for price fluctuations and others
Reversal of reserve for price fluctuations
Extraordinary losses
Losses on sale or disposal of fixed assets
Provision for reserve for price fluctuations and others
Provision for reserve for price fluctuations
Income before income taxes

Total income taxes
Net income

33. Financial Summary (Year-on-Year Comparison)(Millions of yen)

Net premiums written

2008

2009

Change (Amount)

Change (%))

50,13350,13350,41750,39337,18525,399

4,756
4,756
4,807
4,813
3,670
3,307

10.5
10.5
10.5
10.6
11.015.0)

2,702

2,981

279

10.3)

789

969

180

22.8

503

511

7

1.5

Underwriting income(For the nine months
ended December 31,45,377
45,37745,60945,58033,51422,092Gross direct premiums written( Direct premiums written )Underwriting expenses( Net losses paid
Loss adjustment(expenses
Net commissions and(brokerage fees

For the nine months
ended December 31,)

Investment income(Interest and dividends)

512

517

51.0

(

Gains on sale ofsecurities)

18

7(10)

(58.9)

Investment expenses

116

13(103)(88.7)

Losses on sale of()securitiesDevaluation losses on()
securities
Operating, general andadministrative expenses（Operating, general andadministrative expenses forunderwriting）

28

12(16)(57.0)

86－

(86)

(100)

11,045

11,926880

8.0

11,012

11,866

854

7.8

20

5(14)

(72.4)

Ordinary profits

1,456

1,809

352

24.2

(Underwriting profits)

1,082

1,365

282

26.1

Extraordinary gains

27－

(27)

(100.0)Extraordinary losses

3,819

37

(3,782)(99.0)

Extraordinary gains (losses), net(3,792)

(37)

3,754

－

Income before income taxes(2,335)

1,772

4,107－

Income taxes-Current

248

1,341

1,093

439.9

Income taxes-Deferred(638)

(764)

(125)

－－

576－

－

(1,945)

1,195

3,140－Net loss ratio (%)

54.4

56.3

Net expense ratio (%)

25.9

25.5

Other ordinary income, net

Total income taxes
Net income
Ratios

Notes: 1. Underwriting profits = Underwriting income – (Underwriting expenses + Operating, general and administrative expenses forunderwriting) ± Other income and expenses. Other income and expenses are such as corporate taxes associated with compulsory
automobile liability insurance.
2. Ratios are calculated as follows.
Net loss ratio = (Net losses paid + Loss adjustment expenses) / Net premiums written x 100
Net expense ratio =(Net commissions and brokerage fees+ Operating, general and administrative expenses for underwriting) / Net
premiums written x 100

44. Premiums and Losses Paid by Type of Category
Direct Premiums Written（Millions of yen）
For the nine months ended December 31, 2008
AmountComposition

Change(%)(%)

For the nine months ended December 31, 2009
AmountComposition

Change(%)(%)

Fire265

0.6

32.72150.4(18.9)

Marine－－－－－－Personal accident

4,959

10.9

5.3

5,187

10.3

4.6

Voluntary automobile

40,15288.5

11.5

44,731

89.2

11.4

－－－－

－

－

45,377

100.0

10.9

50,133

100.0

10.5

Compulsory
automobile liability
Total

Net Premiums Written（Millions of yen）
For the nine months ended December 31, 2008
AmountComposition

Change(%)(%)

For the nine months ended December 31, 2009
AmountComposition

Change(%)

(%)

Fire

13

0.0

10.9

90.0(24.7)

Marine32

0.1(16.0)(2)(0.0)(106.6)

Personal accident

5,159

11.3

6.6

5,360

10.6

3.9

Voluntary automobile

39,99787.8

11.5

44,557

88.4

11.4

378

0.8(12.4)

468

0.9

23.7

45,580

100.0

10.7

50,393

100.0

10.6

Compulsory
automobile liability
Total

Net Losses Paid（Millions of yen）
For the nine months ended December 31, 2008
AmountChangeNet loss ratio

(%)

(%)

For the nine months ended December 31, 2009
AmountChangeNet loss ratio

(%)

(%)

Fire0(37.6)

75.0

0

3.5

72.0

Marine11(35.1)

35.3

2(79.7)－Personal accident

1,001

11.6

22.11,106

10.5

22.8

Voluntary automobile

20,71515.5

58.2

23,891

15.3

60.0

363

8.8

95.9

399

9.9

85.2

22,092

15.1

54.4

25,39915.0

56.3

Compulsory
automobile liability
Total

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5. Solvency Margin Ratio（Millions of yen）
As of December 31, 2009

As of March 31, 2009(A)Total solvency margin
Capital or treasury
Reserve for price fluctuations
Contingency reserve
Catastrophe reserve
Reserve for possible loan losses
Net unrealized gains on other securities(before subtracting tax effects)
Net unrealized gains on real estate
Excess refund reserveSubordinated debt
Deductible items
Other(B)Total risk√ (Ｒ1+Ｒ2)2+(Ｒ3+Ｒ4)2｝+Ｒ5+Ｒ6

27,097
15,04723
511,995-24,195
13,85212
310,500-25(173)

-

-

5,252

4,872

Ordinary insurance risk（Ｒ1）

4,467
0
9279
161
615

4,097
08294
150
614

Third-sector insurance risk（Ｒ2）Assumed interest rate risk（Ｒ3）Asset management risk（Ｒ4）Business management risk（Ｒ5）Major catastrophe risk（Ｒ6）(C)Solvency margin ratio (%)
1,031.7
993.0［(A) /｛(B)×1/2｝］×100
Note: Calculations and figures included in the chart above apply the methods provided for under Articles 86 and 87 of the Insurance
Business Law of Japan enforcement regulations, as stipulated in 1996 Ministry of Finance Official Notification No. 50. A
part of calculations for major catastrophe risk as of December 31, 2009, are calculated according to methods judged rational by
Sony Assurance.
<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 theevent of a major catastrophe or a dramatic drop in the value of the assets they hold—risk events outside the normal scope ofexpectations.
Total risk (item (B) in the table above) indicates dangers outside the general scope of expectations. The 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 Lawof Japan, based on 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.
Insurance underwriting risks(Ordinary insurance risks)(Third-sector insurance risks)
Assumed interest rate risks
Asset management risks
Business management risks
Major catastrophe risks

Risks outside the scope of risk incorporated into the rate of accident
occurrence (excluding major catastrophe risks)
Risks that actual investment yields will fall below the investment yield assumed whencalculating premiums
Risks arising from such factors as unexpectedly large fluctuations in prices on owned
securities and other assets
Unexpected risks to business management other than 1) through 3) and 5) above
Risks arising from major catastrophes (such as the Great Kanto Earthquake and the Ise BayTyphoon)

A non-life insurer’s ability to pay (total solvency margin), as indicated by such factors as its capital and reserves is the total of theinsurer’s total net assets (excluding the amount of expected outflow from the company), reserves (such as the reserve for pricefluctuations and catastrophe reserves) and a portion of its net unrealized gain on real estate.
The solvency margin ratio is an objective indicator used by the insurance regulatory authorities to supervise insurers. If this ratio is200% or higher, an insurer is judged to have sufficient ability to satisfy claims and other payments.

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