February 14, 2011
Sony Financial Holdings Inc.

Summary Information on Sony Assurance’s Financial Results
for the Nine Months Ended December 31, 2010
<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. Solvency Margin Ratio

P.6

1. Balance Sheets(Millions of yen)
As of December 31, 2010

As of March 31, 2010

Cash and deposits

2,056

3,507

Securities

79,90873,234

Tangible fixed assets

397

325

Intangible fixed assets

3,309

1,912

Other assets12,767

13,553

Deferred tax assets

5,871

5,807

104,309

98,34082,45175,851

Reserve for outstanding losses

19,172

17,725

Underwriting reserves

63,27858,125

3,904

5,809

684

565

3,219

5,243

Reserve for employees’ retirement benefits

620

552

Reserve for directors’ retirement benefits

33

28

Reserve for employees’ bonuses

339

589

Reserve for price fluctuations and others

39

27

39

27

87,38882,858

Common stock

20,00020,000Capital surplus

20,00020,000Retained deficits(23,115)(24,543)

Total shareholders’ equity

16,884

15,456

Net unrealized gains on othersecurities, net of taxes

36

25

Total valuation and translation
adjustments

36

25

Total Net Assets

16,921

15,482

Total Liabilities and Net Assets

104,309

98,340Assets:Total Assets
Liabilities:
Underwriting reserves

Other liabilities
Income taxes payable

OthersReserve for price fluctuations
Total Liabilities
Net Assets:
Shareholders’ equity

Valuation and translation adjustments22. Statements of Income(Millions of yen)
For the nine months ended
December 31, 2009

For the nine months ended
December 31, 2010

50,94755,60350,41755,01550,39354,993

23

22

511

570

517

584

73(23)

(22)

18

16

49,13753,286

Underwriting expenses

37,18540,472(Net losses paid)

25,39929,326(Loss adjustment expenses)

2,981

3,541

969

1,004

(Provision for reserve for outstanding losses)

1,551

1,446

(Provision for underwriting reserves)

6,283

5,153

Ordinary Revenues
Underwriting income(Net premiums written)(Interest and dividends on deposits of premiums)
Investment income(Interest income and dividends)(Gains on sale of securities)(Transfer to interest and dividends on deposits of premiums)

Other ordinary income
Ordinary Expenses(Net commissions and brokerage fees)

Investment expenses(Losses on sale of securities)
Operating, general and administrative expenses

13-

12-

11,926

12,780

1333

1,809

2,316

3747

Losses on sale or disposal of fixed assets

2635

Provision for reserve for price fluctuations and others

1011

Other ordinary expenses
Ordinary Profit
Extraordinary Losses

1011

Income Before Income Taxes

1,772

2,269

Income Taxes –current

1,341

911

Income Taxes –deferred(764)(70)

Total Income Taxes

576

840

1,195

1,428

Provision for reserve for price fluctuations

Net Income3

3. Financial Summary (Year-on-Year Comparison)(Millions of yen)
For the nine months
ended
December 31, 2009

For the nine months
ended
December 31, 2010

Change(Amount)

Change(%)

Gross direct premiums written

50,13354,596

4,462

8.9 %

(Direct premiums written)

50,13354,5964,462

8.9

50,41755,015

4,598

9.1

50,39354,993

4,599

9.1

Underwriting expenses

37,18540,472

3,287

8.8(Net losses paid)

25,39929,326

3,927

15.5

(Loss adjustment expenses)

2,981

3,541

560

18.8

969

1,004

34

3.6

511

570

59

11.7

517

584

66

12.9

7

3

(4)

(60.0)

13－(13)(100.0)12－(12)(100.0)11,926

12,780853

7.2

11,866

12,721

855

7.2

5

(16)

(22)

(396.4)

1,809

2,316

507

28.0

1,365

1,820

455

33.4

Extraordinary Gains－－－－

Extraordinary Losses

3747

10

28.2

Extraordinary Gains (Losses), net

(37)

(47)

(10)

－

Income Before Income Taxes

1,772

2,269

496

28.0

Income Taxes–current

1,341

911

(430)

(32.1)

Income Taxes–deferred(764)

(70)

694－

576

840

263

45.8

Net Income

1,195

1,428

232

19.5

RatiosNet loss ratio

56.3%

59.8%

Net expense ratio

25.5%

25.0%

Underwriting income(Net premiums written)(Net commissions and brokerage fees)
Investment income(Interest income and dividends)(Gains on sale of securities)
Investment expenses(Losses on sale of securities)
Operating, general and administrative expenses(Operating, general and administrative expenses
related to underwriting)
Other ordinary income (expenses), net
Ordinary Profit(Underwriting profit)

Total Income Taxes

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 losses 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 premiums written x 100)

44. Premiums and Losses Paid by Type of Policy
Direct premiums written(Millions of yen)
For the nine months ended
December 31, 2010

For the nine months ended
December 31, 2009
AmountYoY Change

Composition%

Fire

215

AmountComposition YoY Change%

0.4(18.9)

%
120%

0.2

(44.3)－－－－－－

Personal accident

5,187

10.3

4.6

5,339

9.8

2.9

Voluntary automobile

44,731

89.2

11.4

49,136

90.0

9.8

－

－－－－－

50,133

100.0

10.5

54,596100.0

8.9

MarineCompulsory automobile liability

Total
Net premiums written(Millions of yen)

For the nine months ended
December 31, 2010

For the nine months ended
December 31, 2009

AmountFire

Composition

YoY Change%%90.0(24.7)

AmountComposition YoY Change%

5%

0.0

(43.0)(2)(0.0)(106.6)20.0－

Personal accident

5,360

10.6

3.9

5,507

10.0

2.7

Voluntary automobile

44,55788.4

11.4

48,934

89.0

9.8

468

0.9

23.7

543

1.0

16.0

50,393

100.0

10.6

54,993100.0

9.1

MarineCompulsory automobile liability

Total
Net losses paid

(Millions of yen)

For the nine months ended
December 31, 2009
Amount

For the nine months ended
December 31, 2010

YoY Change

Net loss ratio%%

AmountYoY Change Net loss ratio
%

%

Fire0

3.5

72.0

0

172.4

109.1

Marine2(79.7)

－10

371.6

462.9

Personal accident

1,106

10.5

22.8

1,179

6.5

24.1

Voluntary automobile

23,891

15.3

60.0

27,633

15.7

63.4

399

9.9

85.2

502

25.9

92.5

25,39915.0

56.3

29,326

15.5

59.8

Compulsory automobile liability

Total5

5. Solvency Margin Ratio(Millions of yen)
As of December 31, 2010

As of March 31, 2010

(A) Total solvency margin

29,001

27,444

Capital or treasury

16,884

15,45639

27

Reserve for price fluctuations
Contingency reserve

76

Catastrophe reserve

12,017

11,918Reserve for possible loan losses--

Net unrealized gains on other securities(before subtracting tax effects)

52

36

Net unrealized gains on real estate--

Excess refund reserve--

Subordinated debt--

Deductible items

--

-

-

5,738

5,388

4,942

4,599

Other(B) Total risk

22

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

Ordinary insurance risk (R1)
Third-sector insurance risk (R2)00

Assumed interest rate risk (R3)1110

Asset management risk (R4)

226

288

Business management risk (R5)

173

165

Major catastrophe risk (R6)

615

614

1,010.8 %1,018.5 %Solvency margin ratio(C)[(A)／{(B)×1/2}]×100

Note: The foregoing figures were calculated based on provisions in Articles 86 and 87 of the Insurance Business Law Enforcement Regulations
and Ministry of Finance Announcement No. 50 (1996). A part of calculations for major catastrophe risk as of December 31, 2010, are calculated

according to simplified 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 the event of a major catastrophe or a dramatic drop in thevalue 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 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 Law of Japan, based on its percentage holdings of capital andother 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 risks(Ordinary insurance risks)(Third-sector insurance risks):Risks outside the scope of risk incorporated into the rate of accident occurrence (excluding major catastrophe risks)(2) Assumed interest rate risks:Risks that actual investment yields will fall below the investment yield assumed when calculating premiums(3) Asset management risks:Risks arising from such factors as unexpectedly large fluctuations in prices on owned securities and other assets(4) Business management risks:Unexpected risks to business management other than (1) through (3) above and (5)(5) Major catastrophe risks:Risks arising from major catastrophes (such as the Great Kanto Earthquake and the Ise Bay Typhoon)

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 the insurer’s net assets (excluding
the amount of expected outflow from the company), reserves (such as the reserve for price fluctuations and catastrophe reserve) and a portion of its net
unrealized gains on real estate.
The 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