Capital Insurance Corporation
Company Profile / Financial Information 2024

Contents
Company Profile ......................................................................... 3
Financial Highlights ..................................................................... 4
Balance Sheet ............................................................................ 5
Income Statement ....................................................................... 7
Cash Flow Statement ................................................................. 82

Company Profile(As of July 1, 2024)

FoundedJune 1994

Capital

6.2 billion yen

Total Assets

22.0 billion yen（As of March31, 2024）

Head Office

1-8-10,Kudan-kita, Chiyoda-ku, Tokyo, Japan

Directors and Officers*1
Representative Director and President
DirectorDirectorDirector（Part time）
Corporate Auditor（Full time）
Corporate Auditor (Part time)
Corporate Auditor (Part time)

Mr. Tomoya Sakaguchi
Mr. Hiroyuki Saito
Mr. Nobuya Tsurumi
Mr. Katsuya Kitahara
Mr. Masao Nishida
Mr. Kazuya Osawa
Mr. Kazuhiro Sumikama

Number of Employees

89（As of April1, 2024)

Number of Agents

169（As of March31, 2024）

Shareholders

Mitsubishi HC Capital Inc. (79.4%)
Sompo Japan Insurance Inc. (20.6%)

RatingStandard and Poor’s(Insurer Financial Strength Rating)Japan Credit Rating Agency(Ability to Pay Insurance Claims Rating)

A- *1
AA*2

*1
We receive explicit support from the parent company, Mitsubishi HC Capital Inc., in the form of theunconditional guarantee on the execution of payment obligations to insurance beneficiary inaccordance with the provisions of our insurance policies.
Reflecting the above, we have acquired A- rating from Standard and Poor's.
*2 Guarantee byMitsubishi HC Capital Inc.
Company History
June 1994:

Established as Unum Japan Accident Insurance Co. Ltd.

January 2004:

Purchased by Hitachi Capital(renamed Mitsubishi HC Capital ), renamedHitachi Capital Insurance Corporation.

3

Financial Highlights
Fiscal year ended March 31, 2024 (April 1, 2023 to March 31, 2024)
Net premiums written

6,941 million yen

A increase of 13.5 percentage from the previous year

Net loss ratio

33.0 %A increase of 0.9 percentage points from the previous year

Net expense ratio

46.1 %A increase of 1.5 percentage points from the previous year

Underwriting profit

656 million yen

A increase of 138 million yen from the previous year

Ordinary income

705 million yen

A increase of 152million yen from the previous year

Net income

507 million yen

A increase of 104 million yen from the previous year

Solvency margin ratio *2,129.0 %A decrease of 121.9 percentage points from the previous year

Total assets

22,058 million yen

An increase of 1,256 million yen from the previous year

Net assets

8,110 million yen

An increase of 473 million yen from the previous year

Net unrealized gains
on securities△111 million yen

An decrease of 33 million yen from the previous year

* Solvency Margin Ratio is the ratio of “solvency margin of insurance companies by means of their capital,reserves, etc.” to “risks which will exceed their normal estimates” , i.e. occurrence of major catastrophes andbig decline in value of assets held by insurance companies , and is one of the indicators to monitor financial
soundness of insurance companies.

4

Balance Sheetin millions of yen

Year
Item

FY2022

FY2023(As of March 31, 2023） (As of March 31, 2024）% Increase(Decrease)(Assets)
Cash and deposits

4,722

5,926

4,722

5,926

13,868

13,794Government bonds

1,964

1,941

Corporate bonds

11,903

11,852182182

Ordinary loans

182

182

Tangible fixed assets

3320Buildings118

preliminary Building Account

11－

Other tangible fixed assets

1111Intangible fixed assets

139136

Software

8136

130－

00583

697

Premiums receivable

9945

Agent accounts receivable

186

195

Coinsurance accounts receivable

23

223

Reinsurance accounts receivable
Foreign reinsurance accounts
receivable
Other accounts receivable

81466

33

22

Income taxes receivable25－

Accrued income

1310Cash segregated as deposits

9393

Suspense payments

6578

Prepaid pension costs

7773

（5.7）

Deferred tax assets

1,195

1,227

2.7（0）－－

20,802

22,0586.0

Deposits
Securities

Loans

Software in progress
Other intangible fixed assets
Other assets

Allowance for doubtful accounts
Total assets

25.5

（0.5）

0.4

（38.6）

（2.4）

19.5

5

Balance Sheetin millions of yen

FY2022

FY2023(As of March 31, 2023）(As of March 31, 2024）% Increase(Decrease)

12,05812,853

6.6

Outstanding claims reserve

6,514

6,972

Underwriting reserve

5,544

5,880

923896

Coinsurance accounts payable

12056

Reinsurance accounts payable

14930Foreign reinsurance accounts payable

90103

Income taxes payable

21155

Other accounts payable

228

135

Suspense receipts

313

415

Provision for retirement benefits

91

99

7.8

Reserve for bonus payments

81

86

6.1

Reserves under the special laws

912

29.6

9

12

13,165

13,947

5.9

Capital

6,200

6,200

0.0

Capital surplus

1,600

1,600

0.0

1,600

1,600

Retained earnings

（85）

421

Other retained earnings
Retained earnings carriedforward
Total shareholders’ equity

（85）

421

（85）

421

7,714

8,221

Net unrealized gains on securities

（77）

（111）

Total valuation and translation adjustments

（77）

（111）

－

Total net assets

7,637

8,110

6.2

Total liabilities and net assets

20,802

22,058

6.0

Year
Item

(Liabilities)
Insurance liabilities reserve

Other liabilities

Reserve for price fluctuations
Total liabilities（2.9）(Net assets)

Capital reserve

－

6.6

6

Income Statementin millions of yen
Year
ItemOrdinary
income andexpenses

FY2022

FY2023(From April 1, 2022
to March 31, 2023)(From April 1, 2023
to March 31, 2024)% Increase(Decrease)

6,163

6,996

13.5

6,115

6,941

13.5

6,1156,941

0－

2530

2530

2224

Reversal of reserve for doubtful
accounts－0

Other ordinary income

22

23

5,609

6,290

12.1

Underwriting expenses

4,274

4,872

14.0

Net claims paid

1,821

2,126

Loss adjustment expenses

143

165

Agency commissions andbrokerage
Payment reserve provision
Provision for underwriting
reserves
Investment expenses
Loss on sale of securities
Operating, general, andadministrative expenses
Other ordinary expenses
Provision of allowance for doubtful
accounts
Other ordinary expenses

1,402

1,786

174

458

731

336

66－－

（100.0）

1,329

1,417

6.7

000－

233.4

00553

705

27.5

3－
300－

（100.0）－3

100.0－－02

Income before income taxes

556

702

26.1

Corporate income taxes and other taxes

155

214

37.5

Deferred income taxes

（1）

（19）

925.5

Total income taxes

153

195

26.8
7

Net income

403

507

25.9

Ordinary income
Underwriting income
Net premiums written
Other underwriting income
Investment income
Interest and dividend income
Other ordinary income

Ordinary expenses

Ordinary profit
Extraordinary Extraordinary gains
Gain on disposal of fixed assets
gains andReversal of reserve for pricelossesfluctuation
Extraordinary losses
Loss on disposal of noncurrent assets
Provision for reserve for pricefluctuations

18.2
10.0

Cash Flow Statementin millions of yenYear
Item

Cash flows from operating activities
Pretax current net income (loss)

FY2022

FY2023(From April 1, 2022
to March 31, 2023)(From April 1, 2023
to March 31, 2024)

556

702

Depreciation and amortization

1837

Increase (decrease) in outstanding claims reserve

174458

Increase (decrease) in underwriting reserve

731

336

Increase (decrease) in allowance for doubtful accounts

0（0）Increase (decrease) in provision for retirement benefits（8）7Increase (decrease) in reserve for bonus payments

（20）

4

Increase (decrease) in reserve for price fluctuations
Interest and dividend income

（3）

2（25）

（30）

6－－0（81）

（143）

440

（166）

1,788

1,209

48

56（556）55

Total cash flows from operating activities

1,280

1,321

Cash flows from investing activities
Expenditures for acquisition of securities（3,521）

（996）

894

1,000－－（1）0Total investing activities（2,627）

3

Total operating and investing activities（1,347）（1,324）

（134）
－（0）
0

Losses(gains) related to securities
Losses(gains) related to tangible fixed assets
Decrease (increase) in other assets (excluding
investing and financing activities)
Increase (decrease) in other liabilities (excluding
investing and financing activities)
SubtotalInterest and dividends received
Income taxes paid

Proceeds from sales and redemption of securities
Loan expenditure
Payments of loans receivableCollection of loas receivable

Expenditures for acquisition of tangible fixed assets
Proceeds from sales of property, plant and equipment
Other
Total cash flows from investing activities－（120）（2,761）

（117）

－－－－

Cash flows from financing activities
Total cash flows from financing activities
Effect of exchange rate changes on cash and cash equivalents
Increase (decrease) in cash and cash equivalents（1,481）

1,203 8Cash and cash equivalents: Beginning balance

6,204

4,722

Cash and cash equivalents: Ending balance

4,722

5,926

Capital Insurance Corporation
Sumitomo Fudosan Kudan Building 11F
1-8-10, Kudankita , Chiyoda-ku, Tokyo, 102-0073 Japan