New Mid-Term Management Plan (FY2024-2026)
For a future of "Health, Wellbeing & Financial Protection″

May 28, 2024

Table of Contents
Executive Summary
Numerical Management Target under the New Mid-Term Management Plan
Ⅰ．Review of Previous Mid-Term Management Plan

3
4

Governance Structure
Recurrence Prevention Measures (Main Progress)

Achievements and Challenges during the Previous Mid-Term Management Plan

6
7
8
9
10
11
12

ESG (Sustainability : Climate Action)
Enhance Enterprise Value and Valuations while Growing Sustainably
Ⅲ．Business Strategy
New Sompo Japan (1) Review of the Previous Mid-Term Management Plan
New Sompo Japan (2) Main KPIs of the New Mid-Term Management Plan
New Sompo Japan (3) Overview of SJ-R
New Sompo Japan (4) Portfolio Reform
New Sompo Japan (5) Claims Service Reform
New Sompo Japan (6) Sales Reform

Profit and Capital Efficiency Reached Record Highs
Shareholder Return by Putting Words into Action and High EPS Growth
Resilience Increased through Scale and Diversification
Progress in Risk Reduction, Capital Allocation to Growth Areas, and Pursuit of a Conglomerate Premium

Steady Progress in Building a Business Foundation for the SOMPO’s Mid- to Long-Term Growth

Stock Price Rose Sharply and Valuations Improved Substantially
Ⅱ．New Mid-Term Management Plan
Management Targets and Main KPIs
Challenges under the New Mid-Term Management Plan (1) Changes in the Business Environment

Challenges under the New Mid-Term Management Plan (2) Occurrence of the Recent Problems

SOMPO Group Vision and Role of the New Mid-Term Management Plan
Overview of the New Mid-Term Management Plan
Overview of SOMPO P&C
New Sompo Japan (1) Overview of “SJ-R”
New Sompo Japan (2) KPI
Overseas Growth Strategy (1) Overview
Overseas Growth Strategy (2) KPISOMPO Wellbeing (1) Overview
SOMPO Wellbeing (2) Addressing Social Challenges and Sustainable Growth
SOMPO Wellbeing (3) Domestic Life Insurance and Nursing Care Businesses
Finance Strategy (Promote Capital Circulation)
Risk Reduction: Accelerating the Pace of Reducing Strategic Holding Stocks
Approach to Risk-Taking (Organic Growth and Growth Investment)
Investment Strategy
Human Capital Investment
Data & Digital Strategy
Shareholder Return Policy

14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33

New Sompo Japan (7) Operational Reform (Culture Change, Strengthening Quality Management)
New Sompo Japan (7) Operational Reform (Data-Driven Operations, Human Capital Investment)
Overseas Insurance and Reinsurance Business (1) Review of Previous Mid-Term Management Plan
Overseas Insurance and Reinsurance Business (1) Review of Previous Mid-Term Management Plan (Improving Profitability and Stability)

Overseas Insurance and Reinsurance Business (3) Further Success for the New Mid-Term Management Plan

Overseas Insurance and Reinsurance Business (4) Main KPIs of the New Mid-Term Management Plan

Overseas Insurance and Reinsurance Business (5) Major Initiatives (Overview)
Overseas Insurance and Reinsurance Business (5) Major Initiatives (Progress in Geographical Expansion)

Overseas Insurance and Reinsurance Business (6) Gross Premium Written to Continue to Grow
Overseas Insurance and Reinsurance Business (7) Underwriting Margins Are Expected to Remain Stable across the Mid-Term Management Plan

Overseas Insurance and Reinsurance Business (8) Net Investment Income Continues to Expand

Wellbeing (Domestic Life Insurance) (1) Review of the Previous Mid-Term Management Plan
Wellbeing (Domestic Life Insurance) (2) Main KPIs of the New Mid-Term Management Plan

Wellbeing (Domestic Life Insurance) (3) Main Initiatives
Wellbeing (Nursing Care) (1) Review of the Previous Mid-Term Management Plan
Wellbeing (Nursing Care) (2) Main KPIs of the New Mid-Term Management Plan
Wellbeing (Nursing Care) (3) Main Initiatives
Reference
Definition of Financial Metrics
Management Targets

34
35
36
37
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
63
64

2

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Executive Summary✓
Review ofprevious
Mid-Term
Management Plan

VisionNew
Mid-Term
Management
Plan

✓
✓
✓

Steadily implemented the main initiatives (scale & diversification, future nursing care, risk reduction, growth investment) under
the last Mid-Term Management Plan (MTMP)
Adjusted consolidated profit hit a record high and adjusted consolidated ROE reached the 10% target level*
As a result, the stock price rose and the P/B ratio (J-GAAP basis) recovered to above 1x
However, it is crucial to transform the business model in light of changes in the business environment and the recent problems
that occurred in Japan✓For a future of "Health, Wellbeing & Financial Protection″, evolve into a corporate group to continue to deliver services✓

Flexibly incorporate the market size and changes in customers & risks and solve social challenges related to health,nursing care, and retirement finances✓

Aim to “Increase resilience” and “Connect with customers and deliver connected services”✓

Three core businesses are (1) New Sompo Japan, (2) Overseas, and (3) Wellbeing(1) New Sompo Japan: Rebuild earnings structure and business foundation through the “SJ-R” initiatives(2) Overseas:: Maintain double-digit profit growth through disciplined renewal of existing portfolio and contributions
from growth initiatives(3) Wellbeing：Grow by delivering solutions for social challenges related to health, nursing care, and retirement finances✓

As a financial strategy, promote capital circulation and invest aggressively in human capital to continue enhancing
enterprise value✓

Aim to reduce strategic holding stocks at least by ¥200.0 bn. in FY2024 and ¥600.0 bn. during the 3-year period of
the MTMP and accelerate to reduce✓

Shareholder return will comprise of basic return and supplementary return calculated as 50% of gains on sale ofstrategic holding stocks (after tax) and flexible capital adjustment will be considered*Adjusted for an increase in capital due to financial market fluctuations, etc.

3Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Numerical Management Target under the New Mid-Term Management Plan•

Preparing for application of International Financial Reporting Standards (IFRS) from the end of FY2025 to improve comparability with global peers, etc.

•

The adjusted consolidated ROE target for FY2026 (IFRS basis) is 13-15% around the same level as global peers, and the EPS growth target for the 3-year
period is above +12% (CAGR)

Adjusted consolidated ROE (IFRS basis, excluding OCI)*

Adjusted EPS growth (IFRS basis)*13-15%FY2026 target

CAGR12％ +New MTMP period
(¥)

CAGR
12％ +
325

13-15％
227

245

11.8%

11.4%

10.7%

FY2021

FY2022

FY2023

FY2026(Plan)* Figures for the previous mid-term management plan are estimated. Figures for FY2021 and FY2022 are normalized.

FY2021

FY2022

FY2023

FY2026(Plan)

4

Ⅰ．Review ofPrevious Mid-Term
Management Plan

5

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Achievements and Challenges during the Previous Mid-Term Management Plan••

Increased resilience by pursing scale and diversification, and strengthened business foundation in health and nursing care by expanding Insurhealth® andworked toward the future nursing care
Adjusted consolidated profit hit a record high and adjusted consolidated ROE rose to the 10% target level, resulting in higher enterprise value andvaluations
See page 7

FY2023 actual

Adjusted consolidated profit: JPY291.0 billion (record high)
Adjusted consolidated ROE: 10.1%*1 (Reached the target of 10% or higher)

See page 11

See page 9

Largely driven by the growth of the overseas businessGroup top line growth exceeded CAGR 8%*2
Business portfolio became more diversified

By expanding Insurhealth*3 product lineup and sales

Through rate increase, disciplined underwriting, etc.

By leveraging know-how as a nursing care provider

Profitability of fire insurance improved
steadily in Japan

Customer base expanded
Challenges for the future nursing care

Steady DPS growth In line with profit growth

DPS growth*2: CAGR+21%

See page 10

See page 10

See page 8

To strengthen the nursing care businessfoundation

Reduction of interest rate risk andstrategic holding stocks

Acquired ND Software

Exceeded the plan targets

In pursuit of a conglomerate premium

Flexible share buyback

Capital transfer of ¥200.0 billion
to Sompo International

More than ¥180.0 billion in total

Changes in the business environment

See page 15

Recent problems at Sompo Japan*1 Adjusted for an increase in capital due to financial market fluctuations, etc. Adjusted consolidated ROE before adjustment was 9.2%.
*3 InsurhealthⓇ : Unique value that combines traditional insurance and health support functions*2 For FY2021-2023

See page 16

6Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Profit and Capital Efficiency Reached Record Highs•

Adjusted consolidated profit for FY2023, the final year of the previous Mid-Term Management Plan, was JPY291.0 billion, a new record high•

Adjusted consolidated ROE after adjustment for financial market fluctuations, etc. reached 10.1%, and exceeded the capital efficiency target of 10% or
higher under the previous MTMP

Adjusted consolidated profit*1

Adjusted consolidated ROE*1*2(¥ bn.)CAGR+20％
CAGR+13％

202.1

220.0

+8.5pt291.0+2.1pt8.0%

225.0

10.1%*2
9.2%*3

7.9% 8.1%
1.6%

27.6

FY2010FY2012FY2014FY2016FY2018 FY2020 FY2021

FY2022

FY2023*1 Figures for FY2010-2015 are estimates by using the same definition as in FY2016. Figures for FY2021 and FY2022 are normalized.

FY2010FY2012FY2014FY2016FY2018FY2020 FY2021FY2022 FY2023*2 Figure for FY2023 is adjusted for an increase in capital due to financial market fluctuations, etc.
*3 Adjusted consolidated ROE before adjustment

7

Summary

Business Strategy

Previous Mid-Term Management Plan New Mid-Term Management Plan

Shareholder Return by Putting Words into Action and High EPS Growth•

Steadily increased DPS in line with profit growth and flexibly bought back shares based on a highly transparent shareholder return policy•

As a result, EPS growth during the previous Mid-Term Management Plan period was +16% (CAGR) and exceeded the growth of adjusted consolidated profit

Shareholder return

Earnings per share (EPS)*2(¥ bn.)(¥)：Dividends：Share buyback：Agile capital adjustment

CAGR＋22％
CAGR＋16％

DPS growth for the 11th consecutive years*1

CAGR+17％

18.7

175.9

CAGR+20％
150.7

21.0

29.3

22.2

30.4

20.0

91.5

101.1
81.3 81.9

65.8
Total shareholder
return

34.7
10.0
24.7
FY2013

45.6
17.0
28.6

56.1

39.1

33.5

90.0
35.3

112.1 46.6
.58.0 25.0

2.2

40.4

33.5
32.3
FY201535.4

42.2
FY2017

48.4

54.7

60.7

72.7

87.1

98.9

108.0
(Plan)FY2019 FY2020 FY2021 FY2022 FY2023 FY2024(Forecast)*1 Includes FY2024 dividend forecast

FY2010FY2012 FY2014

FY2016 FY2018 FY2020 FY2021 FY2022*2 Figures for FY2010-2015 are estimates by using the same definition as in FY2016.
Figures for FY2021 and FY2022 are normalized

FY20238

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Resilience Increased through Scale and Diversification•

SOMPO’s business size grew faster than planed largely driven by the growth of the overseas insurance business•

SOMPO’s business portfolio became more diversified and balanced between domestic and overseas businesses, which has
strengthened our resilience(¥ tn.)

22%

3%

CAGR+8％

4.1

3.2
37%
Composition ofadjusted
45%
consolidated profit

Composition ofadjusted
consolidated profit

FY2020

FY2023(FY2016-2020)

19%(Average for theprevious MTMP period)

56%
Domestic P&C*2

CAGR＋1.4％(Plan : +1.5％)
Domestic P&C

Overseas

Domestic Life

Nursing care, etc.

Domestic Life*4

CAGR＋8.6％(Plan : ＋19%)

Overseas*3

CAGR＋15％

4%

13%(Plan : +9％)
Nursing care
& Seniors*5¥ 175.8 bn.

(Plan : ¥162.0 bn.)

Domestic P&C

Overseas

Domestic Life

Nursing care, etc.

*1 Net written premiums, etc. of the overseas insurance and domestic P&C insurance businesses, life insurance premiums of the domestic life insurance business、and operation revenue of the nursing care and seniors business*2 Net written premiums *3 Gross written premiums *4 Annualized premiums from new business (performance evaluation basis) *5 FY2023 operating revenue

9Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Progress in Risk Reduction, Capital Allocation to Growth Areas, and Pursuit of a Conglomerate Premium•

Risks in low capital efficiency areas, such as strategic holding stocks and interest rate risks, were reduced faster than planned•

Capital generated from risk reduction was allocated to organic growth in pursuit of a conglomerate premium and M&A to support
higher growth
Capital policy under the previous
Mid-Term Management Plan(¥ bn.)

Reduction of strategic holding stocks
exceeded the initial plan target(¥ bn.)＜Reduction of strategic holding stocks fromFY2021 through FY2023＞

150.0

195.6

Initial plan

Reduction ofInterest rate risk

124.0

＜JPY interest rate risk amount＞

Capitalallocation
to organic
growth,growthinvestment,
etc.

406.0

ActualReduction of interest rate risk
exceeded the plan target(¥ bn.)

Reduction ofStrategic
holding stocks
110.0

Adjusted
consolidated
profit

704.6

525.2

Shareholder
return

438.9

161.9
End of Mar. 2021

End of Mar. 2024

* Excl. the impact of financial market fluctuations, etc.

Increase incapital*Overseas
Capital transfer of ¥200.0 bn. to
Sompo International
Profit contribution of more than ¥15.0 bn.
through a conglomerate premium

Nursing Care

DigitalAcquisition of ND
SoftwareExecution of
investment indigital companies

Use ofcapital10Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Steady Progress in Building a Business Foundation for the SOMPO’s Mid- to Long-Term Growth•

The domestic life insurance business grew steadily by expanding Insurhealth® product lineup and customer base as a health support
company•

In the nursing care business, stepped up the initiatives toward the future nursing care by utilizing data and digital technologies

Growth of customer base with Insurhealth products (Himawari Life)【Ratio of Insurhealth products to sales】(No. of new business)

FY2020

FY202374%

92%

Initiatives toward the future nursing care in the nursing care business

Improve quality andproductivity by utilizing data
and digital technologies
Initiative to lead industry reform【No. of policies in force】

CAGR+5％4.93 million

4.26 million

FY2020

FY2023

Profit contribution (FY2023)
Operating revenue¥20.3 bn.

Operating income¥2.5 bn.

Improved market access

11

Summary

Business Strategy

Previous Mid-Term Management Plan New Mid-Term Management Plan

Stock Price Rose Sharply and Valuations Improved Substantially••

Initiatives under the previous Mid-Term Management Plan produced results in addition to steady profit growth, capital efficiency improvement and increasein shareholder return
The stock price rose sharply and the P/B ratio (J-GAAP basis) recovered to above 1x. The adjusted P/B ratio is expected to recover to above 1x through theinitiatives under the new Mid-Term Management Plan

Total shareholder return*1 (from the end of FY2019 to the end of FY2023)

P/B ratio*1 and adjusted consolidated ROE*2(Indexed with end of Mar. 2020 as 1)
SOMPO

Adjusted consolidated ROE
TOPIX

Peer average

P/B ratio (J-GAAP)

Adjusted P/B ratio

P/B ratio(J-GAAP)

＋238%

1.2x

＋21pt

＋217%
P/B ratio = 1x
Adjusted
P/B ratio

0.8x

Adjusted
Consolidated
ROE

＋111%
10.1%
9.1%
8.0%

7.6%
6.4%

10.1%
(FY2023)

8.1%

6.4%
4.5%

End ofMar. 2020

End ofMar. 2021

End ofMar. 2022

End ofMar. 2023*1 Calculated by Sompo Holdings by using data from Bloomberg, etc.

End ofMar. 2024

End ofMar.
2016

End ofMar.
2017

End ofMar.
2018

End ofMar.
2019

End ofMar.
2020

End of
Mar.
2021

End of
Mar.
2022

End of
Mar.
2023

End ofMar.
2024*2 Figures for FY2021 and FY2022 are normalized. Figures for FY2023 are adjusted for an increasein capital due to financial market fluctuations, etc.

12

Ⅱ．New Mid-Term
Management Plan

13

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Management Targets and Main KPIs••

Aim to increase ROE to 13-15% in FY2026 and achieve EPS growth of above +12% (CAGR) during the new MidTerm Management Plan period
Achieve management targets through organic growth, and seek disciplined M&A to enhance achievability

Numerical
management target*1
Adjusted consolidated ROE(FY2026 target)

13-15%

Adjusted EPS growth(New MTMP period)(FY2023 : 11.8%)

CAGR12％ +KPIs
Domestic P&C (FY2026 estimate）
ROE*1

E/I loss ratio
Expense ratio

8% +(FY2023 : 4.5%)

62.0%

Overseas (FY2026 estimate)
ROE*1(FY2023 : 65.4%)

Gross written
premium

33.0%

E/I loss ratio(FY2023 : 33.8%)

E/I combined ratio

Below 95.0%

Amount of reductionof strategic holding stocks(New MTMP period)(Prepare for investment opportunities
by further accelerating reduction)(FY2023 : 99.3%)
At least by ¥600.0 bn.

Expense ratio
E/I combined
ratio*2

13% +(FY2023 : 13.1%)

Strategic initiatives

Wellbeing (FY2026 estimate)Life insurance
ROE*1

12% +
(FY2023 : 9.2%)¥93.0 bn.

New business
CSM*2(FY2023 : ¥68.1 bn.)

(FY2023 : 63.8%)

Nursing care
ROE*1*3(FY2023 : 11.7%)

29.0%

Occupancy rate

95.5％

$1.0 bn. +64.8%(FY2023 : 28.5%)

12% +(FY2023 : 92.9%)

93.8%(FY2023 : 92.3%)*1 IFRS basis, adjusted consolidated ROE excludes OCI, estimate for FY2023. ROE of Domestic P&C is based on current definition and KPI on IFRS basis will be set at the time of application of IFRS.
Aim to improve in risk diversification ratio of Group against FY2023. *2 Metric based on IFRS 17 as with new business value (before tax) , estimate for FY2023. The same shall apply hereafter.
*3 Care operator business

14

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Challenges under the New Mid-Term Management Plan (1) Changes in the Business Environment•

The P&C insurance market in Japan will hit the ceiling due to population decline, and consumer behavior will change due to technological advances, sharing, etc.

•

While the aging society may create new social needs, it may be impossible to address deepening social challenges only with insurance and nursing care alone

Opportunity

Global: Population growth
Japan: Greater demand
for life protection

Insurance market
expansion
Growth of investment
income due to higher
interest

Greater demand for
insurance
Changes in insurance
needs and types
New business modelutilized data and AI

ThreatDisasterprevention andmitigation

Greater demand for
insurance,
productivity
improvement

Greater demandfor insurance

Technologicaladvances

Geopolitical risk,
supply chain

Changes in
consumer
behavior

Business
structure change

Business structurechange,higher volatility

Change in the current
business model

Demographic
changeInflation

ClimatechangeGlobal: Growth slowdown
Japan: Population decline

Higher costs,
larger market risk

Increasing severity
and frequency ofnatural disasters

15

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Challenges under the New Mid-Term Management Plan (2) Occurrence of the Recent Problems•

The root causes of the recent problems lie in short-termism and inability to break away from the old business model and industry practices despite thedeteriorating earnings environment•

There is a pressing need to drastically transform the business model in addition to fully implementing recurrence prevention measures in the meantime(2) Challenging environment in earnings(1) Old business model and industry practices⚫ Failure to change mindset from the era of the
convoy system⚫ Commercial transactions competing on noninsurance proposition⚫ Large influence of large agencies

Root
cause

⚫ Market contraction in Japan (population, auto,
home, etc.)⚫ Increasing frequency and severity of natural
disasters due to climate change⚫ Increase in large losses due to aging, including
infrastructure(3) Corporate culture⚫ Give high priority to sales performance andprofit⚫ Top-down corporate culture of notchallenging the boss’s decision⚫ Low risk awarenessInability to suspend the old business model and industry practices despite the deteriorating
earnings environment as well as short-termism in organizational management and the resultant wrong values

Price-fixing issue

Drastically transform the business model, not limited
to full implementation of recurrence prevention
measures

Bigmotor issue

SJ-R
Restart Revolution Reborn
Revitalize as “New Sompo Japan” by rebuilding the business foundation and profit base16

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

SOMPO Group Vision and Role of the New Mid-Term Management Plan•

For a future of "Health, Wellbeing & Financial Protection″, the Group is developing into a corporate group that continues to deliver services•

Achieve the vision as soon as possible by “Increasing resilience” and “Connecting with customers and delivering connected services” under the new MidTerm Management Plan, while addressing the latest challenges

SOMPO’s Purpose
For a future of"Health, Wellbeing & Financial Protection″

Previous Mid-Term Management Plan

New Mid-term Management Plan

Conglomeratepremium

Develop into a corporate group thatsurvives and thrives in a changing
business environment

VisionSOMPO P&C
Flexibly scale business depending on the market
size and changes in customers and risks
Commercial services

Expertise

Consumer services

Efficiency

SOMPO Wellbeing

Latest challenges
Regain trust
Drastically transform

Deliver various solutions for social challenges
related to health, nursing care, and retirement finances

Healthcare

Nursing
care

ROE & P/E ratio
improvement

P/E ratio
improvement

Retirement
finances

SOMPO’s strengths
Customer base in thedomestic P&C
insurance business

Strong expertise ininternationalcommercial insurance

Unique health support
function by InsurhealthBusiness foundation,
expertise and real data
in nursing care17

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Overview of the New Mid-Term Management Plan•

Aim to “increase resilience” and “Connect with customers and deliver connected services” under the new Mid-Term Management Planby focusing on the three business segments•

Aim to improve the ROE as well as grow profits by making efficient use of group capital with strengthening governanceThree business segments
See page 20-21

New Sompo Japan
Regain trust and increase resilience

See page 27

Finance strategy

See page 24-26

See page 22-23

Overseas

Wellbeing

Group scale and growth

Driver of mid- to long-term growth

See page 32

See page 31

HR strategy

Data & digital strategy
See page34-35

Strengthen governance* IFRS basis (excluding OCI）

18

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Overview of SOMPO P&C•

Increase resilience of the domestic P&C business through “SJ-R” and overseas P&C insurance and reinsurance business through geographic business expansion and otherinitiatives•

Strengthen coordination between the domestic P&C insurance business and overseas insurance and reinsurance business to establish the Group’s P&C underwriting andinvestment organization at the highest global level

Domestic P&C InsuranceCenter of
Excellence
Overseas Insurance
and Reinsurance

Disciplined
underwriting

Globalgeographic
expansion

Underwriting
expertise

Risk selection

Adapting to changes
in the businessenvironment

Investment
for Group Best

Increase resilience ofthe group’s P&C
insurance business

19

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

New Sompo Japan (1) Overview of “SJ-R”•

Transform the business model and break way from old industry practices by implementing the “SJ-R”, while steadily executing the business improvement
plan and regaining trust•

Reform operations and earnings structure under the new Mid-Term Management Plan to become a “highly unique and resilient P&C insurance company”

Further reforms

Reforms under the “SJ-R”
Portfolio & Sales reform

Claims service reform

E/I combined ratio -4pt
Strengthen detection of falsified
claims through division of duties

Large reduction in the number ofoffices
253

Financialmanagement
by segment

Profitfocused sales

Four priorities
Customersatisfaction

Payment
adequacy

Efficiency

Employeesatisfaction

Improve productivity bycentralization

209

169

Promoting location-independent work styles

FY2024High profitability, stability, andflexibility

No. of offices

229

FY2025Comprehensive cost review✓ Reorganization of related
businesses✓ Third-party alliance in noncompetitive area

-84

No. of offices
vs. FY2023(99%⇒95%)
Low profitability, stability, andflexibility

Cost control through new work styleSpecialization andstandardization strategy✓ Commercial: Improve expertiseand risk solution service✓ Retail: Improve standardizationand productivity

FY2026 FY2027

Drastic system cost savings

Culture change, governance, quality improvement, talent development,
data-driven organization

Become a highly
unique and resilient
P&C insurancecompany
20

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

New Sompo Japan (2) KPI•

Improve stability and flexibility as well as profitability under the SJ-R, and transform into a resilience business structure•

Implement the initiatives in each area to achieve the following quantitative targets by the end of FY2026

Increase of stability

Improvement of profitability
Profit recovery through SJ-R
KPI
(ROE*1)(¥ bn.)

Reducing the risk amount (allocated capital)
through reduction of strategic holding stocks

8% +

KPI

(FY2026)(Combined ratio*2)

Below 95.0%

Japan typhoonrisk

Adjusted profit

ROE

At least by ¥600.0 bn.
Strategic(Prepare for investment opportunities
holding stocks by further accelerating reduction)

100.6%

Level of profit required
to achieve the 8% ROE target

99.3％

8％ +

Inrease of flexibility

CAGR 10% +Reduction in the risk amount(allocated capital) throughreduction of strategic holding stocks

72.3

Below 95％

4.5%
Long-term
contractswith fixed rates

1.5%
15.0
FY2023

FY2024

Plan to maintainor reduce

FY2025

FY2026(forecast) (estimate) (estimate)*1 Current definition basis*2 E/I basis

・・・

FY2023

FY2024FY2025

FY2026(forecast) (estimate) (estimate)・・・

Rapid change of
earnings
environment

Major
business risk

Reduce the ratio of long-term contracts＋
Implement further drastic measures21

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Overseas Growth Strategy (1) Overview•

Continue to annually grow adjusted profits over the mid-term plan with gross premiums written growth supported by disciplined renewal of existing
portfolio and contributions from growth initiatives•

Increase in net investment income through higher book yields and greater underwriting cashflows, while evaluating of potential M&A opportunities

Strategic Objectives FY2024 through FY2026

Top-line growth supported
by strategic initiatives

Rate increases
approximate loss cost trends

Disciplined
underwriting

Increase in net
investment income

Continual evaluationof potential M&A
opportunities

Maintain stable
underwriting margins

Greater underwriting
cashflows

Disciplined M&A
based on valuation

Premiums retained based on
profitability and risk appetite

Higher book yields

Global geographic
expansion

22Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Overseas Growth Strategy (2) KPI•

Adjusted profit is expected to grow supported by expanding underwriting income and higher net investment income•

Strategic initiatives started in 2023 and continuing through the mid-term plan will generate top line growth and support profitable
growthAdjusted profit

Gross premiums written (Strategic Initiatives)

CAGR ＋10%

KPI($ mn.)($ mn.)CAGR+10%

CAGR +58%$1.0 bn. +

KPI
Asia

CanadaEurope1,500 +ROE
KPI

(FY2026)

US$1.0 bn. +Geographic
expansion

1,150

290

13% +

13.1%

216
3.8%

FY2020

FY2021

FY2022

FY2023

FY2026(Estimate)

FY2023

FY2024FY2025

FY2026(Estimate)(Estimate)(Estimate)

FY2020 FY2021 FY2022 FY2023

FY202623

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

SOMPO Wellbeing (1) Overview•

Combine the customer base, strengths, and know-how of businesses of SOMPO Group, and connect products and services beyond business boundaries•

Build the wellbeing business foundation under the new Mid-Term Management Plan to address social challenges and for SOMPO Group to grow sustainable

Domestic Life Insurance
Grow the customer baseby combining insurance
and health support

PromoteBehavior change
for healthNursing Care
Businessfoundation

Behavior change

Real data

Expertise

Data analytics✓

Corporate wellness
Promoting healthy behavior
among employeesof business partnersなど

Nursing carebusiness foundation

Connect customers
and services
for unique andsustainable growth

Domestic
customer baseSupporting healthmanagement
for corporate HR24

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

SOMPO Wellbeing (2) Addressing Social Challenges and Sustainable Growth•

Deliver solutions for extending healthy life expectancy by focusing on the group’s health support service and top-level nursing care quality, brand, and customer base in
Japan

•

Deliver solutions to meet customer needs in depth and length to continue increasing LTV of each customer and for SOMPO to grow sustainably in the mid to long term

Deliver solutions throughout life
(Continuous growth of life time value (LTV) and profit)-At your side at all timesExtension of healthy life expectancy and provision of emergency support by Insurhealth productSpecific health guidance,
medical checkup service, etc.

Wellbeing

Nursing care service (at facility, at-home)

New products and services to meet the diverse needs

Three concerns (Social challenges)
Health concern
Gap between average life
expectancy and healthy
life expectancy :About 10 years

Nursing care concern

Financial concern after retirement

People who can prepare
for retirement on their own:

10%

Family carers are likely to decrease(Widening labor supply-demand gap in nursing care)25

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

SOMPO Wellbeing (3) Domestic Life Insurance and Nursing Care Businesses•

The domestic life insurance business is expected to generate stable profits by focusing on insurance and service, increasing the number of customers, and strengthening
health support.

•

SOMPO will lead efforts to reform the nursing care industry, such as by improving quality and efficiency of operations by utilizing data and digital technologies, etc.

Domestic life insurance businessNursing care business

Increase “Himawari clients/users*1” and strengthen health support

Establish package
proposals of insurance
and health support

12％ +

KPI
(ROE*2)

Contain operating
expenses
Selection & concentration
in investment

Operations to build ahealth support
framework(FY2026)

12% +デジタル・データ
デジタル・データ

KPI¥93.0 bn.

(New business
CSM*3)(FY2026)(¥ bn.)

Strengthen care
operator business

12％ +

KPI
(ROE*2*4)(FY2026)

93.0
68.1

9.2%

Utilize data anddigital technologies

Strengthenwell aging business

KPI(Occupancy rate)

95.5%(end of FY2026)
95.5%

12% +
11.7%

92.9％

CAGR+9%38.2

FY2020 FY2021 FY2022 FY2023

FY2026(Estimate)

FY2020 FY2021 FY2022 FY2023

FY2026(Estimate)*1 No. of policies in force + health-related service users. The same shall apply hereafter. *2 IFRS basis, figures before FY2023 are estimates*3 Annualized premiums from new business (performance evaluation basis) *4 Care provider business

FY2021 FY2022 FY2023

FY2026(Estimate)

FY2021 FY2022 FY2023

FY2026(Estimate)26

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Finance Strategy (Promote Capital Circulation)•

Promote capital circulation further to increase resilience, build a connected society, and achieve management targets•

The upper limit of the ESR target range was lowered to 250% based on the increase in the ROE target

Capital aggregation and managementby holdings✓✓

Lower the upper limit of the ESR
target range
Attractive shareholder return

Capital allocation by holdings✓✓

See page 33

Allocate capital highly capitalefficient areas
Reduce risk in low capitalSee page 28
efficiency areas

Remittance ratio
100% in principle

Profit generation

Risk-taking✓✓✓* IFRS basis (excluding OCI）

See page 29-31

Increase underwriting risk, reducerisk in low profitability areas
Increase credit risk in investment
Increase growth investment andhuman capital investment

27

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Risk Reduction: Accelerating the Pace of Reducing Strategic Holding Stocks•

Aim to reduce the balance of strategic holding stocks, a possible impediment to fair competition, to zero by FY2030 by focusing on listed stocks•

Reduce strategic holding stocks by ¥200.0 billion or more in FY2024, by ¥600.0 billion or more during the 3-year period of the new Mid-Term Management
Plan, and aim to prepare for investment opportunities by further accelerating reduction and reduce the cost of capital (around 7%)

Balance and reduction of strategic holding stocks*

Reduction¥542.7 bn.

¥195.6 bn.

(FY2016-2020)(FY2021-2023)

1,805.7(¥ bn.)

Market value*Book value¥200.0 bn. +in FY2024
Minimum target¥600.0 bn.

1,163.0(3-year period of
the new Mid-Term
Management Plan)

Prepare for investment opportunities
by further accelerating reduction

846.0

337.5

Zero
balance
FY2010FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023* Includes retirement benefit trust

FY2026

FY203028

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Approach to Risk-Taking (Organic Growth and Growth Investment)•

Allocate cash and capital generated from risk reduction and profit growth to organic growth, M&A, and shareholder return in a well-balanced manner•

Use group capital to increase underwriting risk in highly profitable LOB, risk-taking in investment by increasing credit risk, M&A, and strengthen businessfoundation

Overseas M&A

Risk-taking for organic growth

Carefully execute depending on valuations

Highly probable profit growth
Domestic P&C underwriting(highly profitable segment)

Overseas
underwriting

Domestic life underwriting

Investment
Credit risk

（Insurhealth）

Increase profits
Improve the ROE

Geographic andrisk diversification

Group
capitalWellbeing M&A

Strengthen business foundation

Sustainable growth
Strengthen product andservice infrastructure

Risk reduction

Human capital
investment
Data & digital investment

Strategic
shareholding29Summary

Business Strategy

Previous Mid-Term Management Plan New Mid-Term Management Plan

Investment Strategy•

The Group investments contribute to increasing capital efficiency and resilience by further coordinating of operations across the Groupand diversifying the portfolio by promoting the use of investment IT infrastructure•

Aim to steadily grow investment income through appropriate risk-taking by taking into account liability characteristics and liquidity

Previous
MTMP
✓
✓
✓

New MTMP

Reduce risks (strategic holding stocks, interest rate risk)See page 10
Create a conglomerate premium (credit investment)
Establish Group investment infrastructure✓✓✓Group investment income*(¥ bn.)

Accelerate the pace of reduction of strategic holding stocks,
See page 28
and reduce the balance to zero in FY2030
Improve risk-return profile by increasing international credit
investment
Improve Group investment governance and risk management

Composition of group investment assets *Inner circle: FY2023 end, Outer circle: FY2026 end plan
The arrows show the directionof allocation (illustration)

CAGR 10％ +
282.8

37%

168.4

13%

Group
10%
investment
assetsForeign equity(end of FY2023)

Japan equity¥13.1 tn.

FY2020

FY2023

FY2026(Estimate)* Before tax, adjusted profit basis

5%

35%

Deposits, etc.
Japan bond (including loans)
Other (land, building, etc.)30

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Human Capital Investment•

Increase human capital investment to develop expertise of employees•

Continue delivering value as professionals to continue enhancing the Group’s enterprise value

Increase human capital investment (about ¥30.0 billion)

Improve underwriting skills

Develop healthand healthcare expertise

Develop digital and IT expertise

Increase practicaltraining in nursing care

Pursue DEI

Deliver value as professionals

31Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Data & Digital Strategy•

Improve quality and productivity of each business and create more business opportunities by utilizing SOMPO’s business foundation

Past initiatives

Contribution
to eachbusinesses

Uniquebusinessarea

Initiatives under the new MTMP and beyond
Review insurance underwriting and claims payment
from the customer’s perspective

Streamlining✓

Improve insurance underwriting result
Utilize data for wide area disastermanagement
Streamline operations by using AI(loss estimate, etc.)

Data-driven✓ Data-driven portfolio reform

IT/digital
integration✓ Minimize manual operations✓✓

Set up a JV, use at SOMPO
Increase client companies(FY2023: +50%)

Palantir
Technologies
Japan✓ Expand sales channels✓

Grow into the largest car auction
company in Japan that buys and sells
total loss vehicles

SOMPO AUX

✓ Strengthen and enlarge the business foundation✓✓✓

Group business foundation
Strategic alliance＋

Specialists
32Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Shareholder Return Policy•

Increase shareholder return and improve predictability by delivering 50% of gains on sale of strategic holding stocks as supplementary return in addition tobasic return•

Lowered the upper limit of the ESR target range to 250%, and steadily implement additional risk-taking and capital adjustment to improve capital efficiency

ESR target range

Shareholder return policy

Shareholder
returnDividends
DPS growth in line with profit growthUpper limit of
the target range

Sharebuyback

Lowered to 250%
(Before: 270%)

270%
Basic
return50% of adjusted consolidated profit*

250%

Increase due to profit growth

200%
New
50% of gains on sale of strategic
holding stocks (after tax) in principle
Additional
return• Consider additional risk-taking• Consider capital adjustment• Continue efforts to improve capital efficiency• Return capital in line with the shareholder
return policy

Targetrange• Consider various risk reduction measures• Increase retained earnings, etc.

Decided based on risk and capital situation,
financial performance, market environment, etc.
The ESR constantly exceeds the upper limit of the target range
Other cases in which enhancement of capital efficiency, etc. is needed* 50% of adjusted consolidated profit (IFRS basis, average of latest 3 years) after adopting IFRS

33

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Governance Structure•••

Sompo Holdings and Sompo Japan will visualize the process of initiatives and the Board of Directors of both companies will continuously monitor to make steady progress in thebusiness improvement plans
Sompo Holdings will increase the number of executives who also serve as Directors of business companies, operate the Headquarters as one with Sompo Japan, and strengthen
the subsidiary management framework by the holding company
The business companies will increase effectiveness of the Board of Directors by appointing non-executive Directors and reviewing operating procedures, and reinforce theautonomous PDCA cycle by focusing on the three lines of defense

Increasing the quality and effectiveness of Group governanceManagement

Board of Directors
Company with Nomination Committee, etc.

Sompo Holdings(From 2019)• Transition to a company with
Nomination Committee, etc.
• The Board is composed mainly of
non-executive Directors• The Nomination, Audit, andCompensation Committees oversee
management from the external
perspective (all chaired by nonexecutive Directors)(From 2024)• The Board is chaired by a nonexecutive Director• Step up efforts to increase
effectiveness of Board oversight－Strengthen coordination between
the Audit Committee and Audit &Supervisory Committee/Board ofbusiness companies－Improve the quality and increase
the frequency of management
information sharing

•
•

•

•
•
•

Company with Audit &Supervisory Committee, etc.

Sompo JapanSee page 35•

The holding company supports the business companies in reinforcing
the PDCA cycle from a groupwide perspective

Separate business execution and management
oversight, strengthen Board oversight－Transition to a company with Audit &Supervisory Committee, etc.
－Appointed non-executive Directors (4 people)－The holding company executives also serve as
Directors－Chaired by members other than the President
and CEO－Revised the agenda and Board meeting
frequency

•

•
•
•

Increased executives in charge ofinternal control and established a
new unit
The Group CRO reports the
progress in the business
improvement plan, etc. to the Audit
Committee on a quarterly basis
The Group CxOs and business CxOs
communicate frequently to share
understanding (double hatting ofsome by the holding company
executives)
Increase specialization of the 2nd
and 3rd lines of defense (talentacquisition & development, etc.)
Strengthen oversight by sending in
the Directors of business companies
Strengthen financial planning &analysis

Ensure transparency in the decisionmaking process (established a Committee,
developed internal rules)
Clarify the responsibilities and authorityof the CxOs
Operate as one with the holding
company (some functions)
Step up efforts to create an open culture
to use the voice of employees in businessexecution

Action＜Effective measures to increase
the quality of management＞• Improve the quality from thecustomer’s perspective based onbest practices of the Group＜Effective oversight andmonitoring＞• Strengthen the three lines ofdefense• Appropriate oversight by the Boardof Directors and Committees

Check

Plan
＜Develop achievable growth plans＞• Understanding of businessenvironment and strategy forrealizing the Purpose• Appropriate headcount allocation toaccomplish the plan
• Risk assessment for key measures＜Produce results by doing
the right thing＞• Strengthen the complianceframework• Put values into action basedon the guiding principles

Do34

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Recurrence Prevention Measures (Main Progress)•

Sompo Japan is implementing effective recurrence prevention measures under the governance framework which was strengthened following Board approval•

The expert panel of the Financial Services Agency is discussing revision of industry rules and practices in response to the BM and price-fixing problems

Key points in strengthening the governance framework of Sompo Japan
Bring in external perspectives, improve the framework to strengthen
Board oversight

Clarify the mission (expected roles), responsibilities, and authority of
executives••

SJ became a company with Audit & Supervisory Committee, etc., appointed nonexecutive Directors, and revised Board composition

Clarify the proposal guidelines to the Board, etc. and establish Committees•

A mechanism that enables relevant members to have necessary discussions without
holding back negative information

Recurrence prevention measure in response to the BigMotor issue (example)

Change the management mindset and develop talent to get a better
customer’s perspective•

Appointed the Chief Culture Officer (CCuO) and established the Culture
Transformation Department

Appointed the Chief Quality Officer (CQO), etc. and put responsibilities and authority
into internal rules

Double hatting by the holding company executives in key areas• 6 Directors (3 Directors including the Chair are non-executive Directors),
4 CxOs/Executive Officers
Recurrence prevention measure in response to the price-fixing issue (example)

Improve the environment for fair competition incommercial insurance• Decided to reduce the balance of strategic holding stocks to zero
• Progress made in discussions to abolish client business support

Reorganize the structure by focusing on operational quality andcomprehensively review and improve the evaluation system• Established the Quality Management Department• Made the agency commission system more quality-focused

Establish a proper sales structure and underwriting
management framework

Comprehensively review and reorganize the claims service
departments• Develop a draft process that ensures customer satisfaction, payment
adequacy, efficiency, and employee satisfaction

Establish a compliance framework, including the Antimonopoly Act• Separate the Compliance Department from the Corporate Legal &Compliance Department and strengthen the functions

The Business Improvement Plan Committee
checks the progress on a monthly basis• Change to a sales evaluation system focused on profitability and quality

Fixed point observation of employees’
values and behavior change

Monitoring by a third party (TBD)
35

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

ESG (Sustainability : Climate Action)•

SOMPO Group will continue to proactively work as one to contribute to addressing social challenges through businessand on priority areas, including climate change, to realize a sustainable society

SOMPO Climate Action and roadmap

SOMPO
Climate Action(Scope 1, 2, and 3)

Increase adoptionof renewable energy

FY2030 60% reduction*1
FY2050 Net zero

FY2030 70% adoption
FY2050 100% adoption

Reduce GHG emissions(from 2021)

Adapt to climate change

Investment & Loans
Mitigate climate change

Reduce GHG emissions(Scope 3, investment &lending)

Contribute tosocial transformation*1 Compared with 2017

FY2025 25% reduction*2
FY2050 Net zero

ESG survey

Insurance underwriting
Transition products(insurance products conducive to net-zero transition)

FY2026 ¥25.0 billion(Sompo Japan)*2 Compared with 201936

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Enhance Enterprise Value and Valuations while Growing Sustainably•

Grow sustainably by achieving “increase resilience” and “connect with customers and deliver connected services” and promoting
circulation of capital with reduction of the cost of capital•

Push up enterprise value (market cap) to around ¥6.0 tn. in the mid to long termMarket cap of Sompo Holdings

Founding of Sompo Holdings
Merged two Japanese P&C insurers
Entered the nursing care business2010* Source: Bloomberg

2012

2014

Full operation of theoverseas insurance
business
Launched Insurhealth

2016

2018

Scale and diversification

Increase resilience

Built the businessfoundation in healthAnd nursing careConnect with customers
and deliver connected
services

2020

2024

2022

¥6.0 tn.
in the medium
term

37

Ⅲ．Business Strategy

38

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

New Sompo Japan (1) Review of the Previous Mid-Term Management Plan•

Adjusted profit was less than planned mainly due to an increase in Nat Cat losses and higher cost of repair in auto insurance, while the reduction of strategic holding
stocks exceeded the initial plan target.

•

While a decline in large losses provided a temporary tailwind, underwriting income in fire insurance turned positive owing to efforts so far to improve profitability.

Adjusted profit
Previous
MTMP KPI

Reduction of strategic holding stocks¥150.0 billion or more

(FY2023 plan)Previous
MTMP KPI(Cum. total)(¥ bn.)

Underwriting result in fire insurance improved

Achieved¥150.0 billion

Underwriting income
in fire insurance*2(¥ bn.)FY2023(¥ bn.)

Turnedpositive

Cumulative totalof ¥195.6 billion*1

157.4

4.1

130.1
75.1
70.3

72.3
50.1
32.0

-120.6FY2018FY2020

FY2021

FY2022*1 Includes sale by the Board Benefit TrustFY2023

FY2021

FY2022*2 Excludes net provision for catastrophic loss reserves

FY2019FY2020

FY2021

FY2022

FY2023

FY202339

Summary

Business Strategy

Previous Mid-Term Management Plan New Mid-Term Management Plan

New Sompo Japan (2) Main KPIs of the New Mid-Term Management PlanIn FY2026, the ROE of the domestic P&C insurance business is expected to return to 8% or higher due to the SJ-R effect, reduction ofstrategic holding stocks risk, etc.
• In FY2026, the E/I combined ratio is also likely to improve to below 95% (-4pt vs. FY2023 actual) since various initiatives, including
portfolio reform, would take effectROE
E/I combined ratio
Reduction of strategic holding stocks•

KPI(FY2026 forecast)

8% or higher

KPI(FY2026 forecast)

Below 95%

At least by ¥600.0 bn.

KPI(Prepare for investment opportunities
by further accelerating reduction)(Cum. total)(¥ bn.)

8% orhigher99.3%

100.6%

33.8%

34.8%

Below
95%

At least by ¥600.0 bn.
(Prepare for investment opportunities
by further accelerating reduction)

2.7x or more

33%

4.5％
200.0 or
more
65.4%

65.8%

62%
75.1

1.5%
FY2023

FY2024FY2026(forecast)(estimate)

FY2023

FY2024FY2026(forecast)(estimate)

FY2023

FY2024FY2026(Plan)(Forecast)40

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

New Sompo Japan (3) Overview of SJ-R•

The goals of SJ-R is to realized sustainable growth by reforming the earnings structure to increase profitability and resilience as well
as operating foundation

Portfolio reform

Financial

Increasecompetitiveness throughoperational reform

NonFinancial(Earnings
structure)(Operating
foundation)

ROE

E/I combined ratio

Engagement

Ratio of long-term contracts

No. of specialists

Risk amountSales
reformStrengthen quality
management andgovernance

CulturechangeReinvest profits
generated from earnings
structure reform

Claims service
reformCustomer evaluation

Data-driven operations, IT reform,
HR development, HR system

41

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

New Sompo Japan (4) Portfolio Reform•

Aim to improve the portfolio in terms of profitability, flexibility, and stability•

Control the portfolio through pricing, underwriting, resource allocation, sales evaluation, etc. based on financial management bysegment

Profitability (Combined ratio)

Flexibility (LT contract ratio)

Stability (Risk amount, etc.)

Portfolio reformEnd of
FY2023End of
FY2026

Improve or
reduceIncrease

High quality segment*

Neutral segment

Low quality segment

Action plan by segment
High quality segment

Neutral segment

Low quality segment

Below the target combined ratio

Around the target combined ratio

Above the target combined ratio

Maintain or reduce rates

Increase sales
Focused investment

Maintain or increase rates

Disciplined underwriting

Add-on adjustment in sales evaluation* The above segments differ from LOB segmentation. Classified based on risk amount, long-term contract ratio, etc. not just profitability.

Increase rates

Revise underwriting T&C
Reduced investment
Deduction adjustment in sales
evaluation

42

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

New Sompo Japan (5) Claims Service Reform•

Four priorities in claims service are “customer satisfaction”, “payment adequacy”, “efficiency”, and “employee satisfaction”•

Improve payment adequacy through CFR as well as reform claims service through standardization, concentration, division of duties,
specialization, and visualization

Priorities in claims service

Main reform initiatives
Establish a PDCA cycle of monitoring andimproving payment adequacy byincorporating closed file review (CFR) in theoperational process

Customersatisfaction

Payment
adequacy

Priorities
Operational
efficiency

Employeesatisfaction

FY2024FY2025

Design post-reform process
Start pilot at model offices

Roll out the new operational
process across the country

Standardization

Centralized control by the Headquarters
Standardize operations across the country

Concentration

Concentrate claims service across the country
into regional unit
Flexible allocation of resources depending onchanges in demand

Division of duties,
specialization

Division of duties by claim typeService by the specialist in respective area

Visualization

Build a mechanism for data gathering
Enable real-time evaluation and examination of
initiative outcome

43Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

New Sompo Japan (6) Sales Reform•

The sales departments will contribute to portfolio reform through insurance sales activities•

Aim to increase value added by focusing on high-level standardization and productivity improvement in retail sales, and increasing
specialization in commercial sales

Contribute to portfolio reform through sales

Retail sales

Commercial sales

The domestic market is likely to shrink due to population decline.
Adapt to changes in the business environment through high-levelstandardization and productivity improvement

High-levelstandardization

The market continues to expand driven by the growth of
specialty insurance, etc.

Aim to increase profit, primarily by increasing specialization

Increase
specialization•

Strengthen knowledge management

Account Manager•

Introduce action proposal tools

First point of contact for client companies

Productivity
improvement•

Integration of units and offices•

Consolidation of sales operation•

Concentration of agency support

Field Underwriter
Member of the product/UW department and directly
negotiates with client companies, brokers, etc.

Risk Solution Supporter
Specialist in surveys and various risk
management services

Consider further measures to increase value added, including third-party alliance and M&A
Change to a sales evaluation system focusedon profitability and quality

Reduce strategic holding stocks
to zero in FY2030

Abolish excessive client business support

44

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

New Sompo Japan (7) Operational Reform (Culture Change, Strengthening Quality Management)•

Reform operating foundation through culture change, strengthening quality management, etc. to regain trust and for sustainable
operations•

Establish a framework for quantitatively monitoring improvement and change by clarifying the definition and setting KPIs

Culture change

Strengthening quality control

Dedicated to the customers and society

Define minimum quality standards to be maintained
and monitored by a specialized department[SJ-R Value]

Our five commitments(1) Act fairly and impartially by giving first priority to trust of customers andsociety(2) Stand by customers together with the agencies to assist in lives and society(3) Focus on quality and work to improve “speed” and “ease of understanding”(4) Proactively learn and improve expertise to pursue the fundamental value of
insurance(5) Build the future of insurance by leveraging diversity and individual capabilities[Culture change steps]
Verbalize culture：Establish universal values by the end of FY2024

Visualize culture：Conduct a culture change survey

Share culture：Incorporate into departmental/branch office plans

Reminder mechanism：Set a “day to think about customers”

Minimum level normally expected by customers
Level of service
exceeding customer expectations

Unsatisfactory
Compliance

Conduct risk
Mattersthat must
必ず守らなければ
be complied
ならないことwithLevel ofservicepromised tocustomers

Uncover needs and area of improvement from all
customer touchpoints, and set specific KPIs for
quality management

Application

Premium
payment

Certificate
receipt

ContractchangeAccident
reportClaim
payment

45

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

New Sompo Japan (7) Operational Reform (Data-Driven Operations, Human Capital Investment)
Promote data-driven operations by strengthening the data infrastructure for implementing reforms under SJ-R
Make steady efforts to improve profitability in the medium term by strengthening talent development and humancapital investment to improve employee skills
Data-driven operations
Give priority to develop data infrastructure for the underwriting and claims service departments to implement reforms

What

How
Data management and analysis

・Timely and multifaceted financial management by segment
・Cost per claim monitoring for payment adequacy andfraud detection, etc.

Realize in order of priority a state where necessary data
can be automatically obtained from the system byutilizing Foundry, etc.
Continue developing the data infrastructure
in FY2025 onwards

Human capital investment,
talent development
Turn the talent portfolio comprising mostly of generalists into a well-balanced portfolio with specialists, increase human capital investment

Generalists, etc.
95%
Specialists 5%

5 years’ time＜Talent portfolio at the Headquarters (image)＞

As Is

•
•

Workload reduction

Generalists, etc.
30%
Specialists 35%

Digitalization,
division of duties(1) Increase external recruitment (mid-career, job-based graduate recruitment)(2) Revise the HR system (revise the job-based system, etc.)(3) Increase specialization of the talent portfolio (strategic job rotation)46

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Overseas Insurance and Reinsurance Business (1) Review of Previous Mid-Term Management Plan•

Adjusted profit and gross written premiums meaningfully exceeded the mid-term plan targets•

The combined ratio improved significantly and even after accounting for the unanticipated effects of inflation, funding of the recently
approved overseas strategic initiatives and the challenging U.S. agriculture growing conditions

Ajusted profit

Gross written premiums (SI Commercial*1)
Achieved

KPI¥100.0 bn. +(FY2023 plan)(¥ bn.)

Achieved

KPI

CAGR ＋9％(3-year period)($ mn.)

CAGR
＋76%

KPI
(FY2023 plan)

88% level

（%）

CAGR
＋15%

163.1

Combined ratio*2 (SI Commercial)

96.4

14,37013,484
12,272

93.3
61.8

91.8※3

9,354

92.8

92.4

30.0

FY2020

FY2021

FY2022

FY2023

FY2020

FY2021

FY2022

FY2023

FY2020

FY2021

FY2022*1 For FY2023, the commercial business within Sompo Sigorta, Sompo Seguros and Asia subsidiaries is included within SI Commercial and represented $871 million of gross premiums written*2 Excl. corporate expense*3 Excludes one-time FY2023 reserve increase which has a related impact of 6.4 ppts. on the loss ratio

FY202347

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Overseas Insurance and Reinsurance Business (1) Review of Previous Mid-Term Management Plan (Improving Profitability and Stability)•

Strengthened profitability and the balance sheet for future years by achieving rate increases in excess of loss costs, adjustingpremiums retained based on profitability and risk appetite, while strengthened reserves•

A larger, globally diversified portfolio has stabilized the impact of catastrophe losses on the combined ratio

AY loss ratio*1

PYD adverse impact on loss ratio*2

Impact of catastrophe losses on the combined ratio
Net incurred losses related to overseas natural disasters
Loss ratio impact

57.2%($ mn.)

56.9%

553
464

Strengthend
reserves
6.4%

54.2%

324

293

53.8%
6.6%

2.1%
1.0%
FY2020

FY2021

FY2022

FY2023*1 SI Commercial (excl. AgriSompo and CATs/COVID-19)

FY2020*2 SI Commercial

FY20211.4%
0.9%
FY2022

FY20236.3%

6.7%

FY2020

FY2021

FY2022

3.6%

FY202348

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Overseas Insurance and Reinsurance Business (3) Further Success for the New Mid-Term Management Plan•

Significant strategic initiatives achieved in FY2023 to drive further success for the new mid-term management plan

Focused on enhancing
shareholder value

Product
diversification

Preparing for cycle management
Maintaining underwriting
discipline

Previous MTMP
The achievements of the last mid-yearplan provides a good foundation for
the FY2024-FY2026 plan

Geographic
diversification

Customerbase

Strategic growth plan
Dynamic operating
environment✓ Rrate environment to keep pace with claims inflation✓ Tailwinds from interest rates✓ Moderating economic inflation

49

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Overseas Insurance and Reinsurance Business (4) Main KPIs of the New Mid-Term Management Plan•

Adjusted profit is expected to grow supported by expanding underwriting income and higher net investment income•

Strategic initiatives started in 2023 and continuing through the mid-term plan will generate top line growth and support profitable
growthAdjusted profit

Gross written premium (Strategic initiatives)

CAGR +10%

KPI($ mn.)

KPI$1.0 bn. +(FY2026 estimate)($ mn.)

Asia

CanadaCAGR+10%EuropeROE
KPI(FY2026 estimate)

13% +

US

13% +

$1.0 bn. +1,500 +

1,150

1,243

13.1%

216

FY2023

FY2024FY2026(forecast)(estimate)

Adjusted profit growth supported by strong
underwriting income and expansion of net
investment income

FY2023

FY2024FY2026(forecast)(estimate)

Gross written premium growth supported
by strategic initiatives and stable pricing

FY2023

FY2026(estimate)

Cross-Cycle ROE improves over the mid term
plan reflecting greater profitability and scale

50Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Overseas Insurance and Reinsurance Business (5) Major Initiatives (Overview)•

Continue to annually grow adjusted profits over the mid-term plan with gross premiums written growth supported by disciplined renewal of existing
portfolio and contributions from growth initiatives•

Increase in net investment income through higher book yields and greater underwriting cashflows, while evaluating of potential M&A opportunities

Strategic Objectives FY 2024 through FY 2026

Top-line growth supported
by strategic initiatives

Rate increases
approximate loss cost trends

Disciplined
underwriting

Increase in net
investment income

Continual evaluationof potential M&A
opportunities

Maintain stable
underwriting margins

Greater underwriting
cashflows

Disciplined M&A
based on valuation

Premiums retained based on
profitability and risk appetite

Higher book yields

Global geographic
expansion

51

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Overseas Insurance and Reinsurance Business (5) Major Initiatives (Progress in Geographical Expansion)••

Progress in geographical expansion initiatives such as opening branches and hiring underwriting teams in the U.S., Canada,Continental Europe, and Singapore
Aim to grow gross premiums written through geographic expansion by leveraging global brand and underwriting capabilities

Expand the base established in FY2023 within each region through hiring additional underwriters and adding new products

EuropeCanadaFY2023

FY2023

Expanded operations inFrance, Germany, Austria,
Switzerland, Italy,
Spain, and the UK(outside of London)

Opened an office in Toronto
to provide insurance andreinsurance products

FY2024-2026

FY2024-2026

Expand underwriters
and products offeredContinue to attract
underwriters and launch
new products, while
opening additional offices

Singapore
FY2023
Added commercial
underwriters to serve
the wholesale
distribution channel

FY2024-2026
Hire additional staff
and meaningfully
expand operations

United States
FY2023Opened an office in
Denver while expanding
Dallas and Houston offices

FY2024
Attract additional
underwriters while
expanding Chicago,
Los Angees, Irvine andBoston offices.
Open new office in Miami.

52

Summary

Business Strategy

Previous Mid-Term Management Plan New Mid-Term Management Plan

Overseas Insurance and Reinsurance Business (6) Gross Premium Written to Continue to Grow•

Gross premium written growing to over $18.0 bn. by FY2026 and adjusted profit CAGR of 10% over the new mid-term management
plan•

Diversity across multiple business lines to protect against potential individual downturns in the market

Gross written premiums and adjusted profit growth($ mn.)

Gross written premiums

Gross written premium diversity

Adjusted profit

Specialty
11.9%

CAGR +10%
1,243

AgriSompo
16%

18,000 +1,150

Professional
18.6%

Gross written premium

Property$18.0 bn. +17%(FY2026 estimate)

16,41915,619Catastrophe
4%

FY2023

FY2024FY2026(forecast)(estimate)Casualty

Other

25%

8%

The arrows show the direction of weight since FY2023 (illustration)

53

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Overseas Insurance and Reinsurance Business (7) Underwriting Margins Are Expected to Remain Stable across the Mid-Term Management Plan•

Overall underwriting margins are expected to remain stable as expenses related to strategic initiatives will peak in FY2024 while
forecasted loss ratios stabilize as pricing increases are expected to approximate inflation rates

Expense ratio
Acquisition

28.5%

Loss ratio
G&A

Corporate

Expense ratio

Loss ratio (Accident Year, ex. CAT）

29.7%

29.0%

Loss ratio

64.6%

63.8%

8.6%

Catastrophes

3.6％

64.8%

60.2%
18.6%

FY2023

FY2024FY2026(forecast)(estimate)

FY2023

FY2024FY2026(forecast)(estimate)54

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Overseas Insurance and Reinsurance Business (8) Net Investment Income Continues to Expand•

Net investment income expected to increase as investment portfolio grows supported by operating cashflow while book and market
yields converge

Net investment income continues to expand

Assets under management expand while book and market yields converge($ bn.)($ mn.)

Market yield

AuM

Book yield*

125.0 +
1,078

5.7%

993

2.3%

1.4%
525
15.1

412

2.1%

Convergence
5.6%

26.6

3.8%

1.8%
17.0

6.4%

22.3

22.9

FY2023

FY2024FY2026(forecast)(estimate)

19.1

327

FY2020

FY2021

FY2022

FY2023

FY2024FY2026(forecast)(estimate)

FY2020

FY2021

FY2022* SI Commercial

55Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Wellbeing (Domestic Life Insurance) (1) Review of the Previous Mid-Term Management Plan•In FY2023, adjusted profit hit a record high of JPY41.8 billion, achieving the target under the previous mid-term management plan

Strong progress was made in establishing the platform as a health support company through the sales of Insurhealth®, healthpromotion, etc.
Annualized new premium
Adjusted profit
Insurhealth track record(performance evaluation basis)
Achieved•

Previous
MTMP KPI(FY2023 plan)

Record high profit¥40.0 billion or more(¥ bn.)

Previous
MTMP KPI

Insurance product sales*2(¥ bn.)CAGR +9%
Reduction by one-off effect(COVID-19 effect -220)

32.5*1¥50.0 bn.

(FY2023 plan)

CAGR +9%
41.8

New business1.61 million
38.2

33.6

35.6

Annualized
new premium*3

JPY115.9 bn

36.1

Health promotion
29.8

17.8

Success in Get☆Healthy
Challenge! Program*4

c. 13,000 people

FY2020

FY2021

FY2022

FY2023

FY2020

FY2021

FY2022

Hospitalization rate

50%*5

FY2023*1 Definition of the last MTMP *2 Cumulative total since launch in April 2018 *3 Performance evaluation basis*4 A scheme to return the benefit from improving the BMI and blood pressure and quit smoking after purchasing a policy *5 Compared with those who did not succeed in the program56

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Wellbeing (Domestic Life Insurance) (2) Main KPIs of the New Mid-Term Management Plan•Through insurance products and healthcare services, Himawari Life increases its clients/users, and strengthens the platform for promoting health behavior
change•In FY2026, the ROE is expected to increase to 12% or higher, driven by new business CSM growth from Insurhealth® and cost structure reform

ROE*
KPI
(FY2026 estimate)

New business CSM
KPI

12% +

(FY2026 estimate)

Himawari clients/users¥93.0 bn.

(¥ bn.)

Above +2.8pt

New MTMP KPI(mn. people)

CAGR +12%

GAGR +11%12% +7 million(FY2026 plan)

93.0

68.1

5.02

9.2%

FY2023

FY2026FY2023(estimate)* IFRS adjusted profit basis by using capital allocated for economic value-based risk amount

7.00

FY2026(estimate)

FY20235.50

FY2024FY2026(Plan)(Plan)

57

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Wellbeing (Domestic Life Insurance) (3) Main Initiatives•

Himawari Life strengthens sale structure, product & service development, and administrative work infrastructure as a health support
company•

Improves productivity by controlling recurring expenses and investing in priority areas through selection and concentration

Establish
trade-on sales-Propose insurance product &health service to deliver unified value-

Greater number of Himawari
clients/users can enjoy the

Increase Himawari clients/users andpromote health behavior

Value of
Insurhealth®

Evolveheath promotion

Himawari clients/users(FY2026 target)

7 million people-Develop insurance product &service together, develop healthsupport back office operations*1-*3
Turn health promotion CX*2 No. of heath actions(FY2026 target)
into a strength

5.5 million

Hands-oncapabilities

Cost structure reform～Productivity improvement～

Control recurring expenses

Health support company

Digital& Dataデジタル・データ

Focused investment in areas of priority

Value Criteria＝Customer-centered operations and broader compliance*4*1 The back office promotes health at customer touchpoints*2 Communication activities by sales representatives and the Headquarters as one to promote customers’ health*3 No. of health actions taken by Himawari clients/users *4 Gain trust by meeting society’s expectations as a health support company, not just complying with laws and regulations

58

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Wellbeing (Nursing Care) (1) Review of the Previous Mid-Term Management Plan•

Adjsuted profit for FY2023 achieved the target due to a rise in the occupancy rate, productivity improvement, and the acquisition of ND Software while improving
employee compensation•

The occupancy rate declined temporary due to COVID-19, but rose to a record high of 92.9% at the end of FY2023 through sales activities to increase residents

Adjusted profit

Occupancy rate
Achieved

Previous
MTMP KPI¥8.0 bn. or more

(FY2023 plan)(¥ bn.)

Previous
MTMP KPI

Main initiatives and challenges

Expand businessfoundation

93.8%(FY2023 plan)(¥ bn.)New carefacilities

3

8.8

92.9%
92.3%

7.3
5.9

91.1%

5.9

New at-homecare offices

99

Care provider
acquisition

3 companies

Acquisition of ND Software
Compensation improvement(In two stages, ¥3.0 bn. in total)

89.4%

Challenges under the new
Mid-Term Management Plan
Quality and
FY2020

FY2021

FY2022

FY2023End of

End of

End of

End of

FY2020

FY2021

FY2022

FY2023productivity

improvement

Strengthen businessfoundation
Become a platformer

59

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Wellbeing (Nursing Care) (2) Main KPIs of the New Mid-Term Management Plan•

The ROE is expected to decline temporarily in FY2024 due to compenstation improvement and investment in new facility development,
but is likely to rise to 12% or higher driven by growth of existing businesses and new facilities as well as productivity improvement•

The occupancy rate is expected to rise steadily

ROE (Operator business*)
New MTMP KPI(FY2026 estimate)Occupancy rate (Sompo Care)
New MTMP KPI

12% +

95.5%

(FY2026 estimate)

95.5%

12% +

11.7%
92.9%

FY2023

FY2026(estimate)

End of FY2023

94.1％

End of FY2024

End of FY2026(forecast)(estimate)* Calculated by using adjusted profit of the business of which public long-term care benefits are the main source of revenue (care facilities, at-home care offices, etc.) as the numerator.

60

Summary

Previous Mid-Term Management Plan New Mid-Term Management Plan

Business Strategy

Wellbeing (Nursing Care) (3) Main Initiatives•••

Wellbeing business aims to bridge the gap between the labor supply and demand in nursing care sector, which is a social challenge, by transforming thenursing care business into a platformer.
Sompo Care aims to lead nursing care industry transformation by strengthening operating foundation
ND Software will care providers to improve the quality of care through software development and outsourcing services

Sompo Care transforms Japan’s nursing care, and builds the future of Japan

Strengthen
the operator business
Secure and develop HR
Improve productivity &quality
Sustainable growth of thenursing care business

Strengthen
the well aging business
Optimal resource
allocation to adjacentbusinesses of nursing care

Lead to “Connect”

A software company that provides best support to nursing care providers in Japan

Contribute to closing the labor
supply-demand gap in nursing care

Developthe platform business

Product development

Visualize know-how
acquired in the nursing
care business

Cloud-migration,
revamp UI/UX,
streamlining

CareBase
Deliver value to careproviders

Revamp “Honobono”, thenursing care operations
management software

Strengthen sales & support
Strengthen support bysales, consultancy, andonline services
Increase customer
satisfaction
Human capital investment
Compensation improvement
improve training environment

Secure and develop HR(incl. engineers)61Reference62Definition of Financial Metrics
Definition of adjusted profit*1 (FY2024)
Domestic P&C

Net income＋Provision for catastrophic loss reserve, etc.
(after tax)
＋Provision for price fluctuation reserves(after tax)
－Gains/losses on sale of securities andunrealized losses on securities (after tax)

Overseas

Operating Income*2
Net income for equity-method affiliates in principle

Domestic LifeNet income＋Provision for contingency reserve, etc.
(after tax)
＋Provision for price fluctuation reserve(after tax)
＋Adjustment of underwriting reserve (after tax)
＋Deferral of acquisition costs (after tax)
－Amortization of acquisition costs (after tax)
－Gains/losses on sale of securities andunrealized losses on securities (after tax)

Nursing CareOther

Net income

Definition of adjusted net assets and adjusted ROE (FY2024)

Adjusted consolidated
net assets

Domestic life
insurance adjusted
net assets

Consolidated net assets(excluding net assets of domestic life insurance)＋Catastrophic loss reserve, etc. in domestic
P&C insurance (after tax)
＋Price fluctuation reserve in domestic P&C
insurance (after tax)
＋Domestic life insurance adjusted net assets
Net assets of domestic life insurance (J-GAAP)＋Contingency reserve (after tax)
＋Price fluctuation reserve (after tax)
＋Adjustment of underwriting reserve(after tax)
＋Unamortized acquisition costs (after tax)

Adjusted
consolidated ROE

Adjusted consolidated profit/ Adjusted consolidated net assets*3

ROE of business

Adjusted profit of the business/ Capital allocated to the business*4

Planned treatment after IFRS adoption
IFRS
net
incomeIFRS
adjusted
profit(Reference)
Current
adjusted
profitGains/losses on sale ofstrategic holding stocks

-

-

-

Expected credit loss

✓

-

-

Effects of financial market
fluctuations*5

✓

-

-

Catastrophic loss reserve
etc.

-

-

-

Impairment of goodwill,other intangible fixed assets

✓

-

-

IFRS adjusted ROE

IFRS adjusted consolidated profit/ IFRS consolidated net assets*6

Net income－Gains/losses on sale of investment andunrealized losses on investment (after tax)

*1 Adjusted profit for each business excludes one-time factors and special factors, such as group company dividends*2 Operating income excluding one-time factors(＝Net income－Foreign exchange gains/losses－Realized and unrealized gains/losses on securities－Impairment losses, etc.)*3 Average balance at the start/end of each fiscal year
*4 Total of consolidated net assets of companies belonging to the business segment or required capital based on the risk model, average balance at the start/end of each fiscal year
ROE of nursing care operator business*5 Gains/losses arising from change in fair value of securities, gains/losses arising from changes in foreign exchange rates, etc.
*6 Excludes other comprehensive income (OCI) from investment (mainly valuation difference on securities)

63

Management Targets
Adjusted consolidated profit and adjusted consolidated ROE(¥ bn.)FY2023(Actual)FY2024FY2026 (IFRS basis)(Segment ROE)

(Forecast)(Segment ROE)

9.2%

-

Approx. 7%-

13-15%----CAGR 12% +

291.0

-

255.0

-

-

Domestic P&C

72.3

4.5%

15.0

1.5%

-

Overseas

163.1

13.1%

190.0

12.8%

-

Domestic Life

41.8

6.6%

41.0

7.3%

-

Nursing Care

8.8

11.7%

6.0

10.9%

-

Other

4.8

-

3.0

-

-

Adjusted consolidated ROE
Adjusted EPS growth
Adjusted consolidated profit(Plan)* See page 63 for definition

64Note Regarding Forward-looking Statements
Forecasts included in this document are based on currently available information and certain
assumptions that we consider reasonable at this point in time. Actual results may differ
materially from those projected herein depending on various factors.

Contacts

Investor Relations Department
Telephone :E-Mail:URL:+81-3-3349-3913
ir@sompo-hd.com
https://www.sompo-hd.com/en/