ＤＤNEWSRELEASE

April 26, 2021
Ryosuke Mori, President
LIFENET INSURANCE COMPANY(Securities Code: 7157, TSE Mothers)

Notice of Termination of Strategic Alliance Agreement
between Lifenet and Swiss Re Life Capital
TOKYO, April 26, 2021 – LIFENET INSURANCE COMPANY (TSE Mothers 7157, President:
Ryosuke Mori, URL: https://ir.lifenet-seimei.co.jp/en/) hereby announces that the Strategic
Alliance Agreement (the “Agreement”) with Swiss Re Life Capital Ltd (“SRLC”) has terminatedon April 25, 2021 due to the expiration of the term of agreement.
1. Background of the termination of the Strategic Alliance Agreement
In April 2013, Lifenet entered into the Agreement with Swiss Reinsurance Company Ltd. Dueto a change of shareholding company within the Swiss Re Group, in March 2017, theAgreement was re-signed with SRLC. Through the Agreement, both parties benefited frommutual business expansion through knowledge sharing and collaboration in areas such as
online distribution, product development and underwriting. Over the last eight years, Lifenet has
greatly increased its policies in-force from approximately 170,000 at the time of commencementof alliance to approximately 430,000 (as of March 2021), while gaining a broad range ofexperience as a life insurance company. Having confirmed that Lifenet has achieved its set
goals as a result of this business alliance, and so that both parties may continue to achieve
further growth in a changing business environment and an ongoing pandemic, the Agreement
has been terminated, which expired as of April 25, 2021.
2．Summary of the Counterparty(as of March 31, 2021)
Company Name

Swiss Re Life Capital Ltd

Location

Mythenquai 50/60, 8002 Zurich, Switzerland

Representative

Chairman of the Board of Directors,
Christian MumenthalerBusiness Description

A holding company of business department(life insurance)

Capital

CHF 100,000

Establishment Date

December 16, 2010

Large Shareholders and Shareholding
RatiosSwiss Re Ltd 100%

Relationships

CapitalRelationship

SRLC holds 5,683,900 shares (9.37%) of Lifenet

Personnel
Relationship

None

Transactional
Relationship

None

LIFENET INSURANCE COMPANY
Copyright© LIFENET INSURANCE COMPANY All rights reserved.

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ＤＤ
NEWS
RELEASEThe Performance Results and Financial Positions of the Past Three Years, US GAAP resultsfor SRLC (USD in millions)Fiscal Year

FY 2018

FY 2019

FY 2020

Total shareholder’s equity

5,342

5,768

6,776

Total assets

5,447

5,887

6,908

1,036

583

1,845

Ordinary income (EBIT)

996

533

1,774

Net income

994

533

1,774

Operating income(Revenues)

3．Future Prospect
The effects the termination of the Agreement will have on Lifenet's business performance areminor.

About LIFENET URL： https://ir.lifenet-seimei.co.jp/en/
Remembering to the original purpose of life insurance - mutual support - LIFENET
INSURANCE COMPANY was founded with the goal of offering simple, convenient, andcompetitively priced products and services based on the highest levels of business integrity. We
sell these products and services directly to customers over the Internet. By using the Internet,
we are able to offer highly cost-competitive products and accept applications from customers at
any given time.
Contact:
Investor Relations, Corporate Planning DepartmentTel:+81-3-5216-7900
e-mail: ir@lifenet-seimei.co.jp
Disclaimer: This is a summarized translation/version of the original Japanese document, prepared and provided
solely for readers' convenience. In case of any discrepancy or dispute, the Japanese document prevails.

LIFENET INSURANCE COMPANY
Copyright© LIFENET INSURANCE COMPANY All rights reserved.

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