Business Services Industry
Japan-based Nippon Life Insurance solvency margin ratio up to 927.9 percent.
Knight Ridder/Tribune Business News, November, 2004
Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Nov. 26--TOKYO -- Nippon Life Insurance Co. said Friday its solvency margin ratio, a key gauge of an insurer's ability to pay policyholders, stood at 927.9 percent as of Sept. 30, up from 893.8 percent as of March 31.
The rate was well above the 200 percent threshold below which the government requires insurers to take prompt corrective action.
In its earnings report for the six months to Sept. 30, the largest Japanese life insurer said that life insurance and annuity contracts newly signed with individuals dropped 11.4 percent from a year earlier to 9,158.2 billion yen.
The outstanding balance of such contracts came to 272,160.7 billion yen, down 2.2 percent...
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