1. Summary of the Life Insurance Market in Fiscal 2014

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1 a) Insurance Business Results 1) Individual Insurance The number of new policies for individual insurance (including converted contracts) was million (102.1% y/y), and the amount of new policies 1 (reflecting the net increase arising from the conversion) was 67,431 billion yen (100.9% y/y) for fiscal By type of new policies for individual insurance (excluding converted contracts), medical life insurance ranked top in number (25.3% of the total), followed by whole life insurance (23.1%), term insurance (14.9%), cancer insurance (11.8%) and endowment insurance (9.0%). Of the total amount of new policies for individual insurance (excluding converted contracts), term insurance ranked top (31,099 billion yen, 44.5% of the total), followed by whole life insurance (15,208 billion yen, 21.8%), endowment insurance (4,653 billion yen, 6.7%), whole life insurance with interest-sensitive reserve fund (2,972 billion yen, 4.3%) and juvenile insurance (2,273 billion yen, 3.3%). The number of policies in force for individual insurance was million (105.5% y/y), and the amount of policies in force was 857,432 billion yen (100.0% y/y). As for the number of policies in force for individual insurance, medical life insurance ranked top (21.1% of the total), followed by whole life insurance (20.8%), cancer insurance (14.5%), term insurance (12.2%), endowment insurance (8.5%) and whole life insurance with term rider (7.2%). Of the total amount of policies in force for individual insurance, term insurance ranked top (237,329 billion yen, 27.7% of the total), followed by whole life insurance (157,989 billion yen, 18.4%), whole life insurance with term rider (154,620 billion yen, 18.0%), whole life insurance with interest-sensitive reserve fund (91,787 billion yen, 10.7%) and endowment insurance (42,160 billion yen, 4.9%). Table 1 New Policies and Policies in Force for Individual Insurance Year New Policies (Number: million, Amount: billion yen, Y/Y: %) Policies in Force Number Amount Number Amount Y/Y Y/Y Y/Y Y/Y , , , , , , , , , , *The number includes converted contracts, and the amount reflects the net increase arising from the conversion. 1 The amount of major protections such as death protection. 2

2 Figure 1: Percentage Distribution of Individual Insurance by Type (Number of New Policies) Whole Life Insurance Whole Life with Term Rider Whole Life with Interestsensitive Reserve Fund Term Insurance Variable Insurance Endowment Insurance Medical Life Insurance Cancer Insurance Juvenile Insurance Others Figure 2: Percentage Distribution of Individual Insurance by Type (Number of Policies in Force) Whole Life Insurance Whole Life with Term Rider Whole Life with Interestsensitive Reserve Fund Term Insurance Variable Insurance Endowment Insurance Medical Life Insurance 21.1 Cancer Insurance 12.2 Juvenile Insurance Others 3

3 2) Individual Annuity Insurance The number of new policies for individual annuity insurance (including converted contracts) was 1.59 million (106.0% y/y), and the amount of new policies (reflecting the net increase arising from the conversion) was 8,632 billion yen (107.9% y/y). Of all the number of new policies for individual annuity insurance (excluding converted contracts), that of fixed individual annuity insurance accounted for 83.2% of the total and that of variable individual annuity insurance accounted for 16.8% of the total in fiscal Of the total amount of new policies for individual annuity insurance (excluding converted contracts), that of fixed individual annuity insurance was 7,001 billion yen (80.9% of the total) and that of variable individual annuity insurance was 1,653 billion yen (19.1%). The number and amount of policies in force for individual annuity insurance for this fiscal year were million (100.1% y/y) and 104,131 billion yen (100.3% y/y). As for the number of policies in force for individual annuity insurance, that of fixed individual annuity insurance accounted for 87.1% and that of variable individual annuity insurance for 12.9% of the total. Of the total amount of policies in force for individual annuity insurance, that of fixed individual annuity insurance was 88,052 billion yen (84.6% of the total) and that of variable individual annuity insurance was 16,078 billion yen (15.4%). Table 2 New Policies and Policies in Force for Individual Annuity Insurance (Number: million, Amount: billion yen, Y/Y: %) New Policies Policies in Force Number Amount Number Amount Year Y/Y Y/Y Y/Y Y/Y , , , , , , , , , , , *The number includes converted contracts, and the amount reflects the net increase arising from the conversion. 4

4 Figure 3: Percentage Distribution of Individual Annuity Insurance by Type (Number of New Policies) 16.8 Fixed Annuity Variable Annuity 83.2 Figure 4: Percentage Distribution of Individual Annuity Insurance by Type (Number of Policies in Force) 12.9 Fixed Annuity Variable Annuity

5 3) Medical Insurance Individual insurance products that provide medical coverage includes insurance policies with medical riders as well as medical insurance, which provide hospitalization and surgery protection as a base policy. The number of policies in force of medical life insurance which provides protection against hospitalization and surgery as a base policy was million (106.6% y/y), and that of cancer insurance was million (103.8%). With respect to insurance policies with hospitalization and surgery coverage (the sum of riders and medical insurance base policies among individual life insurance and individual annuity insurance), the number of policies with accidental hospitalization riders in force was million (101.7% y/y), those with sickness hospitalization riders in force was million (102.1% y/y), and those with surgical benefit riders in force was million (102.3% y/y). Table 3 Numbers of Policies in Force for Medical Insurance, Cancer Insurance and Insurance Contracts with Hospitalization and Surgery Coverage (Number: million Y/Y: %) Number of Policies in Force for Contracts with Number of Base Policies in Force Hospitalization and Surgery Coverage Year Medical Cancer Accidental Sickness Surgery Insurance Insurance Hospitalization Hospitalization Y/Y (%)

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