Daiichi Life Group (8750) Investor update summary

Strategic repositioning and growth initiatives

• Undertook strategic capital actions, including divestitures and reinsurance, to improve capital efficiency and reduce non-core risks.

• Expanded scale and diversification through acquisitions of Portfolio, Obsidian, and ShelterPoint, targeting growth in capital-light businesses and diversifying earnings.

• Enhanced investment strategy by expanding asset classes, increasing allocation to private assets, and partnering with third-party managers to improve returns and risk profile.

• Focused on cost efficiency, operational excellence, and talent transformation to drive sustained growth toward 2030 goals.

• Set ambitious 2026 and 2030 goals, leveraging multiple growth levers across retail, investment, and operational areas.

Business segment performance and outlook

• Protection division aims for accelerated earnings growth, driven by term insurance and improved profitability.

• Retirement division targets organic growth in fixed and variable annuities, with fixed annuities as the main earnings driver.

• Asset Protection Division expects doubled size and improved loss ratios through Portfolio acquisition and rate increases.

• Employee benefits division anticipates premium growth, especially in paid leave products, supported by ShelterPoint acquisition.

• Obsidian acquisition to expand presence in the E&S P&C market, contributing to fee-based earnings.

Acquisition integration and business diversification

• Portfolio acquisition closed in January 2026, combining industry leaders and accelerating organic growth.

• Obsidian acquisition expected to close by early 2027, adding fee-based P&C business and new growth opportunities.

• Integration efforts focus on leadership retention, product synergy, and technology optimization.