MS&AD Insurance Group (8725) Q1 2027 earnings summary

Executive summary

• Adjusted profit rose by 71.1 billion yen year-over-year to 310.6 billion yen, reaching 38.8% of the full-year forecast.

• Insurance revenue increased by 208.8 billion yen year-over-year to 1,615.8 billion yen, a 14.8% rise.

• Insurance revenue rose 14.1% year-over-year to ¥1,686.2 billion for the quarter ended June 30, 2026, with net income attributable to owners up 33.4% to ¥328.6 billion.

• Income before tax increased 33.4% year-over-year to ¥440.9 billion, driven by higher investment gains and improved insurance service results.

• All business segments—domestic non-life, international, and domestic life—reported profit growth.

Financial highlights

• Adjusted profit (excluding gains from sales of strategic equity holdings) increased by 64.7 billion yen to 251.0 billion yen, achieving 47.2% of the full-year forecast.

• Insurance service result was ¥209.2 billion, with insurance revenue of ¥1,686.1 billion and insurance service expenses of ¥1,327.0 billion.

• Financial result was ¥245.7 billion, including investment gains of ¥474.8 billion and insurance finance losses of ¥229.1 billion.

• Basic earnings per share increased to ¥226.84 from ¥162.99 year-over-year.

• Domestic non-life adjusted profit (excluding equity sales) rose by 4.2 billion yen to 124.0 billion yen.

Outlook and guidance

• Group adjusted profit progress rate is 38.8% of the full-year forecast; excluding equity sales, progress is 47.2%.

• Full-year net income attributable to owners is forecast at ¥425.0 billion, down 16.8% from the prior year, with basic EPS projected at ¥295.75.

• Dividend forecast for the year ending March 31, 2027 is ¥170.00 per share, including ordinary and special dividends.

• Domestic non-life business achieved 73.0% of its full-year adjusted profit target (excluding equity sales).

• International business progress rate is 36.3% of the full-year target.