Seven of the nation's nine largest nonlife insurers reported an increase in net profits Friday, as elevated stock prices helped cover for limping sales.

Net premium -- the equivalent of sales -- inched up just 3.8 percent on a year-on-year basis to 3.5 trillion yen, as competition whittled away prices.

High exposure to stock prices worked in nonlife insurers' favor this year, elevating corporate worth. Unrealized gains on domestic stocks shot up 65 percent from the end of March to 3.5 trillion yen.