The nation's six major nonlife insurers reported higher first-half net profits from a year ago thanks to a decline in natural disasters, according to parent-only earnings reports released Tuesday.
In the April-September period, the six insurers -- Tokio Marine & Nichido Fire Insurance Co. (part of Millea Holdings Inc.), Sompo Japan Insurance Inc., Mitsui Sumitomo Insurance Co., Aioi Insurance Co., Nipponkoa Insurance Co. and Nissay Dowa General Insurance Co. -- chalked up a combined 147.40 billion yen in net profits, compared with 60.81 billion yen the previous year.
The improvement poses a sharp contrast with first half of 2004, when their profits fell sharply due to huge payouts caused by multiple typhoons hitting Japan.