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09-04-12 nksj_results_Q1-2

09-04-12 nksj_results_Q1-2

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UNOFFICIAL TRANSLATION

This document is an unofficial English translation of the Japanese original.

Summary of Quarterly Consolidated Financial Results for the three months ended June 30, 2012 Supplementary Information

August 13, 2012

NKSJ Holdings, Inc.
( Stock code number : 8630 )

NKSJ Holdings, Inc.

Summary of Consolidated Financial Results for the three months ended June 30, 2012 Supplementary Information Contents

Overview of Business Results of Principal Consolidated Subsidiaries Sompo Japan Insurance Inc. (Non-consolidated) ······································································································· Quarterly Balance Sheets ············································································································································ Quarterly Statements of Income ··································································································································· Premiums Written and Claims Paid by Business Lines ······························································································ Solvency Margin Ratio (Non-consolidated) ················································································································· NIPPONKOA Insurance Co., Ltd. (Non-consolidated) ································································································· Quarterly Balance Sheets ············································································································································ Quarterly Statements of Income ··································································································································· Premiums Written and Claims Paid by Business Lines ······························································································ Solvency Margin Ratio (Non-consolidated) ················································································································· Sonpo 24 Insurance Company Limited (Non-Consolidated) ···················································································· Quarterly Balance Sheets ············································································································································ Quarterly Statements of Income ··································································································································· Premiums Written and Claims Paid by Business Lines ······························································································ Solvency Margin Ratio (Non-consolidated) ················································································································· Saison Automobile and Fire Insurance Company, Limited (Non-consolidated) ··················································· Quarterly Balance Sheets ············································································································································ Quarterly Statements of Income ··································································································································· Premiums Written and Claims Paid by Business Lines ······························································································ Solvency Margin Ratio (Non-consolidated) ················································································································· NKSJ Himawari Life Insurance, Inc. (Non-consolidated) ·························································································· Quarterly Balance Sheets ············································································································································ Quarterly Statements of Income ··································································································································· Major Business Results (Total amount of policies in force, total amount of new policies, and annualized premiums) ··································· Solvency Margin Ratio (Non-consolidated) ················································································································· Sompo Japan DIY Life Insurance Co., Ltd. (Non-consolidated) ·············································································· Quarterly Balance Sheets ············································································································································ Quarterly Statements of Income ··································································································································· Major Business Results (Total amount of policies in force, total amount of new policies, and annualized premiums) ··································· Solvency Margin Ratio (Non-consolidated) ················································································································· 2 2 3 4 5 6 6 7 8 9 10 10 11 12 13 14 14 15 16 17 18 18 19 20 21 22 22 23 24 25

Supplementary Explanation ·········································································································································· 26 Calculation of ratios, etc. ·············································································································································· 26 Solvency margin ratio (Non-consolidated) ··················································································································· 26

1

NKSJ Holdings, Inc.

Overview of Business Results of Principal Consolidated Subsidiaries
Sompo Japan Insurance Inc. (Non-consolidated)
Quarterly Balance Sheets
As of March 31, 2012 As of June 30, 2012 (Millions of yen) Increase (Decrease)

Amount Assets: Cash and deposits Call loans Receivables under resale agreements Monetary receivables bought Money trusts Securities Loans Tangible fixed assets Intangible fixed assets Other assets Deferred tax assets Customers' liabilities for acceptances and guarantees Allowance for possible credit losses Allowance for possible investment losses Total assets Liabilities: Underwriting funds: Reserve for outstanding losses and claims Underwriting reserves Corporate bonds Other liabilities Reserve for retirement benefits Reserve for bonus payments Reserve for bonus payments to directors Reserves under the special laws: Reserve for price fluctuation Acceptances and guarantees Total liabilities Net assets: Shareholders' equity: Common stock Capital surplus Retained earnings Total shareholders' equity Valuation and translation adjustments: Unrealized gains and losses on securities available for sale, net of tax Total valuation and translation adjustments Total net assets Total liabilities and net assets 85,164 66,300 60,486 27,215 280 3,104,476 422,163 208,055 86 458,486 149,862 29,370 (3,152) (8,202) 4,600,592 3,459,994 620,037 2,839,957 128,000 296,255 79,511 14,316 101 14,436 14,436 29,370 4,021,985

Amount 66,254 42,800 91,982 26,655 280 3,000,303 420,154 206,489 86 359,293 172,972 74,700 (3,071) (8,202) 4,450,698 3,459,141 616,941 2,842,200 128,000 200,091 80,752 4,397 - 1,263 1,263 74,700 3,948,347 (18,910) (23,500) 31,496 (559) - (104,173) (2,008) (1,565) - (99,192) 23,109 45,330 80 - (149,893) (852) (3,095) 2,243 - (96,163) 1,241 (9,918) (101) (13,172) (13,172) 45,330 (73,637)

70,000 24,229 166,424 260,654

70,000 24,229 144,253 238,482

- - (22,171) (22,171)

317,953 317,953 578,607 4,600,592

263,868 263,868 502,351 4,450,698

(54,085) (54,085) (76,256) (149,893)

2

NKSJ Holdings, Inc.

Sompo Japan Insurance Inc. (Non-consolidated)
Quarterly Statements of Income
Three months ended June 30, 2011 (April 1 to June 30, 2011) Amount 438,046 419,260 327,788 27,546 9,698 - 53,633 17,621 23,814 0 6 3,467 (9,698) 1,165 431,105 369,456 205,838 23,027 56,493 37,818 45,418 - 4,389 284 1,418 55,111 2,148 1,863 6,941 71 71 - - 1,552 62 1,490 1,490 5,459 2,082 3,376 Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount 400,278 379,159 339,870 26,789 8,777 3,095 - 19,903 20,798 0 10 5,865 (8,777) 1,216 431,303 332,600 211,810 22,614 58,447 36,543 - 2,243 42,457 96 40,757 54,336 1,908 1,824 (31,024) 13,195 22 13,172 13,172 55 55 - - (17,884) 4,286 (22,171) Increase (Decrease) (Millions of yen) Rate of change

Ordinary income: Underwriting income: Net premiums written Deposits of premiums by policyholders Interest and dividend income on deposits of premiums, etc. Reversal of reserve for outstanding losses and claims Reversal of underwriting reserves Investment income: Interest and dividend income Investment gains on money trusts Investment gains on trading securities Gains on sales of securities Transfer of interest and dividend income on deposits of premiums, etc. Other ordinary income Ordinary expenses: Underwriting expenses: Net claims paid Loss adjustment expenses Net commissions and brokerage fees Maturity refunds to policyholders Provision for reserve for outstanding losses and claims Provision for underwriting reserves Investment expenses: Losses on sales of securities Impairment losses on securities Operating, general and administrative expenses Other ordinary expenses: Interest paid Ordinary profit (loss) Extraordinary gains: Gains on disposal of fixed assets Reversal of reserves under the special laws: Reversal of reserve for price fluctuation Extraordinary losses: Losses on disposal of fixed assets Provision for reserves under the special laws: Provision for reserve for price fluctuation Income (loss) before income taxes Income taxes and deferred income taxes Net income (loss) Underwriting result: Net premiums written Net claims paid Loss adjustment expenses Operating expenses: Net commissions and brokerage fees Operating, general and administrative expenses related to underwriting Underwriting result Underwriting profit (loss) Ratios: Net loss ratio Net expense ratio Underwriting result ratio

(37,768) (40,101) 12,082 (756) (921) 3,095 (53,633) 2,282 (3,016) (0) 3 2,397 921 50 197 (36,855) 5,972 (412) 1,954 (1,275) (45,418) 2,243 38,068 (187) 39,339 (775) (239) (39) (37,965) 13,124 (48) 13,172 13,172 (1,497) (7) (1,490) (1,490) (23,343) 2,204 (25,547)

(8.6) % (9.6) 3.7 (2.7) (9.5) - (100.0) 13.0 (12.7) (66.6) 58.2 69.1 - 4.4 0.0 (10.0) 2.9 (1.8) 3.5 (3.4) (100.0) - 867.2 (65.9) 2,773.8 (1.4) (11.2) (2.1) (547.0) 18,483.5 (67.8) - - (96.4) (11.5) (100.0) (100.0) (427.6) 105.8 (756.6)

(+) (-) (-) (-)

327,788 205,838 23,027 108,555 56,493 52,061 (9,632) (3,183)

339,870 211,810 22,614 109,525 58,447 51,077 (4,079) (5,408) 69.0 32.2 (1.2)

12,082 5,972 (412) 970 1,954 (984) 5,552 (2,225) (0.8) (0.9) 1.7

3.7 2.9 (1.8) 0.9 3.5 (1.9) - -

(%) (%) (%)

69.8 33.1 (2.9)

3

NKSJ Holdings, Inc.

Sompo Japan Insurance Inc. (Non-consolidated)
Premiums Written and Claims Paid by Business Lines
Direct premiums written (excluding deposits of premiums by policyholders)
Three months ended June 30, 2011 (April 1 to June 30, 2011) Business line Fire and allied insurance Marine insurance Personal accident insurance Voluntary automobile insurance Compulsory automobile liability insurance Others Total Deposits of premiums by policyholders Amount 42,875 8,055 36,872 163,640 48,683 55,279 355,405 27,546 % of total amount 12.1 % 2.3 10.4 46.0 13.7 15.6 100.0 ―― Rate of change 1.7 % 1.7 3.2 (0.5) 4.9 (2.8) 0.5 (6.5) (Millions of yen) Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount 45,632 8,285 37,436 167,127 52,606 57,388 368,476 26,789 % of total amount 12.4 % 2.2 10.2 45.4 14.3 15.6 100.0 ―― Rate of change 6.4 % 2.9 1.5 2.1 8.1 3.8 3.7 (2.7)

Net premiums written
Three months ended June 30, 2011 (April 1 to June 30, 2011) Business line Fire and allied insurance Marine insurance Personal accident insurance Voluntary automobile insurance Compulsory automobile liability insurance Others Total Amount 34,153 6,178 36,543 164,043 37,434 49,434 327,788 % of total amount 10.4 % 1.9 11.1 50.0 11.4 15.1 100.0 Rate of change (1.0) % (0.4) 2.7 (0.1) (4.0) (4.4) (1.0) (Millions of yen) Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount 36,057 6,108 37,221 167,615 43,667 49,200 339,870 % of total amount 10.6 % 1.8 11.0 49.3 12.8 14.5 100.0 Rate of change 5.6 % (1.1) 1.9 2.2 16.6 (0.5) 3.7

Net claims paid
Three months ended June 30, 2011 (April 1 to June 30, 2011) Business line Fire and allied insurance Marine insurance Personal accident insurance Voluntary automobile insurance Compulsory automobile liability insurance Others Total Amount 30,498 4,643 17,300 94,684 38,328 20,383 205,838 Rate of change 110.3 % 15.5 2.8 0.9 (1.1) (4.1) 8.8 Net loss ratio 91.1 % 79.1 52.0 67.1 111.0 45.1 69.8 (Millions of yen) Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount 33,231 3,054 17,451 100,533 39,528 18,009 211,810 Rate of change 9.0 % (34.2) 0.9 6.2 3.1 (11.6) 2.9 Net loss ratio 95.9 % 54.7 51.4 68.4 98.5 39.9 69.0

4

NKSJ Holdings, Inc.

Sompo Japan Insurance Inc. (Non-consolidated)
Solvency Margin Ratio (Non-consolidated)
As of March 31, 2012 (A) Total Solvency Margin (Non-consolidated) Capital and funds, etc. Reserve for price fluctuation Contingency reserve Catastrophic loss reserve General allowance for possible credit losses Unrealized gains and losses on securities (before tax effect deductions) Net unrealized gains and losses on land Excess amount of reserve for maturity refunds Subordinated debt, etc. Excess amount of reserve for maturity refunds and subordinated debt, etc. which are excluded from total solvency margin Deductions Others (B) Total Risks (Non-consolidated) 1,213,539 260,654 14,436 611 389,766 286 414,934 24,062 - 128,000 - 79,975 60,763 482,931 108,974 - 17,763 279,213 11,226 155,365 502.5 % (Millions of yen) As of June 30, 2012 1,101,745 238,482 1,263 611 384,970 234 338,494 24,040 - 128,000 - 65,335 50,983 443,165 109,032 - 17,763 260,425 10,423 133,950 497.2 %

(R1 + R2 )2 + (R3 + R4 )2

+ R5 + R6

Underwriting risk ( R1 ) Underwriting risk for third-sector insurance products including accident, sickness and nursing-care insurance ( R2 ) Guaranteed interest rate risk ( R3 ) ( R4 ) Investment risk ( R5 ) Business management risk
( R6 ) Major catastrophe risk (C) Solvency Margin Ratio (Non-consolidated) [ (A) / {(B) × 1/2} ] × 100
Note)

The above figures are calculated based on the provisions of Articles 86 and 87 of the Ordinance for Enforcement of the Insurance Business Act and Public Notice No. 50 of the Ministry of Finance (1996). The figures as of June 30, 2012 are partly calculated on the simplified method, for example, some bases for the major catastrophe risk calculation are deemed same as the figures as of March 31, 2012.

5

NKSJ Holdings, Inc.

NIPPONKOA Insurance Co.,Ltd. (Non-consolidated)
Quarterly Balance Sheets
As of March 31, 2012 As of June 30, 2012 (Millions of yen) Increase (Decrease)

Amount Assets: Cash and deposits Call loans Monetary receivables bought Money trusts Securities Loans Tangible fixed assets Intangible fixed assets Other assets Deferred tax assets Allowance for possible credit losses Allowance for possible investment losses Total assets Liabilities: Underwriting funds: Reserve for outstanding losses and claims Underwriting reserves Other liabilities Reserve for retirement benefits Reserve for bonus payments Reserve for bonus payments to directors Reserves under the special laws: Reserve for price fluctuation Total liabilities Net assets: Shareholders' equity: Common stock Capital surplus Retained earnings Total shareholders' equity Valuation and translation adjustments: Unrealized gains and losses on securities available for sale, net of tax Deferred gains and losses on hedges Total valuation and translation adjustments Total net assets Total liabilities and net assets 119,708 10,000 1,737 35,455 1,604,942 196,512 125,359 526 170,892 74,489 (1,987) (3) 2,337,631 1,844,117 301,967 1,542,150 120,925 25,472 6,228 18 11,289 11,289 2,008,051

Amount 98,650 20,000 1,738 32,142 1,543,478 201,094 125,318 515 144,080 87,102 (1,822) - 2,252,297 1,813,781 295,342 1,518,439 91,165 25,782 1,519 - 11,958 11,958 1,944,208 (21,058) 10,000 0 (3,312) (61,463) 4,582 (40) (11) (26,812) 12,613 165 3 (85,334) (30,335) (6,624) (23,711) (29,759) 310 (4,708) (18) 668 668 (63,842)

91,249 21,702 57,952 170,903 153,016 5,660 158,677 329,580 2,337,631

91,249 21,702 68,108 181,060 120,366 6,662 127,029 308,089 2,252,297

- - 10,156 10,156 (32,649) 1,001 (31,647) (21,491) (85,334)

6

NKSJ Holdings, Inc.

NIPPONKOA Insurance Co.,Ltd. (Non-consolidated)
Quarterly Statements of Income
Three months ended June 30, 2011 (April 1 to June 30, 2011) Amount 241,006 228,269 160,865 10,698 4,881 - 51,824 12,351 14,829 121 1,734 (4,881) 384 232,281 197,489 111,309 9,540 27,922 20,760 27,604 5,133 185 1,671 2,024 29,519 139 8 8,724 2,343 3 1,373 1,373 967 174 13 161 - - 10,893 4,082 6,810 Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount 225,144 206,454 161,678 9,823 4,606 6,624 23,711 18,340 12,993 - 5,019 (4,606) 349 208,968 174,533 112,503 10,149 28,857 21,822 - 4,730 258 8 3,257 29,599 105 16 16,176 21 21 - - - 786 19 97 668 668 15,411 5,255 10,156 Increase (Decrease) (Millions of yen) Rate of change

Ordinary income: Underwriting income: Net premiums written Deposits of premiums by policyholders Interest and dividend income on deposits of premiums, etc. Reversal of reserve for outstanding losses and claims Reversal of underwriting reserves Investment income: Interest and dividend income Investment gains on money trusts Gains on sales of securities Transfer of interest and dividend income on deposits of premiums, etc. Other ordinary income Ordinary expenses: Underwriting expenses: Net claims paid Loss adjustment expenses Net commissions and brokerage fees Maturity refunds to policyholders Provision for reserve for outstanding losses and claims Investment expenses: Investment losses on money trusts Losses on sales of securities Impairment losses on securities Operating, general and administrative expenses Other ordinary expenses: Interest paid Ordinary profit Extraordinary gains: Gains on disposal of fixed assets Reversal of reserves under the special laws: Reversal of reserve for price fluctuation Other extraordinary gains Extraordinary losses: Losses on disposal of fixed assets Impairment losses Provision for reserves under the special laws: Provision for reserve for price fluctuation Income before income taxes Income taxes and deferred income taxes Net income Underwriting result: Net premiums written Net claims paid Loss adjustment expenses Operating expenses: Net commissions and brokerage fees Operating, general and administrative expenses related to underwriting Underwriting result Underwriting profit Ratios: Net loss ratio Net expense ratio Underwriting result ratio

(15,861) (21,815) 813 (875) (274) 6,624 (28,113) 5,988 (1,835) (121) 3,285 274 (35) (23,313) (22,955) 1,194 609 934 1,062 (27,604) (403) 72 (1,662) 1,233 80 (33) 7 7,452 (2,321) 18 (1,373) (1,373) (967) 611 6 (63) 668 668 4,518 1,172 3,345

(6.6) % (9.6) 0.5 (8.2) (5.6) - (54.2) 48.5 (12.4) (100.0) 189.5 - (9.1) (10.0) (11.6) 1.1 6.4 3.3 5.1 (100.0) (7.9) 39.3 (99.5) 60.9 0.3 (24.4) 82.5 85.4 (99.1) 607.1 (100.0) (100.0) (100.0) 350.7 51.0 (39.7) - - 41.5 28.7 49.1

(+) (-) (-) (-)

160,865 111,309 9,540 55,881 27,922 27,959 (15,866) 2,166

161,678 112,503 10,149 57,297 28,857 28,439 (18,272) 2,766 75.9 35.4 (11.3)

813 1,194 609 1,415 934 480 (2,405) 600 0.8 0.7 (1.4)

0.5 1.1 6.4 2.5 3.3 1.7 - 27.7

(%) (%) (%)

75.1 34.7 (9.9)

7

NKSJ Holdings, Inc.

NIPPONKOA Insurance Co.,Ltd. (Non-consolidated)
Premiums Written and Claims Paid by Business Lines
Direct premiums written (excluding deposits of premiums by policyholders)
Three months ended June 30, 2011 (April 1 to June 30, 2011) Business line Fire and allied insurance Marine insurance Personal accident insurance Voluntary automobile insurance Compulsory automobile liability insurance Others Total Deposits of premiums by policyholders Amount 30,305 3,690 14,225 81,191 21,334 25,258 176,006 10,698 % of total amount 17.2 % 2.1 8.1 46.1 12.1 14.4 100.0 ―― Rate of change 4.7 % (1.1) (0.7) (0.0) 4.9 (0.9) 1.1 12.4 (Millions of yen) Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount 30,974 3,680 14,408 82,731 23,178 25,791 180,764 9,823 % of total amount 17.1 % 2.0 8.0 45.8 12.8 14.3 100.0 ―― Rate of change 2.2 % (0.3) 1.3 1.9 8.6 2.1 2.7 (8.2)

Net premiums written
Three months ended June 30, 2011 (April 1 to June 30, 2011) Business line Fire and allied insurance Marine insurance Personal accident insurance Voluntary automobile insurance Compulsory automobile liability insurance Others Total Amount 21,430 3,084 14,454 81,495 16,654 23,745 160,865 % of total amount 13.3 % 1.9 9.0 50.6 10.4 14.8 100.0 Rate of change 6.6 % (7.4) (0.5) 0.5 (5.1) 0.2 0.4 (Millions of yen) Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount 18,375 3,118 14,690 82,548 19,565 23,379 161,678 % of total amount 11.4 % 1.9 9.1 51.0 12.1 14.5 100.0 Rate of change (14.3) % 1.1 1.6 1.3 17.5 (1.5) 0.5

Net claims paid
Three months ended June 30, 2011 (April 1 to June 30, 2011) Business line Fire and allied insurance Marine insurance Personal accident insurance Voluntary automobile insurance Compulsory automobile liability insurance Others Total Amount 27,982 1,503 7,012 47,454 17,654 9,702 111,309 Rate of change 206.3 % (5.3) (6.0) (5.4) (0.9) (2.5) 15.8 Net loss ratio 134.2 % 50.3 53.2 65.5 113.0 44.8 75.1 (Millions of yen) Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount 24,731 1,516 6,628 50,956 18,096 10,575 112,503 Rate of change (11.6) % 0.9 (5.5) 7.4 2.5 9.0 1.1 Net loss ratio 138.9 % 50.2 49.7 69.1 100.9 49.0 75.9

8

NKSJ Holdings, Inc.

NIPPONKOA Insurance Co.,Ltd. (Non-consolidated)
Solvency Margin Ratio (Non-consolidated)
As of March 31, 2012 (A) Total Solvency Margin (Non-consolidated) Capital and funds, etc. Reserve for price fluctuation Contingency reserve Catastrophic loss reserve General allowance for possible credit losses Unrealized gains and losses on securities (before tax effect deductions) Net unrealized gains and losses on land Excess amount of reserve for maturity refunds Subordinated debt, etc. Excess amount of reserve for maturity refunds and subordinated debt, etc. which are excluded from total solvency margin Deductions Others (B) Total Risks (Non-consolidated) 598,090 170,903 11,289 10 208,934 51 194,583 12,637 - - - 11,769 11,450 254,066 56,018 1 9,872 126,578 5,863 100,700 470.8 % (Millions of yen) As of June 30, 2012 558,727 181,060 11,958 10 195,301 47 153,455 12,760 - - - 11,769 15,902 240,468 56,094 1 9,738 119,507 5,586 93,988 464.6 %

(R1 + R2 )2 + (R3 + R4 )2

+ R5 + R6

Underwriting risk ( R1 ) Underwriting risk for third-sector insurance products including accident, sickness and nursing-care insurance ( R2 ) Guaranteed interest rate risk ( R3 ) ( R4 ) Investment risk ( R5 ) Business management risk
( R6 ) Major catastrophe risk (C) Solvency Margin Ratio (Non-consolidated) [ (A) / {(B) × 1/2} ] × 100
Note)

The above figures are calculated based on the provisions of Articles 86 and 87 of the Ordinance for Enforcement of the Insurance Business Act and Public Notice No. 50 of the Ministry of Finance (1996). The figures as of June 30, 2012 are partly calculated on the simplified method, for example, some bases for the major catastrophe risk calculation are deemed same as the figures as of March 31, 2012.

9

NKSJ Holdings, Inc.

Sonpo 24 Insurance Company Limited (Non-consolidated)
Quarterly Balance Sheets
As of March 31, 2012 As of June 30, 2012 (Millions of yen) Increase (Decrease)

Amount Assets: Cash and deposits Securities Tangible fixed assets Other assets Total assets Liabilities: Underwriting funds: Reserve for outstanding losses and claims Underwriting reserves Other liabilities Reserve for retirement benefits Reserve for bonus payments Reserves under the special laws: Reserve for price fluctuation Deferred tax liabilities Total liabilities Net assets: Shareholders' equity: Common stock Capital surplus Retained earnings Total shareholders' equity Valuation and translation adjustments: Unrealized gains and losses on securities available for sale, net of tax Total valuation and translation adjustments Total net assets Total liabilities and net assets 1,752 16,966 133 890 19,743 11,063 3,751 7,312 1,829 131 91 26 26 23 13,166

Amount 1,523 17,116 123 768 19,532 11,101 3,821 7,279 1,428 139 22 27 27 74 12,793 (228) 149 (9) (121) (210) 37 70 (32) (401) 7 (68) 0 0 51 (372)

19,000 19,000 (31,475) 6,524 52 52 6,577 19,743

19,000 19,000 (31,428) 6,571 167 167 6,739 19,532

- - 46 46 115 115 162 (210)

10

NKSJ Holdings, Inc.

Sonpo 24 Insurance Company Limited (Non-consolidated)
Quarterly Statements of Income
Three months ended June 30, 2011 (April 1 to June 30, 2011) Amount 2,842 2,823 2,821 2 - 18 20 (2) 0 2,991 2,276 1,521 216 188 236 113 715 0 (149) 1 0 0 0 (151) 0 (152) Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount 3,242 3,216 3,182 1 32 26 28 (1) 0 3,193 2,447 1,931 228 217 70 - 745 0 48 0 0 0 0 47 0 46 Increase (Decrease) (Millions of yen) Rate of change

Ordinary income: Underwriting income: Net premiums written Interest and dividend income on deposits of premiums, etc. Reversal of underwriting reserves Investment income: Interest and dividend income Transfer of interest and dividend income on deposits of premiums, etc. Other ordinary income Ordinary expenses: Underwriting expenses: Net claims paid Loss adjustment expenses Net commissions and brokerage fees Provision for reserve for outstanding losses and claims Provision for underwriting reserves Operating, general and administrative expenses Other ordinary expenses Ordinary profit (loss) Extraordinary losses: Losses on disposal of fixed assets Provision for reserves under the special laws: Provision for reserve for price fluctuation Income (loss) before income taxes Income taxes and deferred income taxes Net income (loss) Underwriting result: Net premiums written Net claims paid Loss adjustment expenses Operating expenses: Net commissions and brokerage fees Operating, general and administrative expenses related to underwriting Underwriting result Underwriting profit (loss) Ratios: Net loss ratio Net expense ratio Underwriting result ratio

400 392 360 (0) 32 7 7 0 (0) 201 170 409 12 28 (166) (113) 30 0 198 (0) (0) 0 0 199 - 199

14.1 % 13.9 12.8 (8.4) - 42.6 37.2 - (4.3) 6.8 7.5 26.9 5.7 15.4 (70.3) (100.0) 4.3 15,162.8 - (39.1) (94.3) 2.3 2.3 - - -

(+) (-) (-) (-)

2,821 1,521 216 902 188 713 180 (167)

3,182 1,931 228 962 217 745 59 23 67.9 30.2 1.9

360 409 12 60 28 31 (121) 190 6.3 (1.8) (4.5)

12.8 26.9 5.7 6.7 15.4 4.4 (67.0) -

(%) (%) (%)

61.6 32.0 6.4

11

NKSJ Holdings, Inc.

Sonpo 24 Insurance Company Limited (Non-consolidated)
Premiums Written and Claims Paid by Business Lines
Direct premiums written (excluding deposits of premiums by policyholders)
Three months ended June 30, 2011 (April 1 to June 30, 2011) Business line Fire and allied insurance Marine insurance Personal accident insurance Voluntary automobile insurance Compulsory automobile liability insurance Others Total Deposits of premiums by policyholders Amount - - - 2,838 - - 2,838 - % of total amount - % - - 100.0 - - 100.0 ―― Rate of change - % - - 11.4 - - 11.4 - (Millions of yen) Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount - - - 3,190 - - 3,190 - % of total amount - % - - 100.0 - - 100.0 ―― Rate of change - % - - 12.4 - - 12.4 -

Net premiums written
Three months ended June 30, 2011 (April 1 to June 30, 2011) Business line Fire and allied insurance Marine insurance Personal accident insurance Voluntary automobile insurance Compulsory automobile liability insurance Others Total Amount - - - 2,787 33 - 2,821 % of total amount - % - - 98.8 1.2 - 100.0 Rate of change - % - - 11.3 (13.7) - 11.0 (Millions of yen) Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount - - - 3,135 46 - 3,182 % of total amount - % - - 98.5 1.5 - 100.0 Rate of change - % - - 12.5 37.1 - 12.8

Net claims paid
Three months ended June 30, 2011 (April 1 to June 30, 2011) Business line Fire and allied insurance Marine insurance Personal accident insurance Voluntary automobile insurance Compulsory automobile liability insurance Others Total Amount - - - 1,467 54 - 1,521 Rate of change - % - - 4.8 10.6 - 5.0 Net loss ratio - % - - 60.4 161.1 - 61.6 (Millions of yen) Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount - - - 1,873 58 - 1,931 Rate of change - % - - 27.6 7.6 - 26.9 Net loss ratio - % - - 67.0 126.4 - 67.9

12

NKSJ Holdings, Inc.

Sonpo 24 Insurance Company Limited (Non-consolidated)
Solvency Margin Ratio (Non-consolidated)
As of March 31, 2012 (A) Total Solvency Margin (Non-consolidated) Capital and funds, etc. Reserve for price fluctuation Contingency reserve Catastrophic loss reserve General allowance for possible credit losses Unrealized gains and losses on securities (before tax effect deductions) Net unrealized gains and losses on land Excess amount of reserve for maturity refunds Subordinated debt, etc. Excess amount of reserve for maturity refunds and subordinated debt, etc. which are excluded from total solvency margin Deductions Others (B) Total Risks (Non-consolidated) 6,996 6,524 26 - 376 - 68 - - - - - - 1,700 1,491 - - 358 58 107 822.9 % (Millions of yen) As of June 30, 2012 6,998 6,571 27 - 180 - 218 - - - - - - 1,710 1,491 - - 358 59 116 818.3 %

(R1 + R2 )2 + (R3 + R4 )2

+ R5 + R6

Underwriting risk ( R1 ) Underwriting risk for third-sector insurance products including accident, sickness and nursing-care insurance ( R2 ) Guaranteed interest rate risk ( R3 ) ( R4 ) Investment risk ( R5 ) Business management risk
( R6 ) Major catastrophe risk (C) Solvency Margin Ratio (Non-consolidated) [ (A) / {(B) × 1/2} ] × 100
Note)

The above figures are calculated based on the provisions of Articles 86 and 87 of the Ordinance for Enforcement of the Insurance Business Act and Public Notice No. 50 of the Ministry of Finance (1996). The figures as of June 30, 2012 are partly calculated on the simplified method, for example, some bases for the investment risk calculation are deemed same as the figures as of March 31, 2012.

13

NKSJ Holdings, Inc.

Saison Automobile and Fire Insurance Company, Limited (Non-consolidated)
Quarterly Balance Sheets
As of March 31, 2012 As of June 30, 2012 (Millions of yen) Increase (Decrease)

Amount Assets: Cash and deposits Money trusts Securities Loans Tangible fixed assets Intangible fixed assets Other assets Allowance for possible credit losses Total assets Liabilities: Underwriting funds: Reserve for outstanding losses and claims Underwriting reserves Other liabilities Reserve for retirement benefits Reserve for retirement benefits to directors Reserve for bonus payments Reserves under the special laws: Reserve for price fluctuation Deferred tax liabilities Total liabilities Net assets: Shareholders' equity: Common stock Capital surplus Retained earnings Total shareholders' equity Valuation and translation adjustments: Unrealized gains and losses on securities available for sale, net of tax Total valuation and translation adjustments Total net assets Total liabilities and net assets 2,548 1,324 19,469 15 322 2,411 2,507 (0) 28,598 21,813 4,972 16,840 2,002 176 51 225 5 5 95 24,370

Amount 1,939 1,310 19,093 15 339 2,548 2,627 (0) 27,874 23,221 5,071 18,149 1,685 166 42 119 1 1 107 25,343 (608) (13) (376) (0) 17 137 119 - (724) 1,408 99 1,308 (317) (9) (9) (106) (4) (4) 12 973

8,610 6,848 (11,529) 3,928

8,610 6,848 (13,220) 2,237

- - (1,691) (1,691)

299 299 4,228 28,598

293 293 2,530 27,874

(6) (6) (1,697) (724)

14

NKSJ Holdings, Inc.

Saison Automobile and Fire Insurance Company, Limited (Non-consolidated)
Quarterly Statements of Income
Three months ended June 30, 2011 (April 1 to June 30, 2011) Amount 3,921 3,795 3,643 139 12 48 60 - 0 (12) 77 5,053 3,179 1,985 278 404 178 49 280 33 2 - 1,829 10 3 (1,132) 6 6 6 0 0 (1,126) 5 (1,131) Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount 4,712 4,577 4,456 109 11 38 50 0 - (11) 96 6,402 4,296 2,019 297 409 159 99 1,308 67 13 52 2,034 3 3 (1,689) 4 4 4 0 0 (1,686) 5 (1,691) Increase (Decrease) (Millions of yen) Rate of change

Ordinary income: Underwriting income: Net premiums written Deposits of premiums by policyholders Interest and dividend income on deposits of premiums, etc. Investment income: Interest and dividend income Investment gains on trading securities Gains on sales of securities Transfer of interest and dividend income on deposits of premiums, etc. Other ordinary income Ordinary expenses: Underwriting expenses: Net claims paid Loss adjustment expenses Net commissions and brokerage fees Maturity refunds to policyholders Provision for reserve for outstanding losses and claims Provision for underwriting reserves Investment expenses: Investment losses on money trusts Impairment losses on securities Operating, general and administrative expenses Other ordinary expenses: Interest paid Ordinary loss Extraordinary gains: Reversal of reserves under the special laws: Reversal of reserve for price fluctuation Extraordinary losses: Losses on disposal of fixed assets Loss before income taxes Income taxes and deferred income taxes Net loss Underwriting result: Net premiums written Net claims paid Loss adjustment expenses Operating expenses: Net commissions and brokerage fees Operating, general and administrative expenses related to underwriting Underwriting result Underwriting profit (loss) Ratios: Net loss ratio Net expense ratio Underwriting result ratio

791 781 813 (29) (1) (9) (10) 0 (0) 1 18 1,349 1,117 34 19 4 (18) 49 1,027 33 11 52 205 (6) (0) (557) (1) (1) (1) 0 0 (559) (0) (559)

20.2 % 20.6 22.3 (21.5) (10.6) (19.3) (17.1) - (100.0) - 24.2 26.7 35.1 1.7 7.1 1.1 (10.5) 99.5 366.1 98.1 490.7 - 11.2 (62.9) (16.7) - (26.1) (26.1) (26.1) 48.8 48.8 - (5.2) -

(+) (-) (-) (-)

3,643 1,985 278 2,148 404 1,743 (768) (1,077)

4,456 2,019 297 2,324 409 1,915 (185) (1,574) 52.0 52.2 (4.2)

813 34 19 176 4 171 582 (497) (10.1) (6.8) 16.9

22.3 1.7 7.1 8.2 1.1 9.9 - -

(%) (%) (%)

62.1 59.0 (21.1)

15

NKSJ Holdings, Inc.

Saison Automobile and Fire Insurance Company, Limited (Non-consolidated)
Premiums Written and Claims Paid by Business Lines
Direct premiums written (excluding deposits of premiums by policyholders)
Three months ended June 30, 2011 (April 1 to June 30, 2011) Business line Fire and allied insurance Marine insurance Personal accident insurance Voluntary automobile insurance Compulsory automobile liability insurance Others Total Deposits of premiums by policyholders Amount 844 0 1,168 2,070 47 213 4,344 139 % of total amount 19.4 % 0.0 26.9 47.7 1.1 4.9 100.0 ── Rate of change (3.1) % 143.2 12.9 (7.4) (48.1) (4.3) (2.5) (14.9) (Millions of yen) Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount 892 - 1,151 2,822 42 231 5,141 109 % of total amount 17.4 % - 22.4 54.9 0.8 4.5 100.0 ── Rate of change 5.7 % (100.0) (1.4) 36.3 (10.3) 8.4 18.3 (21.5)

Net premiums written
Three months ended June 30, 2011 (April 1 to June 30, 2011) Business line Fire and allied insurance Marine insurance Personal accident insurance Voluntary automobile insurance Compulsory automobile liability insurance Others Total Amount 581 7 708 2,048 97 200 3,643 % of total amount 16.0 % 0.2 19.4 56.2 2.7 5.5 100.0 Rate of change (8.8) % 10.4 8.6 (7.5) (4.7) (1.9) (4.5) (Millions of yen) Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount 599 6 721 2,792 106 229 4,456 % of total amount 13.4 % 0.2 16.2 62.7 2.4 5.1 100.0 Rate of change 3.1 % (8.0) 1.9 36.3 9.3 14.5 22.3

Net claims paid
Three months ended June 30, 2011 (April 1 to June 30, 2011) Business line Fire and allied insurance Marine insurance Personal accident insurance Voluntary automobile insurance Compulsory automobile liability insurance Others Total Amount 113 7 468 1,199 108 87 1,985 Rate of change 91.3 % 21.7 21.2 (7.7) 7.4 214.8 5.6 Net loss ratio 21.5 % 101.9 75.7 67.4 118.3 49.2 62.1 (Millions of yen) Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount 134 6 442 1,298 123 14 2,019 Rate of change 18.1 % (14.6) (5.4) 8.2 14.0 (83.6) 1.7 Net loss ratio 24.6 % 94.7 71.1 53.3 125.4 12.4 52.0

16

NKSJ Holdings, Inc.

Saison Automobile and Fire Insurance Company, Limited (Non-consolidated)
Solvency Margin Ratio (Non-consolidated)
As of March 31, 2012 (A) Total Solvency Margin (Non-consolidated) Capital and funds, etc. Reserve for price fluctuation Contingency reserve Catastrophic loss reserve General allowance for possible credit losses Unrealized gains and losses on securities (before tax effect deductions) Net unrealized gains and losses on land Excess amount of reserve for maturity refunds Subordinated debt, etc. Excess amount of reserve for maturity refunds and subordinated debt, etc. which are excluded from total solvency margin Deductions Others (B) Total Risks (Non-consolidated) 7,177 3,928 5 10 2,873 - 355 - - - - - 3 2,012 1,287 - 27 590 72 512 713.2 % (Millions of yen) As of June 30, 2012 5,722 2,237 1 10 3,109 - 360 - - - - - 3 2,027 1,289 - 27 563 72 537 564.4 %

(R1 + R2 )2 + (R3 + R4 )2
Underwriting risk
( R1 )

+ R5 + R6

Underwriting risk for third-sector insurance products including accident, sickness and nursing-care insurance ( R2 ) Guaranteed interest rate risk ( R3 ) ( R4 ) Investment risk ( R5 ) Business management risk
( R6 ) Major catastrophe risk (C) Solvency Margin Ratio (Non-consolidated) [ (A) / {(B) × 1/2} ] × 100
Note)

The above figures are calculated based on the provisions of Articles 86 and 87 of the Ordinance for Enforcement of the Insurance Business Act and Public Notice No. 50 of the Ministry of Finance (1996). The figures as of June 30, 2012 are partly calculated on the simplified method, for example, some bases for the major catastrophe risk calculation are deemed same as the figures as of March 31, 2012.

17

NKSJ Holdings, Inc.

NKSJ Himawari Life Insurance, Inc. (Non-consolidated)
Quarterly Balance Sheets
(Millions of yen) As of March 31, 2012 As of June 30, 2012 Increase (Decrease)

Amount Assets: Cash and deposits Securities: Government bonds Municipal bonds Corporate bonds Domestic stocks Foreign securities Loans: Policy loans Tangible fixed assets Intangible fixed assets Agency accounts receivable Reinsurance accounts receivable Other assets Deferred tax assets Allowance for possible credit losses Total assets Liabilities: Policy reserves: Reserve for outstanding claims Policy reserves Reserve for dividends to policyholders Agency accounts payable Reinsurance accounts payable Other liabilities Reserve for retirement benefits Reserve for bonus payments to directors Reserves under the special laws: Reserve for price fluctuation Total liabilities Net assets: Shareholders' equity: Common stock Capital surplus Retained earnings Total shareholders' equity Valuation and translation adjustments: Unrealized gains and losses on securities available for sale, net of tax Total valuation and translation adjustments Total net assets Total liabilities and net assets 42,764 1,672,594 1,126,262 120,094 382,065 9,869 34,301 34,091 34,091 1,676 3,101 137 1,467 34,092 19,343 (58) 1,809,210 1,717,788 24,615 1,689,139 4,034 3,466 1,248 7,294 1,718 24 1,881 1,881 1,733,423

Amount 38,899 1,709,081 1,160,645 120,171 384,895 8,968 34,401 34,108 34,108 1,603 2,848 104 1,220 33,569 17,434 (63) 1,838,805 1,745,491 26,584 1,715,254 3,651 2,578 1,217 5,852 1,826 - 1,954 1,954 1,758,920 (3,865) 36,487 34,382 76 2,829 (901) 100 17 17 (73) (253) (33) (247) (523) (1,908) (4) 29,595 27,702 1,969 26,115 (382) (887) (30) (1,442) 107 (24) 72 72 25,497

17,250 30,000 15,958 63,208

17,250 30,000 16,707 63,957

- - 748 748

12,578 12,578 75,786 1,809,210

15,927 15,927 79,884 1,838,805

3,349 3,349 4,098 29,595

18

NKSJ Holdings, Inc.

NKSJ Himawari Life Insurance, Inc. (Non-consolidated)
Quarterly Statements of Income
(Millions of yen) Three months ended June 30, 2011 (April 1 to June 30, 2011) Ordinary income: Insurance premiums and other: Insurance premiums Investment income: Interest and dividend income Investment gains on money trusts Gains on sales of securities Other ordinary income: Reversal of reserve for outstanding claims Ordinary expenses: Insurance claims and other: Insurance claims Annuity payments Insurance benefits Surrender benefits Other refunds Provision for policy reserves and other: Provision for reserve for outstanding claims Provision for policy reserves Provision for interest portion of reserve for dividends to policyholders Investment expenses: Interest paid Losses on sales of securities Losses on derivatives Investment losses on special account Operating, general and administrative expenses Other ordinary expenses Ordinary profit (loss) Extraordinary losses: Losses on disposal of fixed assets Provision for reserves under the special laws: Provision for reserve for price fluctuation Other extraordinary losses Provision for reserve for dividends to policyholders Income (loss) before income taxes Income taxes and deferred income taxes Net income (loss)
Note)

Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount 93,927 85,482 84,288 8,224 7,925 - 289 221 - 91,660 42,130 8,162 489 6,928 24,859 346 28,085 1,969 26,115 0 920 24 - 9 875 19,519 1,004 2,266 78 6 72 72 - 909 1,278 529 748

Increase (Decrease)

Rate of change

Amount 93,564 84,673 83,873 7,614 7,363 105 145 1,275 1,008 93,824 42,395 8,244 445 6,491 25,570 358 29,539 - 29,538 0 238 26 88 3 98 20,493 1,157 (260) 853 3 56 56 793 793 (1,907) (565) (1,342)

363 809 415 609 562 (105) 144 (1,054) (1,008) (2,163) (264) (81) 43 437 (710) (12) (1,453) 1,969 (3,423) 0 682 (2) (88) 5 777 (973) (153) 2,527 (774) 3 15 15 (793) 116 3,185 1,094 2,091

0.4 % 1.0 0.5 8.0 7.6 (100.0) 98.8 (82.7) (100.0) (2.3) (0.6) (1.0) 9.8 6.7 (2.8) (3.4) (4.9) - (11.6) 17.7 286.4 (9.5) (100.0) 166.1 791.2 (4.8) (13.2) - (90.7) 108.1 27.2 27.2 (100.0) 14.6 - - -

Amount for the three months ended June 31, 2011 represents the combined result of Sompo Japan Himawari Life Insurance Co., Ltd. and NIPPONKOA Life Insurance Company, Limited.

19

NKSJ Holdings, Inc.

NKSJ Himawari Life Insurance, Inc. (Non-consolidated)
Major Business Results
Total amount of policies in force
As of March 31, 2012 Number
% of previous fiscal year

Amount
% of previous fiscal year

(Number in thousands, Yen in hundred millions, %) As of June 30, 2012 Number Amount
% of previous fiscal year % of previous fiscal year

Individual insurance Individual annuities Group insurance Group annuities

2,820 70 ―― ――

110.6 101.2 ―― ――

173,753 2,843 31,015 -

109.1 101.9 102.8 -

2,869 70 ―― ――

101.7 99.8 ―― ――

176,443 2,842 30,577 -

101.5 100.0 98.6 -

Note) Amount of "Individual annuities" represents the sum of annuity fund at the beginning of annuity payment of contracts before the beginning of annuity payment and policy reserves for the contracts after the beginning of annuity payment.

Total amount of new policies
Three months ended June 30, 2011 (April 1 to June 30, 2011) Number Amount
% of previous fiscal year % of previous fiscal year

(Number in thousands, Yen in hundred millions, %) Three months ended June 30, 2012 (April 1 to June 30, 2012) Number Amount
% of previous fiscal year % of previous fiscal year

Individual insurance Individual annuities Group insurance Group annuities
Notes)

110 1 ―― ――

114.1 137.9 ―― ――

6,969 43 88 -

102.7 139.3 77.9 -

93 0 ―― ――

85.3 47.5 ―― ――

6,521 21 192 -

93.6 48.9 217.1 -

1. Amount of "Individual annuities" represents the amount of annuity fund at the beginning of annuity payment. 2. Amount for the three months ended June 31, 2011 represents the combined result of Sompo Japan Himawari Life Insurance Co., Ltd. and NIPPONKOA Life Insurance Company, Limited.

Annualized premiums Policies in force
As of March 31, 2012 % of previous fiscal year 270,285 103.9 15,967 102.2 286,252 103.8 102,137 108.8 (Millions of yen, %) As of June 30, 2012 % of previous fiscal year 100.6 271,835 15,949 99.9 287,785 100.5 103,503 101.3

Individual insurance Individual annuities Total Medical and survival benefits

New policies
Three months ended June 30, 2011 (April 1 to June 30, 2011) % of previous fiscal year 8,284 109.1 251 159.4 8,536 110.2 3,582 113.0 (Millions of yen, %) Three months ended June 30, 2012 (April 1 to June 30, 2012) % of previous fiscal year 7,878 95.1 90 36.1 7,969 93.4 3,301 92.1

Individual insurance Individual annuities Total Medical and survival benefits

Notes) 1. Annualized premiums are calculated by using multipliers for various premium payment terms to the premium per payment. In single premium contracts, the amount is calculated by dividing the premium by the duration of the policy. 2. Annualized premiums for medical and survival benefits include (a) premium related to medical benefits such as hospitalization and surgery benefits, (b) premium related to survival benefits such as specific illness and nursing benefits, and (c) premium related to premium waiver benefits, in which disability cause is excluded but causes such as specific illness and nursing care are included. 3. Amount for the three months ended June 31, 2011 represents the combined result of Sompo Japan Himawari Life Insurance Co., Ltd. and NIPPONKOA Life Insurance Company, Limited.

20

NKSJ Holdings, Inc.

NKSJ Himawari Life Insurance, Inc. (Non-consolidated)
Solvency Margin Ratio (Non-consolidated)
As of March 31, 2012 (A) Total Solvency Margin (Non-consolidated) Capital, etc. Reserve for price fluctuation Contingency reserve General allowance for possible credit losses Unrealized gains and losses on securities (90% of gain or 100% of loss) Net unrealized gains and losses on land (85% of gain or 100% of loss) Excess of continued Zillmerized reserve Subordinated debt, etc. Excess of continued Zillmerized reserve and subordinated debt, etc. which are excluded from total solvency margin Brought in capital, etc. Deductions Others (B) Total Risks (Non-consolidated) 199,339 63,208 1,881 22,677 19 16,358 - 112,359 - (24,430) - - 7,264 27,502 11,109 5,625 8,084 337 12,447 752 1,449.5 % (Millions of yen) As of June 30, 2012 206,539 64,094 1,954 22,963 18 20,714 - 114,942 - (25,757) - - 7,609 28,003 11,241 5,711 8,104 341 12,873 765 1,475.1 %

(R1 + R8 )2 + (R2 + R3 + R7 )2

+ R4

Underwriting risk ( R1 ) Underwriting risk for third-sector insurance products including ( R8 ) accident, sickness and nursing-care insurance ( R2 ) Guaranteed interest rate risk ( R7 ) Guaranteed minimum benefit risk Investment Risk ( R3 ) Business management risk ( R4 ) (C) Solvency Margin Ratio (Non-consolidated)
Notes)

( A) × 100 (1 2) × (B )

1. The above figures are calculated based on the provisions of Articles 86 and 87 of the Ordinance for Enforcement of the Insurance Business Act and Public Notice No. 50 of the Ministry of Finance (1996). 2. Guaranteed minimum benefit risk is calculated by the standard method.

21

NKSJ Holdings, Inc.

Sompo Japan DIY Life Insurance Co., Ltd. (Non-consolidated)
Quarterly Balance Sheets
(Millions of yen) As of March 31, 2012 As of June 30, 2012 Increase (Decrease)

Amount Assets: Cash and deposits Securities: Government bonds Domestic stocks Tangible fixed assets Agency accounts receivable Reinsurance accounts receivable Other assets Allowance for possible credit losses Total assets Liabilities: Policy reserves: Reserve for outstanding claims Policy reserves Agency accounts payable Reinsurance accounts payable Other liabilities Reserve for retirement benefits Reserves under the special laws: Reserve for price fluctuation Deferred tax liabilities Total liabilities Net assets: Shareholders' equity: Common stock Capital surplus Retained earnings Total shareholders' equity Valuation and translation adjustments: Unrealized gains and losses on securities available for sale, net of tax Total valuation and translation adjustments Total net assets Total liabilities and net assets 401 4,148 1,272 652 39 0 26 247 - 4,863 1,128 270 857 4 30 173 29 18 18 99 1,482

Amount 409 4,042 1,270 549 35 0 17 292 (3) 4,795 990 137 852 3 31 113 30 18 18 79 1,267 8 (105) (1) (103) (3) 0 (8) 44 (3) (68) (137) (132) (4) (0) 1 (60) 1 0 0 (20) (215)

10,100 2,100 (9,043) 3,156

10,100 2,100 (8,850) 3,349

- - 192 192

224 224 3,380 4,863

178 178 3,527 4,795

(45) (45) 146 (68)

22

NKSJ Holdings, Inc.

Sompo Japan DIY Life Insurance Co., Ltd. (Non-consolidated)
Quarterly Statements of Income
(Millions of yen) Three months ended June 30, 2011 (April 1 to June 30, 2011) Amount Ordinary income: Insurance premiums and other: Insurance premiums Investment income: Interest and dividend income Other ordinary income: Reversal of reserve for outstanding claims Reversal of policy reserves Ordinary expenses: Insurance claims and other: Insurance claims Insurance benefits Other refunds Investment expenses: Interest paid Impairment losses on securities Operating, general and administrative expenses Other ordinary expenses Ordinary profit (loss) Extraordinary losses: Losses on disposal of fixed assets Provision for reserves under the special laws: Provision for reserve for price fluctuation Income (loss) before income taxes Income taxes and deferred income taxes Net income (loss) 1,073 1,003 929 13 13 56 55 0 1,086 527 422 63 1 0 0 - 544 14 (12) 1,196 1,195 0 0 (1,208) 0 (1,209) Three months ended June 30, 2012 (April 1 to June 30, 2012) Amount 1,107 959 936 10 10 137 132 4 896 377 295 41 1 39 0 36 469 9 210 0 - 0 0 210 17 192 33 (43) 6 (3) (3) 80 76 4 (189) (149) (127) (21) 0 39 (0) 36 (74) (4) 223 (1,195) (1,195) (0) (0) 1,419 16 1,402 3.2 % (4.3) 0.7 (25.0) (25.0) 142.8 137.7 495.9 (17.4) (28.4) (30.1) (34.4) 2.8 51,754.5 (60.7) - (13.7) (30.8) - (100.0) (100.0) (1.4) (1.4) - 1,753.4 - Increase (Decrease) Rate of change

23

NKSJ Holdings, Inc.

Sompo Japan DIY Life Insurance Co., Ltd. (Non-consolidated)
Major Business Results
Total amount of policies in force
As of March 31, 2012 Number Amount
% of previous fiscal year % of previous fiscal year

(Number in thousands, Yen in hundred millions, %) As of June 30, 2012 Number Amount
% of previous fiscal year % of previous fiscal year

Individual insurance Individual annuities Group insurance Group annuities

45 - ―― ――

97.4 - ―― ――

7,511 - - -

95.8 - - -

44 - ―― ――

99.6 - ―― ――

7,434 - - -

99.0 - - -

Total amount of new policies
Three months ended June 30, 2011 (April 1 to June 30, 2011) Number Amount
% of previous fiscal year % of previous fiscal year

(Number in thousands, Yen in hundred millions, %) Three months ended June 30, 2012 (April 1 to June 30, 2012) Number Amount
% of previous fiscal year % of previous fiscal year

Individual insurance Individual annuities Group insurance Group annuities

0 - ―― ――

65.6 - ―― ――

93 - - -

62.7 - - -

0 - ―― ――

117.2 - ―― ――

102 - - -

109.7 - - -

Annualized premiums Policies in force
As of March 31, 2012 % of previous fiscal year 3,718 100.3 - - 3,718 100.3 886 100.9 (Millions of yen, %) As of June 30, 2012 % of previous fiscal year 100.3 3,730 - - 3,730 100.3 893 100.7

Individual insurance Individual annuities Total Medical and survival benefits

New policies
Three months ended June 30, 2011 (April 1 to June 30, 2011) % of previous fiscal year 41 62.8 - - 41 62.8 12 64.5 (Millions of yen, %) Three months ended June 30, 2012 (April 1 to June 30, 2012) % of previous fiscal year 115.4 47 - - 47 115.4 14 117.5

Individual insurance Individual annuities Total Medical and survival benefits

Notes) 1. Annualized premiums are calculated by using multipliers for various premium payment terms to the premium per payment. In single premium contracts, the amount is calculated by dividing the premium by the duration of the policy. 2. Annualized premiums for medical and survival benefits include (a) premium related to medical benefits such as hospitalization and surgery benefits, (b) premium related to survival benefits such as specific illness and nursing benefits, and (c) premium related to premium waiver benefits, in which disability cause is excluded but causes such as specific illness and nursing care are included.

24

NKSJ Holdings, Inc.

Sompo Japan DIY Life Insurance Co., Ltd. (Non-consolidated)
Solvency Margin Ratio (Non-consolidated)
As of March 31, 2012 (A) Total Solvency Margin (Non-consolidated) Capital, etc. Reserve for price fluctuation Contingency reserve General allowance for possible credit losses Unrealized gains and losses on securities (90% of gain or 100% of loss) Net unrealized gains and losses on land (85% of gain or 100% of loss) Excess of continued Zillmerized reserve Subordinated debt, etc. Excess of continued Zillmerized reserve and subordinated debt, etc. which are excluded from total solvency margin Brought in capital, etc. Deductions Others (B) Total Risks (Non-consolidated) 3,987 3,156 18 521 - 292 - - - - - - - 569 425 93 0 - 175 20 1,400.8 % (Millions of yen) As of June 30, 2012 4,117 3,349 18 517 - 232 - - - - - - - 559 421 93 0 - 157 20 1,472.4 %

(R1 + R8 )2 + (R2 + R3 + R7 )2

+ R4

Underwriting risk ( R1 ) Underwriting risk for third-sector insurance products including ( R8 ) accident, sickness and nursing-care insurance ( R2 ) Guaranteed interest rate risk ( R7 ) Guaranteed minimum benefit risk Investment Risk ( R3 ) Business management risk ( R4 ) (C) Solvency Margin Ratio (Non-consolidated)
Note)

( A) × 100 (1 2) × (B )

The above figures are calculated based on the provisions of Articles 86 and 87 of the Ordinance for Enforcement of the Insurance Business Act and Public Notice No. 50 of the Ministry of Finance (1996).

25

NKSJ Holdings, Inc.

Supplementary Explanation
< Calculation of ratios, etc. >
Underwriting profit = Underwriting income - Underwriting expenses - Operating, general and administrative expenses related to underwriting + Other income and expenses* *Other income and expenses include, but not limited to, income tax expenses for compulsory automobile liability insurance. Net loss ratio = (Net claims paid + Loss adjustment expenses) / Net premiums written × 100 Net expense ratio = (Net commissions and brokerage fees + Operating, general and administrative expenses related to underwriting) / Net premiums written × 100 Underwriting result ratio = (Net premiums written - Net claims paid - Loss adjustment expenses - Operating expenses) / Net premiums written × 100

< Solvency margin ratio (Non-consolidated) >
• In addition to reserves to cover payments for claims, benefits and maturity refunds, etc., it is necessary for insurance companies to maintain sufficient solvency in order to cover against risks which may exceed their normal estimates, i.e. occurrence of major catastrophes, fluctuation in mortality rate due to significant changes in key environmental factors and big decline in value of assets held by insurance companies. •(C) Solvency Margin Ratio (Non-consolidated), which is calculated in accordance with the Insurance Business Act, is the ratio of "solvency margin of insurance companies by means of their capital, reserves, etc." ((A) Total Solvency Margin (Non-consolidated)) to "risks which will exceed their normal estimates" ((B) Total Risks (Non-consolidated)). • "Risks which will exceed their normal estimates" are composed of risks described below. <1> Underwriting risk, Underwriting risk for third-sector insurance products including accident, sickness and nursingcare insurance: Risks of rate of occurrence of insurance claims, etc. in excess of normal estimates (excluding risks relating to major catastrophes) <2> Guaranteed interest rate risk: Risks of invested assets failing to yield assumed interest rates due to the aggravation of investment conditions <3> Investment risk: Risks of securities and other assets held fluctuating in prices in excess of normal estimates <4> Business management risk: Risks beyond normal estimates arising from business management that do not fall under other categories <5> Major catastrophe risk: Risks of the occurrence of major catastrophic losses in excess of normal estimates (risks such as the Great Kanto Earthquake or Isewan Typhoon) <6> Guaranteed minimum benefit risk: Risks of special account assets fluctuating in prices in excess of normal estimates • "Solvency margin of insurance companies by means of their capital, reserves, etc." (total solvency margin (nonconsolidated)) is the sum of total net assets (excluding planned outflows), certain reserves (reserve for price fluctuation, contingency reserve and catastrophic loss reserve, etc.) and parts of net unrealized gains and losses on land, etc. • Since a solvency margin ratio regulation on a consolidated basis was adopted from March 31, 2012, solvency margin ratio and some of other related items represented in the past are stated with words “(non-consolidated)” like “Solvency margin ratio (Non-consolidated)”.

26

NKSJ Holdings, Inc.

• Solvency margin ratio is one of the indicators for the regulatory authorities to monitor financial soundness of insurance companies. Solvency margin ratio exceeding 200% would indicate adequate capability to meet payments of possible insurance claims and others.

27

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