Q1 2024 Tokio Marine Holdings Inc Earnings Call Transcript
Thank you very much for taking time out of your busy schedule to join us today. I am Okada, Group CFO. Today, we announced our first quarter financial results. So let me explain the contents and other related matters.
Please turn to Page 3. There are 3 points I want to communicate today. First is steady performance towards FY 2023 projections of JPY 670 billion. In the first quarter, there were some negative impact from nat cats in Japan and overseas and North American capital losses, but all of them are within the scope of our initial projections. In addition, yen depreciation led to an increase in the reserve for outstanding claims in foreign currency and a loss on valuation of foreign exchange derivatives in Japan, but those will be offset by the increase in full year profit for international insurance.
In addition, taking into account the domestic fire insurance profitability improvement, expansion of specialty insurance, stronger-than-expected international insurance
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