Toa Re sees net income growth in FY’25
Japanese reinsurance group Toa Re has reported a strong financial performance for the fiscal year ending March 2025, with its net income increasing to 28.5 billion yen (USD 190 million).
This year’s net income increased by 12.9 billion yen, or 121% from the 15.5 billion yen (USD 97.4 million) reported in the previous fiscal year.
Toa Re reported that its ordinary income for fiscal year 2025 rose to 342.4 billion yen (USD 2.3 billion), an increase compared to the 329 billion yen (USD 2.07 billion) in the prior year.
This was influenced by underwriting income growth, which increased slightly year-on-year to 299.3 billion yen (USD 2 billion). The year experienced a slight decline in net written premiums, which went down to 275.9 billion yen (USD 1.8 billion).
Underwriting expenses included net claims paid of 214 billion yen (USD 1.4 billion). The reinsurer also reported that investment expenses went down this fiscal year to 1.7 billion yen (USD 11.3 million) compared to the previous consolidated fiscal year.
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Operating and general and administrative expenses also decreased by around 3 billion yen from the previous consolidated fiscal year to 18 billion yen (USD 120.7 million), and other ordinary expenses decreased by 3.2 billion yen.
According to Toa Re, its ordinary profit went up to 37.8 billion yen (USD 252.8 million) in this fiscal year, from 21.1 billion yen (USD 132.6 million) a year earlier.
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