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Daiichi Life’s earnings mix shifts toward investments

Premium and other income rose to ¥6,944,066,000,000 in the year to March 2026, but investment income made the bigger jump, reaching ¥3,735,313,000,000. Ordinary income was nearly flat at ¥753,688,000,000, while total assets ended the year at ¥74,159,096,000,000.

Jun 16, 20262 min read
Editorial illustration of bond-like instruments and reserve containers representing an insurer’s earnings mix and asset base.

Daiichi Life Group’s latest annual report shows a year in which the insurer’s earnings mix shifted more than the headline profit line did. Premium and other income rose to 6,944,066,000,000 yen in the year to March 2026 from 6,799,366,000,000 yen a year earlier, but the bigger move was investment income, which increased to 3,735,313,000,000 yen from 2,528,416,000,000 yen. Ordinary income, by contrast, was almost flat at 753,688,000,000 yen versus 755,728,000,000 yen the year before.

A snapshot of the latest filed year sits below.

Year-on-year snapshot
Exact yen figures from Daiichi Life Group’s annual securities report.
MetricYear to March 2026Year to March 2025
Premium and other income6,944,066,000,000 yen6,799,366,000,000 yen
Investment income3,735,313,000,000 yen2,528,416,000,000 yen
Benefits and claims6,447,114,000,000 yen6,581,327,000,000 yen
Ordinary income753,688,000,000 yen755,728,000,000 yen
Profit attributable to owners of parent436,597,000,000 yen458,407,000,000 yen
Total assets74,159,096,000,000 yen69,404,123,000,000 yen
Net assets4,254,212,000,000 yen3,639,369,000,000 yen

The mix underneath those totals is what makes the filing worth a look. Benefits and claims were 6,447,114,000,000 yen, down from 6,581,327,000,000 yen, while profit attributable to owners of parent was 436,597,000,000 yen, below 458,407,000,000 yen a year earlier. In other words, the top line improved, the investment line did much more of the heavy lifting, and the final profit picture was steady rather than spectacular.

The balance sheet stayed vast. Total assets ended March at 74,159,096,000,000 yen, up from 69,404,123,000,000 yen, and net assets rose to 4,254,212,000,000 yen from 3,639,369,000,000 yen. For insurer watchers, that matters because it shows the sheer balance-sheet scale sitting behind those earnings. The filing itself does not spell out what drove the jump in investment income, so it is more scoreboard than playbook, and not necessarily the first public disclosure of every number.

The longer-run premium record is also less linear than a simple growth story suggests: 6,654,426,000,000 yen in the year to March 2023, 7,526,357,000,000 yen in 2024, 6,799,366,000,000 yen in 2025, and 6,944,066,000,000 yen in 2026. Separately, Daiichi Life said its internal controls over financial reporting were effective as of March 31, after evaluating 64 business locations and reviewing key processes tied to policy reserves, securities, loans and derivatives.