News Release - sonylife.co.jp

1 News Release 2018 5 21 .. 2018 3 .. European Insurance CFO Forum Market Consistent embedded Value Principles 1 . MCEV Principles 2018 3 Market Consistent embedded Value MCEV .. 2018 3 MCEV MCEV 2017 .. 2018 3 2017 3 . MCEV 16,332 14,411 1,921. 17,861 16,577 1,284. 1,529 2,167 637. 2017 2016 . 704 291 413.. 1 Copyright Stichting CFO Forum Foundation 2008. 1.. 3. MCEV .. 3.. 3.. 3.. 3. MCEV Principles .. 4. MCEV .. 4.. 5. MCEV .. 6. MCEV .. 6.. 6.. 7.. 8.. 8.. 9.. 12.. 16.. 16.. 22.. 22. MCEV .. 25.. 25.. 25.. 25.. 25. MCEV .. 25.. 25.. 26.. 27.. 27.. 27.. 27.. 27.. 28.. 28.. 28.. 30.. 32. 2.. MCEV .. CFO chief financial officer CFO . 2004 5 European embedded Value EEV .. EEV . EEV Traditional embedded Value .. EEV . EEV MCEV . MCEV . CFO MCEV EV . 2008 6 MCEV Principles CFO . 2016 5 MCEV Principles EU.

2 2008 3 MCEV Principles MCEV .. 113 113 .. Sony Life Singapore .. EV MCEV Principles .. MCEV . Milliman, Inc.. 3.. MCEV Principles . MCEV MCEV Principles . MCEV Principles . MCEV Principles . MCEV . MCEV .. MCEV Principles Group MCEV .. 113 113 .. Sony Life Singapore .. MCEV . MCEV Principles MCEV . MCEV . MCEV . EV . MCEV .. 4.. EU .. LIBOR .. ALM . ALM . ALM .. 30 40 .. 2018 3 MCEV .. 5. MCEV . MCEV . 2018 3 MCEV . 1,921 .. 2018 3 2017 3 . MCEV 16,332 14,411 1,921. 17,861 16,577 1,284. 1,529 2,167 637.. 9 .. 1,284 .. 2018 3 2017 3 . 17,861 16,577 1,284. 4,928 4,736 192. 479 460 19. 899 825 75. 0 0 0. 21 12 9. 15,826 14,456 1,371. 349 260 89. 697 710 13. 24 36 11. 232 194 39. 5,044 4,618 426. 37 34 4. 6. 200% .. 2018 3 2017 3 . 17,861 16,577 1,284. 9,261 4,961 4,300. 8,600 11,617 3,016.

3 637 .. 2018 3 2017 3 . 1,529 2,167 637. 3,167 3,500 333. 1,360 1,452 91. 227 356 129. 3,109 3,859 750. 7.. 413 .. 2017 2016 . 704 291 413. 1,063 683 379. 69 91 23. 2 1 1. 268 298 31. 20 2 19.. 2017 2016 . 704 291 413. 12,138 12,974 835.. 2017 2016 . 1,015 226 790. 933 1,047 114. 2. 3 2 1 1 .. 3 . 8.. MCEV .. MCEV.. MCEV 4,961 11,617 2,167 14,411. MCEV 231 231. MCEV 4,730 11,617 2,167 14,180. 32 11 725 704. 14 28 205 164. 6 12 51 68. 88 616 703 . 661 661 . 1,195 1,143 40 92. 91 91 362 362. 3,733 3,733 804 804. MCEV 4,892 5,588 2,890 2,194. 361 2,571 2,253 42.. MCEV 4,531 3,016 637 2,152. MCEV . MCEV 9,261 8,600 1,529 16,332. 9. MCEV .. MCEV .. MCEV .. MCEV MCEV .. MCEV .. MCEV 1,143 .. 10.. MCEV .. 40 30 . IAIS ICS . 584 . 2018 2 2018 4 .. MCEV .. MCEV .. MCEV .. 2,256 . 198 45 . 132 19.

4 ALM . MCEV 23 . 19 .. MCEV .. 11.. MCEV . MCEV .. MCEV .. 16,332 . 50bp 15,526 806 5%. 50bp 16,792 460 3%. 16,563 231 1%. 10% 16,107 225 1%.. 25% 16,042 289 2%.. 25% 16,145 187 1%.. 10% 16,597 265 2%. 16,179 153 1%.. 16,993 661 4%.. 16,208 123 1%. 16,986 655 4%. 16,521 189 1%. 10% 16,135 197 1%. MCEV .. MCEV .. 50bp 806 8,308 9,114.. 50bp 460 7,182 7,642. 10% 225 84 140. 10% 197 1 198. 12.. 704 . 50bp 656 48 7%. 50bp 736 32 5%. 634 71 10%. 10% 704 0 0%.. 25% 699 5 1%.. 25% 691 13 2%.. 10% 722 17 2%. 775 70 10%.. 754 50 7%.. 701 3 0%. 721 17 2%. 704 0 0%. 10% 670 34 5%. 13.. ALM .. MCEV Principles 100bp . 50bp .. 0% .. 14.. 200% .. 15.. MCEV 2018 3 .. 2018 3 .. 40 30 41 31 . 20 30 . Smith-Wilson ICS . 40 30 . 40 30 . 30 40 30 .. 2018 2017 2018 2017 . 3 3 3 3 . 1 5 10 20 30 40 50 60 70 80 Bloomberg.

5 16.. 2018 3 2018 3 . 1 5 10 20 30 40 50 60 70 80 Bloomberg .. 17.. 2018 3 .. 1,000 . Milliman, Inc.. 2018 3 bp .. 1 1 10 1 10 10 10 20 20 1 20 10 20 20 Markit . 2017 3 bp .. 1 1 10 1 10 10 10 20 20 1 20 10 20 20 Markit .. 10 11 . 10 .. 18. 2018 3 .. / / / . TOPIX S&P SX5E FTSE. 1 5 10 Bloomberg Markit . 2017 3 .. / / / . TOPIX S&P SX5E FTSE. 1 5 10 Bloomberg Markit . 19.. 2013 4 2018 3 5 .. 2018 3 . TOPIX S&P SX5E FTSE. / / / . 1 1 1 1 .. 1 .. 1 .. 1 .. 1 .. / .. / .. / . TOPIX S&P SX5E FTSE Bloomberg . 20. 2017 3 . TOPIX S&P SX5E FTSE. / / / . 1 1 1 1 .. 1 .. 1 .. 1 .. 1 .. / .. / .. / . TOPIX S&P SX5E FTSE Bloomberg . 21.. 2018 3 TTM: .. 2018 3 2017 3 . 1 . 1 . 1 .. 2018 3 .. 2018 3.. 2018 3 .. 22.. 15 2017 . MCEV Principles .. 23.. 2019 9 8 2019 10 10% .. 40 10 . 41 . 60 .. 24.

6 MCEV .. 113 113 . 38 . Sony Life Singapore . 3 . 80 .. 2017 .. MCEV. MCEV .. 9 .. 25.. MCEV Principles .. 200% .. EU .. 7,297 . 8,600 .. EU .. 3 .. EU .. 10,050 7,297 2,753 . 1,383 1,496 4,136.. 26.. EU .. 27.. EU 6% . CRO chief Risk officer CRO . CRO .. MCEV .. 518 530 . 28. 518 .. 29.. MCEV . Milliman, Inc.. 2018. 3 31 MCEV . 2018 3 31 . 2017 3 31 . MCEV . 2018 5 21 . European Insurance CFO Forum Market Consistent embedded Value Principles 1 MCEV Principles .. MCEV Principles . MCEV . MCEV .. MCEV Principles Group MCEV .. 113 113 .. Sony Life Singapore .. MCEV. Principles .. 1 Copyright Stichting CFO Forum Foundation 2008. 30.. MCEV .. MCEV . MCEV.. MCEV . MCEV Principles .. 31.. ICS(Insurance IAIS IAIGs . Capital Standard) .. MCEV .. EU European Union 2016 1 .. 2 .. 32.. MCEV Principles.

7 200% .. MCEV Principles Reference Rate . MCEV Principles Reference Rate .. 33.