Financial Results for the Three Months Ended June 30, 2009

August 13, 2009
                                        
[Contents]
Financial Summary for the Three Months Ended June 30, 2009
1.
Business Highlights
--------
P.1
2.
Investment of General Account Assets
--------
P.3
3.
Unaudited Non-Consolidated Balance Sheets
--------
P.7
4.
Unaudited Non-Consolidated Statement of Earnings
--------
P.9
5.
Breakdown of Net Surplus from Operations (Fundamental Profit)
--------
P.10
6.
Solvency Margin Ratio
--------
P.11
7.
Status of Separate Accounts
--------
P.12
8.
Consolidated Financial Summary
--------
P.13
For further information please contact:
Financial Results for the Three Months Ended June 30, 2009
Corporate Planning Dept. No.1,
The Dai-ichi Mutual Life Insurance Company
TEL 81-50-3780-2811/3119
 The Dai-ichi Mutual Life Insurance Company (the "Company" or the "Parent Company"; President: Katsutoshi Saito)announces its financial results for the three months ended June 30, 2009.

1. Business Highlights
(1) Sum Insured of Policies in Force and New Policies
Policies in Force
Amount
(thousands)
% of March 31
2009 total
(billions of yen)
% of March 31
2009 total
(billions of
yen)
Individual insurance
11,003
99.6
156,437.7
98.3
11,051
159,072.0
Individual annuities
1,206
100.4
7,021.1
100.7
1,202
6,975.8
Individual insurance and annuities
12,210
99.6
163,458.8
98.4
12,254
166,047.8
Group insurance
- -
54,954.2
100.3 -
54,769.4
Group annuities
- -
6,210.2
101.1 -
6,140.6
Note: 1) Policy amount in force of individual annuities is equal to (a) the funds to be held at the time annuity payments are to
commence for an annuity for which payment has not yet commenced, and (b) the amount of policy reserve for an annuityfor which payments have commenced.
2) Policy amount in force of group annuities is equal to the amount of outstanding corresponding policy reserve.
New Policies
New Business
Net increase
by conversion
Three months ended June 30, 2008
Individual insurance
238
1,379.9
1,393.8
(13.9)
Individual annuities
8
59.6
62.0
(2.3)
Individual insurance andannuities
246
1,439.5
1,455.9
(16.3)
Group insurance
- 136.2
136.2
Group annuities
- 0.2
0.2
Three months ended June 30, 2009
Individual insurance
234
1,253.7
1,315.3
(61.5)
90.9
Individual annuities
12
84.5
87.1
(2.5)
141.8
Individual insurance andannuities
247
1,338.3
1,402.4
(64.1)
93.0
Group insurance
- 23.8
23.8
17.5
Group annuities
- 0.4
0.4
203.9
Note: 1) Number of new policies is the sum of new business and policies after conversion.
2) Amount of new policies for individual annuities, both new business and net increase by conversion, is equal to the funds
to be held at the time annuity payments are to commence.
3) Amount of new policies for group annuities is equal to the initial premium payment.
(Reference) Surrender and lapse in individual insurance and individual annuities
(billions of yen)
Three months
ended June
30, 2008
Three months
ended June
30, 2009
2,534.2
2,665.2
1.45
1.61
The amount of lapses is not offset by the amount of lapses which are reinstated.
2)
The table above excludes cases where the sum insured is decreased or riders are surrendered for in-forcecontracts.
As of March 31, 2009
Number of
Policies
(thousands)
Number of
Policies
(thousands)
Amount (billions of yen)
% of June
30, 2008
total
Note: 1)
As of June 30, 2009
Number of Policies
Amount
Amount of surrender and lapse
Surrender and lapse rate (%)
-1-
The Dai-ichi Mutual Life Insurance Company

(2) Annualized Net Premiums
Policies in Force
(billions of yen)
% of March 31, 2009 total
Individual insurance
1,748.2
98.9
Individual annuities
288.0
100.9
Total
2,036.2
99.2
New Policies
(billions of yen)
Individual insurance
23.4
21.3
90.9
Individual annuities
3.1
3.0
97.8
Total
26.6
24.4
91.7
Note:
1)
payment. In single premium contracts, the amount is calculated by dividing the premium by the duration of the policy.
2)
illness and nursing care are included.
3)
New policies include net increase by conversion.
Medical and survival benefits
99.6
84.8
Medical and survival benefits
9.0
Three months ended
June 30, 2008
7.6
Three months ended June 30, 2009
% of June 30 2008 total
As of June 30, 2009
As of March 31, 2009
490.9
1,766.8
285.5
2,052.4
492.7
Annualized net premiums are calculated by using multipliers for various premium payment terms to the premium per
Annualized net premiums for medical and survival benefits include (a) premiums related to medical benefits such as
hospitalization and surgery benefits, (b) premiums related to survival benefits such as specific illness and nursing benefits,
and (c) premiums related to premium waiver benefits, in which disability cause is excluded but causes such as specific
-2-
The Dai-ichi Mutual Life Insurance Company

2. Investment of General Account Assets
(1) Asset Composition (General Account)
(millions of yen)
Carrying value
%
Carrying value
%
269,446

0.9

359,046

1.2

-

-

-

-

58,164

0.2

14,954

0.1

298,871

1.0

281,371

1.0

58,634

0.2

52,597

0.2

17,266

0.1

13,265

0.0

22,346,747

76.2

21,588,974

74.7

12,408,250

42.3

12,620,231

43.7

3,290,897

11.2

2,846,053

9.9

6,427,826

21.9

5,908,767

20.5

Foreign bonds
4,967,307

16.9

4,459,828

15.4

Foreign stocks and other securities
1,460,518

5.0

1,448,938

5.0

219,772

0.7

213,921

0.7

4,126,587

14.1

4,248,438

14.7

596,416

2.0

604,706

2.1

3,530,171

12.0

3,643,732

12.6

1,229,323

4.2

1,235,122

4.3

777,733

2.7

778,840

2.7

410,040

1.4

640,990

2.2

532,306

1.8

459,888

1.6

(9,786)

(0.0)

(10,916)

(0.0)

29,337,602

100.0

28,883,735

100.0

4,990,718

17.0

4,404,129

15.2

Note: "Real estate" represents total amount of land, buildings and constuction in progress.
Other securities
Real estate for rent
Deferred tax assets
Loans
Policy loans
Ordinary loans
Foreign currency-denominated assets
Deposit paid for securities borrowing transactions
Trading account securities
Others
Total
Reserve for possible loan losses
Money held in trust
Securities
Domestic bonds
Real estate
Domestic stocks
Foreign securities
Securities repurchased under resale agreements
Monetary claims bought
As of March 31, 2009
Cash, deposits, and call loans
As of June 30, 2009
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The Dai-ichi Mutual Life Insurance Company

(2) Fair Value Information on Securities (General Account) (securities with fair value except for trading securities)
(millions of yen)
Book value
Fair value
Gains (losses)
Gains
Losses
Bonds held to maturity
172,444

175,589

3,145

4,550

1,404

Domestic bonds
123,836

124,065

228

1,633

1,404

Foreign bonds
48,608

51,524

2,916

2,916

-

Policy-reserve-matching bonds
5,329,186

5,505,219

176,033

184,762

8,729

Domestic bonds
5,329,186

5,505,219

176,033

184,762

8,729

Stocks of subsidiaries and affiliates
15,906

22,303

6,396

6,396

-

Securities available for sale
15,133,576

15,670,585

537,008

945,036

408,027

Domestic bonds
6,733,217

6,955,227

222,010

235,934

13,923

Domestic stocks
2,577,625

2,955,565

377,940

573,424

195,484

Foreign securities
5,416,089

5,354,909

(61,180)

124,518

185,698

Foreign bonds
4,939,955

4,918,699

(21,256)

94,280

115,537

Foreign stocks and other securities
476,133

436,209

(39,923)

30,237

70,161

Other securities
110,451

106,010

(4,440)

7,113

11,553

Monetary claims bought
296,193

298,871

2,678

4,045

1,367

Certificates of deposit
-

-

-

-

-

Others
-

-

-

-

-

Total
20,651,114

21,373,698

722,584

1,140,746

418,161

Domestic bonds
12,186,240

12,584,512

398,272

422,330

24,058

Domestic stocks
2,577,625

2,955,565

377,940

573,424

195,484

Foreign securities
5,480,604

5,428,737

(51,866)

133,832

185,698

Foreign bonds
4,988,563

4,970,224

(18,339)

97,197

115,537

Foreign stocks and other securities
492,040

458,512

(33,527)

36,634

70,161

Other securities
110,451

106,010

(4,440)

7,113

11,553

Monetary claims bought
296,193

298,871

2,678

4,045

1,367

Certificates of deposit
-

-

-

-

-

Others
-

-

-

-

-

Bonds held to maturity
173,462

177,941

4,479

5,842

1,362

Domestic bonds
123,697

123,767

70

1,433

1,362

Foreign bonds
49,765

54,174

4,408

4,408

-

Policy-reserve-matching bonds
5,161,684

5,391,451

229,767

233,682

3,915

Domestic bonds
5,161,684

5,391,451

229,767

233,682

3,915

Stocks of subsidiaries and affiliates
16,345

16,345

(0)

-

0

Securities available for sale
14,936,493

14,862,019

(74,473)

571,671

646,145

Domestic bonds
7,160,812

7,334,849

174,037

195,947

21,910

Domestic stocks
2,606,474

2,509,680

(96,794)

277,480

374,274

Foreign securities
4,943,671

4,805,430

(138,240)

96,950

235,190

Foreign bonds
4,465,666

4,410,063

(55,603)

86,170

141,774

Foreign stocks and other securities
478,004

395,367

(82,637)

10,779

93,416

Other securities
115,534

102,058

(13,476)

1,293

14,770

Monetary claims bought
19,999

19,999

-

-

-

Certificates of deposit
90,000

90,000

-

-

-

Others
-

-

-

-

-

Total
20,287,986

20,447,758

159,772

811,196

651,424

Domestic bonds
12,446,194

12,850,068

403,874

431,063

27,188

Domestic stocks
2,606,474

2,509,680

(96,794)

277,480

374,274

Foreign securities
5,009,343

4,875,512

(133,831)

101,358

235,190

Foreign bonds
4,515,431

4,464,237

(51,194)

90,579

141,774

Foreign stocks and other securities
493,911

411,274

(82,637)

10,779

93,416

Other securities
115,973

102,496

(13,476)

1,293

14,770

Monetary claims bought
19,999

19,999

-

-

-

Certificates of deposit
90,000

90,000

-

-

-

Others
-

-

-

-

-

Note: 1)
2)
Money held in trust classified as other than trading securities, in which bank deposits are held, is excluded from the table above. Book value, equivalent of fair value, of money held in trust as of June 30, 2009 and as of March 31, 2009 amounted to1,148 million yen and 1,176 million yen, respectively.
As of March 31, 2009
The table above includes assets, such as certificates of deposit, which are considered appropriate to handle as securities, as defined in theFinancial Instruments and Exchange Law.
As of June 30, 2009
-4-
The Dai-ichi Mutual Life Insurance Company