The Toa Reinsurance Company, Limited (E03842) Stock Price

**Toa Reinsurance Business Overview**

Toa Reinsurance is a reinsurance company operating in the property and casualty insurance business both domestically in Japan and internationally. The company supports risk diversification and stability across the insurance industry by accepting risks that insurance companies have underwritten as reinsurance.

The company's primary customers are property and casualty insurers in Japan and abroad. Its revenue model is based on receiving reinsurance premiums from these insurers and paying reinsurance claims when insured events occur. Reinsurance services are essential to insurance companies' risk management and provide a stable revenue foundation.

As a parent company, the company operates with property and casualty insurance as its core business, conducting operations through three subsidiaries. Each subsidiary engages in property and casualty insurance and real estate maintenance management operations in their respective countries, with the group as a whole pursuing diversified business operations.

Toa Re is implementing a three-year medium-term management plan called "KIZUNA 2026" starting in fiscal year 2024, pursuing a management strategy focused on sustainable growth. The company has established "adjusted ROE" and "adjusted profit" as key performance indicators, aiming to enhance corporate value through their achievement. Adjusted profit is calculated by adding reserve contributions to net income while excluding special factors, providing a more stable measure of earnings capacity.

The core of the company's differentiation strategy lies in providing "optimal solutions and added-value services" to its insurance company customers. Beyond simply underwriting reinsurance, the company strengthens comprehensive support for solving customer challenges, including risk analysis and management stabilization assistance, thereby differentiating itself from competitors. Through this strategy, the company maintains high-quality customer relationships and pursues improved profitability even as competition for contract acquisition intensifies in the reinsurance market.

Facing business environment challenges such as increasingly severe natural disasters and diversifying, complex risks, the company is focusing on further strengthening its management foundation. To respond to rising geopolitical risks and reinsurance market volatility, the company is advancing risk management system enhancements and business portfolio optimization. The company is also deepening business collaboration across the group in response to changing customer needs domestically and internationally, promoting the development of more flexible and efficient business operations.

Under its corporate philosophy of "Supporting society's peace of mind—Toa Re," the company maintains a strategy of fulfilling its social mission as a reinsurer while growing together with customers and society. The company incorporates contributions to realizing a sustainable society and efforts to protect the global environment into its management policy, pursuing comprehensive management strategy aimed at long-term corporate value creation.