Japan Post Insurance : Disclosure of preliminary European Embedded Value as of March 31, 2021

UNOFFICIAL TRANSLATION

Although Japan Post Insurance pays close attention to providing an English translation of the information disclosed in

Japanese, the Japanese original prevails over the English translation in the case of any discrepancy.

May 14, 2021

Company Name: JAPAN POST INSURANCE Co., Ltd.

Representative: SENDA Tetsuya, Director and President, CEO, Representative Executive Officer

Stock exchange listing: Tokyo Stock Exchange (Code Number: 7181)

Disclosure of preliminary European Embedded Value as of March 31, 2021

Japan Post Insurance Co., Ltd. (the "Company") (Chiyoda-ku, Tokyo; Director and President, CEO: SENDA Tetsuya) hereby announces that the preliminary European Embedded Value ("EEV") as of March 31, 2021 calculated based on the European Embedded Value Principles is as summarized below.

The Company plans to disclose the EEV as of March 31, 2021 with the attachment of third party opinion and the details on May 25, 2021.

Overview

The EEV as of March 31, 2021 increased by ¥701.9 billion from March 31, 2020 to ¥4,026.2 billion.

				(Billions of yen)
		As of	As of	Increase (Decrease)
		March 31, 2020	March 31, 2021
EEV	¥3,324.2	¥4,026.2	¥701.9
	Adjusted net worth	2,212.4	2,376.8	164.4
	Value of in-force covered	1,111.8	1,649.3	537.4
	business
		Fiscal year ended	Fiscal year ended	Increase (Decrease)
		March 31, 2020	March 31, 2021
Value of new business	¥60.6	¥(12.7)	¥(73.3)