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SONY CORPORATION ANNUAL REPORT 2000
30
insurance
BUSINESS REVIEW
MESSAGE FROM TOP MANAGEMENT
The basic mission of Sony Life Insurance Co., Ltd., to ensure the financial security and stability of
our customers by offering effective life insurance and quality services, closely mirrors the philo-
sophy of the entire Sony Group: making peoples’ dreams come true. Due to our consulting-driven
sales activities being well received by customers ever since the start of our operations, life insur-
ance-in-force has steadily risen. Through the years, we have concentrated all our efforts on bolstering
our operating base and the soundness of our management. As a result, not only have we main-
tained one of the highest solvency margin ratios among Japanese
life insurers, but we have also received high ratings from rating
agencies in Japan and overseas. Aiming to apply our life insurance
expertise in countries other than Japan, our newly established
subsidiary Sony Life Insurance (Philippines) Corporation began
operations in that nation in November 1999. By taking advantage of
the opportunities created by deregulation in Japan, Sony Life will
work to expand its business, focusing on areas where we believe we
can best leverage the resources of our core life insurance business.
SUSTAINING BOTH GROWTH AND FINANCIAL SOUNDNESS
In recent years, insurance-in-force and total assets at Japan’s life insurers have in general been
declining. Nevertheless, Sony Life has sustained high growth rates in both categories. As of
March 31, 2000, Sony Life’s solvency margin ratio was 1,437%. This is many times greater than
Japan’s administrative guideline of 200% for life insurers and one of the highest of any life
insurance company in Japan. Reflecting an excellent reputation for growth, profitability, quality
of assets, policyholder reserves, and other financial attributes, Sony Life was rated AA- IFS (Insurer
Financial Strength) as of May 2000 by the U.S. rating agency Standard & Poor’s.
KEN IWAKI
President and Chief Operating Officer
Sony Life Insurance Co., Ltd.
Sony Life differentiates itself through its Lifeplanners who
use both their extensive financial consulting training and
sophisticated computer software to create customized
solutions tailored for individual customers’ present and
future requirements.