Sumitomo Life returns to profit as premiums jump 29.8% in Q1 2026

Overseas business reached $2.4b after a 43% rise.

Sumitomo Life Insurance Company returned to profitability in the first quarter of fiscal year 2026 (Q1 2026), driven by strong growth in insurance premiums both domestically and overseas.

Consolidated ordinary profit reached $581.9m (JPY92.2b), bouncing back from a $155.3m (JPY24.6b) loss recorded in the same period last year.

Net surplus to the parent company also turned positive at $78.3m (JPY12.4b), reversing a $59.3m (JPY9.4b) loss from a year earlier.

Overall insurance premium income grew 29.8% year-on-year to $6.4b (JPY1,013.7b) in Q1 2026. 

Domestic premiums increased by 23.2% to $4.0b (JPY636.5b), boosted by solid sales of single-premium whole life policies.

Overseas premium income climbed 43.0% to $2.4b (JPY377.1b), aided by a weaker yen and expansion from international subsidiaries, including Symetra and Singlife.

Group core profit jumped 82.3% year-on-year to $848.9m (JPY134.5b). Domestic performance benefited from an expanded positive spread, which rose $330.1m (JPY52.3b) to $480.3m (JPY76.1b) on higher interest returns from foreign securities.

Overseas core profit more than doubled to $278.9m (JPY44.2b) during Q1 2026.

CreditSights said in a research note that the insurer’s capital adequacy figures remain on track, with the internal Economic Solvency Ratio scheduled for publication on 27 August 2026.

At the end of fiscal year 2025, the ratio stood at 197%, placing it near the top end of the firm’s 170% to 200% target range. 

($1.00 = JPY158.45)