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Investor Presentaiton

Surrender & Lapse, Sales Representatives & Productivity Surrender & Lapse (Individual Insurance & Annuities) (trillions of yen) Dai-ichi Life Holdings Number of Sales Reps and Productivity(1)(2) 5.4% 5.0% (persons) 29.6 (policies) 6% 27.7 27.6 30 30 50,000 5% 20 22 25 4.1% 10 3.9% 3.7% 40,000 4% improved 30,000 by 10.3% YoY 20,000 41,695 42,471 44,611 4Q 5 1.3 3Q 1.2 1.3 1.2 2Q 1.4 1.2 222 1.1 1.1 10,000 1.1 1Q 1.4 1.3 1.1 0 Mar-15 Mar-16 Mar-17 Surrender & lapse rate (right) (1) (2) Dai-ichi Industry Average 0 Mar-15 Mar-16 Mar-17 Number of sales reps Number of new policies at the end of period per sales rep (right) 17 The number of sales representatives does not include those who are not full-time employees of Dai-ichi Life and are engaged mainly in ancillary work. Calculated by dividing the number of new policies (incl. conversions) by the average number of sales representatives in each period.
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