Special Report: Global Financial Crisis

    TOKYO, Nov. 19 (Xinhua) -- Japan's six major nonlife insurers registered a total loss of about 190 billion yen in connection with the global financial turmoil in the six months through September, according to their earnings reports released Wednesday.

    While declining premium revenues due to slumping sales of automobile insurance policies weighed on their balance sheets, five of the six firms booked sharp falls in their group net profit during the first half of the 2008 business year compared with levels a year earlier.

    The combined loss on the credit turmoil for the full year ending next March will be 450 billion yen. All six downgraded their net profit forecast, with Sompo Japan Insurance Inc. saying it will fall into the red.

    Tokio Marine Holdings Inc., the biggest of the six, recorded a loss of 72.4 billion yen related to the financial turmoil in the six-month period. Its net profit fell 75.9 percent to 18.05 billion yen.

    Mitsui Sumitomo Insurance Group Holdings Inc. slid into the red in its pretax balance with a loss of 5.27 billion yen while its net profit dropped 59.4 percent to 12.40 billion yen.

    Only Nipponkoa Insurance Co. booked a rise in net profit, up 2.2 percent to 12.84 billion yen.