Supplement -June 20, 2024 Restatement: (d) Losses caused by natural disasters

[Attachment]

Explanatory Material for Business Results for the Year Ended March 31, 2024

May 20, 2024

MS&AD Insurance Group Holdings, Inc.

This document has been translated from the Japanese original solely for reference purposes, and the Japanese original shall prevail if any discrepancy is identified.

MS&AD Insurance Group Holdings,Inc.

Contents

				Page
1.	Summary of Consolidated Business Results ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・	1
	(1)	Consolidated Business Results	・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・	1
	(2)	Business Results of Domestic Non-Life Insurance Subsidiaries (Simple Sum of Two Main
		Consolidated Subsidiaries) ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・	2
	(3)	Business Results of Domestic Life Insurance Subsidiaries ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・	3
	(4)	Business Results of Overseas Insurance Subsidiaries ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・	4
2.	Non-Consolidated Business Results of Mitsui Sumitomo Insurance Co., Ltd. ・・・・・・・・・・・	5
3.	Non-Consolidated Business Results of Aioi Nissay Dowa Insurance Co., Ltd. ・・・・・・・・・・・	10
4.	Earnings Forecasts
	(1)	Consolidated Business Results	・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・	15
	(2)	Domestic Non-Life Insurance Subsidiaries (Two Main Consolidated Subsidiaries) ・・・・・・・・・・・・・・	16
[Supplementary Information]
1.	Supplementary Information on Consolidated Business Results ・・・・・・・・・・・・・・・・・・・・・・・	17

1. Consolidated Business Results
2. Premiums Written and Net Claims Paid by Line of Insurance
3. Investments in Securities

2.	Summary of Business Results of Main Consolidated Subsidiaries ・・・・・・・・・・・・・・・・・・・・	20
	(1)	Mitsui Sumitomo Insurance Co., Ltd. (Non-consolidated)
	(2)	Aioi Nissay Dowa Insurance Co., Ltd. (Non-consolidated)
	(3)	Mitsui Direct General Insurance Co., Ltd. (Non-consolidated)
	(4)	Mitsui Sumitomo Aioi Life Insurance Co., Ltd. (Non-consolidated)
	(5)	Mitsui Sumitomo Primary Life Insurance Co., Ltd. (Non-consolidated)
3.	Supplementary Information on Business Results
	for the Year Ended March 31, 2024 for Press Conference ・・・・・・・・・・・・・・・・・・・・・・・・・・	40

1. Mitsui Sumitomo Insurance Co., Ltd. (Non-consolidated)
2. Aioi Nissay Dowa Insurance Co., Ltd. (Non-consolidated)

(Reference)
Effect of retrospective application of IFRS 17 ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・	46

MS&AD Insurance Group Holdings,Inc.

1. Summary of Consolidated Business Results

(1) Consolidated Business Results

					(Yen in 100 millions)
	Items	Year ended	Year ended	Change	Change ratio
	March 31, 2023	March 31, 2024
					%
Net premiums written (non-life insurance)	1	39,332	42,617	3,285	8.4
Mitsui Sumitomo Insurance	2	16,298	16,233	(65)	(0.4)
Aioi Nissay Dowa Insurance	3	13,355	13,689	334	2.5
Simple sum	4	29,653	29,922	269	0.9
Mitsui Direct General Insurance	5	345	352	6	2.0
Overseas insurance subsidiaries	6	9,329	12,336	3,007	32.2
Insurance premiums (domestic life insurance)	7	17,075	18,273	1,198	7.0
Mitsui Sumitomo Aioi Life Insurance	8	4,871	4,737	(133)	(2.7)
Mitsui Sumitomo Primary Life Insurance	9	12,204	13,535	1,331	10.9
Ordinary profit	10	2,922	4,164	1,241	42.5
Net income attributable to owners of the parent	11	2,110	3,692	1,582	75.0
Mitsui Sumitomo Insurance	12	1,078	1,677	598	55.5
Aioi Nissay Dowa Insurance	13	431	560	128	29.8
Simple sum	14	1,510	2,238	727	48.2
Mitsui Direct General Insurance	15	8	(15)	(24)	(272.7)
Mitsui Sumitomo Aioi Life Insurance	16	127	281	154	121.5
Mitsui Sumitomo Primary Life Insurance	17	197	196	(0)	(0.3)
Overseas insurance subsidiaries	18	665	1,538	872	131.0
Others, consolidation adjustments, etc.	19	(400)	(547)	(147)	-

(Note) 1. Items 12 to 18 represent the net income or loss on a non-consolidated basis after taking into account the Company's ownership interests in its subsidiaries.

2. Overseas consolidated subsidiaries and overseas equity method associates have adopted International Financial Reporting Standards (IFRS) 17 "Insurance Contracts" from the beginning of the year ended March 31, 2024, since these entities have already adopted IFRS.

The figures for the year ended March 31, 2023 are presented on IFRS 17 basis retrospectively.

(Supplement 1) Incurred Losses Caused by Natural Disasters in Japan, Excluding Residential Earthquake Insurance, of Two Main Consolidated Domestic Non-Life Insurance Subsidiaries

				(Yen in 100 millions)
	Items	Year ended	Year ended	Change
	March 31, 2023	March 31, 2024
Total	20	974	1,134	160
Mitsui Sumitomo Insurance	21	512	613	100
Aioi Nissay Dowa Insurance	22	461	520	59

(Supplement 2) Incurred Losses Caused by Overseas Natural Disasters

				(Yen in 100 millions)
	Items	Year ended	Year ended	Change
	March 31, 2023	March 31, 2024
Total	23	479	492	13
Aioi Nissay Dowa Insurance	24	167	215	48
Overseas insurance subsidiary (MS Amlin)	25	291	265	(25)
Other subsidiaries	26	20	11	(9)

(Notes) The scope of aggregation for overseas natural disasters is determined on the basis of internal management.

1	MS&AD Insurance Group Holdings,Inc.

1. Business Results of Domestic Non-Life Insurance Subsidiaries (Simple Sum of Two Main Consolidated Subsidiaries)

The figures in the tables below are presented as simple sum of Mitsui Sumitomo Insurance Co., Ltd. and Aioi Nissay Dowa Insurance Co., Ltd.

									(Yen in 100 millions)
			Items	Year ended		Year ended		Change	Change ratio
			March 31, 2023		March 31, 2024
(+)	Net premiums written		1	29,653		29,922		269	0.9
(-)	Net claims paid		2	17,538		17,769		230	1.3
(-)	Loss adjustment expenses		3	1,838		1,965		127	6.9
(-)	Commissions and collection expenses		4	5,884		5,902		18	0.3
(-)	Operating expenses and general and		5	4,031		4,073		41	1.0
administrative expenses for underwriting
	Underwriting profit before		6	360		211		(149)	(41.4)
	movements in reserves
(-)	Movement in outstanding claims		7	600		1,652		1,051	175.1
(-)	Movement in ordinary underwriting reserves		8	597		(404)		(1,001)	(167.7)
(+)	Other		9	296		453		156	53.0
	Underwriting profit/(loss) before		10	(541)		(584)		(42)	-
	movement in catastrophe reserve
(-)	Movement in catastrophe reserve		11	(388)		(459)		(70)	-
	Underwriting profit/(loss)		12	(152)		(124)		27	-
(+)	Interest and dividends income		13	1,986		2,284		297	15.0
(-)	Transfer of investment income on deposit		14	395		401		6	1.6
premiums from policyholders
	Net interest and dividends income		15	1,591		1,882		291	18.3
	(item 13 - item 14)
(+)	Gains/(losses) on sales of securities		16	1,305		1,816		511	39.2
(-)	Impairment losses on securities		17	284		253		(30)	(10.9)
(+)	Other		18	(280)		(252)		28	-
	Investment profit		19	2,331		3,193		862	37.0
(+)	Other ordinary profit/(loss)		20	(98)		(135)		(36)	-
	Ordinary profit		21	2,079		2,933		854	41.1
(+)	Extraordinary income/(losses):		22	(107)		0		107	-
	Gains/(losses) on reserve for price fluctuation	23	(61)		(63)		(2)	-
	Income before income taxes		24	1,972		2,933		961	48.7
(-)	Income taxes		25	461		695		233	50.6
	Net income		26	1,510		2,238		727	48.2
	Net loss ratio	Note 1	27	65.3	%	66.0	%	0.7	%
Ratios	Net expense ratio	Note 2	28	33.4	%	33.3	%	(0.1) %
	Combined ratio	Note 3	29	98.7	%	99.3	%	0.6	%
Incurred losses (including loss adjustment expenses)	Note 4, 5	30	17,910		19,262		1,351	7.5
	EI loss ratio	Note 4, 6	31	67.7	%	70.1	%	2.4	%

(Notes) 1. Net loss ratio = (net claims paid + loss adjustment expenses) / net premiums written x 100

1. Net expense ratio = (commissions and collection expenses + operating expenses and general and administrative expenses for underwriting) / net premiums written x 100
2. Combined ratio = net loss ratio + net expense ratio
3. The calculation is exclusive of residential earthquake insurance and CALI*.
   * CALI stands for compulsory automobile liability insurance, and the same hereinafter.
4. Incurred losses (including loss adjustment expenses) = net claims paid + loss adjustment expenses + movement in outstanding claims
5. EI loss ratio = incurred losses (including loss adjustment expenses) / earned premiums x 100
   Earned premiums are calculated based on unearned premiums (excluding underwriting reserves for natural disasters), premium reserve, etc.

2	MS&AD Insurance Group Holdings,Inc.

1. Business Results of Domestic Life Insurance Subsidiaries 1. Mitsui Sumitomo Aioi Life Insurance Co., Ltd.

Amount of new policies(Note)

Annualized premiums of new policies

Amount of policies in force(Note)

Annualized premiums for policies in force

Items

1

2

3

4

Year ended	Year ended
March 31, 2023	March 31, 2024
14,566	12,928
271	269
232,499	224,655
4,405	4,356

	(Yen in 100 millions)
Change	Change ratio
(1,638)	(11.2)	%
(2)	(0.8)	%
(7,844)	(3.4)	%
(48)	(1.1)	%

Insurance premiums	5	4,871	4,737
Ordinary profit	6	278	491
Extraordinary income/(losses)	7	(13)	(15)
Net income	8	127	281

(Note) The figures represent the total sum of individual insurance and individual annuities.

(133)	(2.7)	%
212	76.2	%
(2)	-
154	121.5	%

2. Mitsui Sumitomo Primary Life Insurance Co., Ltd.

					(Yen in 100 millions)
	Items	Year ended	Year ended	Change	Change ratio
	March 31, 2023	March 31, 2024
Amount of new policies(Note)	1	12,798	14,370	1,572	12.3	%
Amount of policies in force(Note)	2	69,322	79,057	9,735	14.0	%
Insurance premiums	3	12,204	13,535	1,331	10.9	%
Ordinary profit/(loss)	4	310	(269)	(579)	(186.9)	%
Extraordinary income/(losses)	5	(41)	540	582	-
Net income	6	197	196	(0)	(0.3)	%

(Note) The figures represent the total sum of individual insurance and individual annuities.

3	MS&AD Insurance Group Holdings,Inc.

(4) Business Results of Overseas Insurance Subsidiaries

					(Yen in 100 millions)
	Items	Year ended	Year ended	Change	Change ratio
	March 31, 2023	March 31, 2024
					%
Net premiums written	1	9,329	12,336	3,007	32.2
Asia	2	2,214	2,494	280	12.6
Europe	3	6,448	8,824	2,375	36.8
Americas	4	665	1,017	351	52.8
Net income attributable to owners of the parent	5	665	1,538	872	131.0
Asia	6	312	452	140	44.9
Europe	7	314	901	587	186.6
Americas	8	35	47	11	32.3
International life insurance	9	2	136	133	-

(Note) Overseas consolidated subsidiaries and overseas equity method associates have adopted International Financial Reporting Standards (IFRS)17 "Insurance Contracts" from the beginning of the year ended March 31, 2024, since these entities have been already adopted IFRS.

The figures for the year ended March 31, 2023 are presented on IFRS 17 basis retrospectively.

4	MS&AD Insurance Group Holdings,Inc.

2. Non-Consolidated Business Results of Mitsui Sumitomo Insurance Co., Ltd.

1. Business Results

1. Net premiums written (-) Net claims paid

(-) Loss adjustment expenses

(-) Commissions and collection expenses Operating expenses and general and

(-) administrative expenses for underwriting Underwriting profit before movements in reserves

(-) Movement in outstanding claims

(-) Movement in ordinary underwriting reserves

1. Other
   Underwriting profit before movement in catastrophe reserve

(-) Movement in catastrophe reserve Underwriting profit/(loss)

1. Interest and dividends income

Transfer of investment income on deposit (-) premiums from policyholders

Net interest and dividends income (item 13 - item 14)

1. Gains/(losses) on sales of securities (-) Impairment losses on securities

1. Other Investment profit

1. Other ordinary profit/(loss) Ordinary profit

1. Extraordinary income/(losses):

Gains/(losses) on reserve for price fluctuation Income before income taxes

(-) Income taxes Net income

Net loss ratio	Note 1
Net expense ratio	Note 2
Ratios Combined ratio	Note 3
Interest and dividends income yield
Investment profit yield	Note 4
Incurred losses (including loss adjustment expenses)	Note 5, 6
EI loss ratio	Note 5, 7

						(Yen in 100 millions)
Items	Year ended		Year ended		Change	Change ratio
March 31, 2023		March 31, 2024
						%
1	16,298		16,233		(65)	(0.4)
2	9,445		9,501		55	0.6
3	1,035		1,143		108	10.5
4	3,083		3,018		(64)	(2.1)
5	2,212		2,281		69	3.1
6	521		287		(234)	(44.9)
7	505		765		259	51.4
8	313		(406)		(719)	(229.6)
9	104		119		14	13.8
10	(192)		47		239	-
11	(33)		(159)		(126)	-
12	(159)		207		366	-
13	1,349		1,547		197	14.6
14	255		253		(1)	(0.7)
15	1,094		1,294		199	18.2
16	913		989		75	8.3
17	261		245		(15)	(5.9)
18	(89)		12		101	-
19	1,657		2,049		392	23.7
20	(85)		(113)		(27)	-
21	1,412		2,143		730	51.8
22	1		69		67	3,426.1
23	(42)		(43)		(1)	-
24	1,414		2,212		798	56.5
25	335		534		199	59.6
26	1,078		1,677		598	55.5
27	64.3	%	65.6	%	1.3	%
28	32.5	%	32.7	%	0.2	%
29	96.8	%	98.3	%	1.5	%
30	2.56	%	3.01	%	0.45	%
31	3.79	%	4.66	%	0.87	%
32	9,858		10,253		394	4.0
33	67.1	%	67.6	%	0.5	%

(Notes) 1. Net loss ratio = (net claims paid + loss adjustment expenses) / net premiums written x 100

1. Net expense ratio = (commissions and collection expenses + operating expenses and general and administrative expenses for underwriting) / net premiums written x 100
2. Combined ratio = net loss ratio + net expense ratio
3. Total investment yield (including unrealized gains and losses): 0.25% for the year ended March 31, 2023, and 17.48% for the year ended March 31, 2024
4. The calculation is exclusive of residential earthquake insurance and CALI.
5. Incurred losses (including loss adjustment expenses) = net claims paid + loss adjustment expenses + movement in outstanding claims
6. EI loss ratio = incurred losses (including loss adjustment expenses) / earned premiums x 100
   Earned premiums are calculated based on unearned premiums (excluding underwriting reserves for natural disasters), premium reserve, etc.

5	MS&AD Insurance Group Holdings,Inc.

(Yen in 100 millions)

Year ended March 31, 2024

Amount Change Change ratio

%

Mitsui Sumitomo Insurance Co., Ltd. (Non-consolidated)

(2) Premiums written

		Net premiums written
	Year ended	Year ended
	March 31, 2023	March 31, 2024
	Amount	Change ratio	Amount	Change ratio
		%		%
Fire and allied	2,660	12.4	2,505	(5.8)
Marine	760	22.0	734	(3.4)
Personal accident	1,518	2.1	1,586	4.5
Voluntary automobile	6,885	(0.0)	6,983	1.4
CALI	1,421	(2.3)	1,302	(8.3)
Other	3,052	2.6	3,119	2.2
Total	16,298	3.2	16,233	(0.4)

(Yen in 100 millions)

Direct premiums written (excluding deposit premiums from policyholders)

Year ended
March 31, 2023	March 31, 2024
Amount	Change ratio	Amount	Change ratio
	%		%
3,784	8.8	3,676	(2.8)
1,088	20.1	1,098	1.0
1,625	6.5	1,713	5.5
6,954	(0.1)	7,038	1.2
1,324	(0.2)	1,163	(12.2)
3,698	2.6	3,783	2.3
18,474	3.8	18,475	0.0

(3) Net claims paid

						(Yen in 100 millions)
	Year ended March 31, 2023		Year ended March 31, 2024
	Amount	Change ratio	Net loss ratio	Amount	Change ratio	Net loss ratio	Change
		%	%		%	%	%
Fire and allied	1,993	38.9	77.3	1,735	(13.0)	72.1	(5.2)
Marine	349	10.2	48.3	392	12.2	56.2	7.9
Personal accident	826	21.9	59.4	795	(3.7)	55.6	(3.8)
Voluntary automobile	3,674	13.0	63.5	3,931	7.0	67.2	3.7
CALI	995	(7.3)	78.3	1,039	4.4	89.4	11.1
Other	1,605	3.0	54.8	1,607	0.2	54.2	(0.6)
Total	9,445	13.6	64.3	9,501	0.6	65.6	1.3
(Note) Net loss ratio = (net claims paid + loss adjustment expenses) / net premiums written x 100

(Reference) Incurred losses caused by natural disasters in Japan		(Yen in 100 millions)
		Year ended March 31, 2023	Year ended March 31, 2024
		Incurred losses	Net claims paid	Outstanding	Incurred losses Net claims paid	Outstanding
				claims			claims
Fire and allied		361	322	38	342	261	80
Voluntary automobile		122	143	(20)	209	171	37
Other		28	25	2	61	24	37
Total		512	491	20	613	457	155
(Note) The above table describes losses caused by natural disasters in Japan, which
during the respective period.
(4) Expenses
						(Yen in 100 millions)
	Items	Year ended March 31, 2023	Year ended March 31, 2024
	Amount	Change	Change ratio	Amount	Change	Change ratio
				%			%
Personnel expenses	1	1,495	(59)	(3.8)	1,548	53	3.5
Non-personnel expenses	2	1,767	108	6.5	1,937	170	9.7
Taxes and contributions	3	140	3	2.9	146	5	4.1
Total	4	3,402	53	1.6	3,632	229	6.7

(Note) Total = loss adjustment expenses + operating expenses and general and administrative expenses

Operating expenses and general and administrative expenses Commissions and

collection expenses

Total

Net expense ratio

Items	Year ended March 31, 2023
Amount		Change	Change ratio
				%
5	2,212		10	0.5	2,281		69	3.1
6	3,083		77	2.6	3,018		(64)	(2.1)
7	5,295		88	1.7	5,300		4	0.1
8	32.5	%	(0.5) %		32.7	%	0.2	%

6	MS&AD Insurance Group Holdings,Inc.

Mitsui Sumitomo Insurance Co., Ltd. (Non-consolidated)

(5) Outstanding claims

			(Yen in 100 millions)
	March 31, 2023	March 31, 2024
	Balance		Balance
		Movement		Movement
Fire and allied	1,555	(78)	1,781	225
Marine	342	73	340	(2)
Personal accident	533	33	581	47
Voluntary automobile	2,413	(18)	2,583	170
CALI	412	2	406	(6)
Other	2,417	492	2,748	331
Total	7,676	505	8,442	765

(6) Incurred losses (including loss adjustment expenses) and	EI loss ratio
					(Yen in 100 millions)
	Year ended		Year ended
	March 31, 2023		March 31, 2024
	Incurred losses		Incurred losses
	(including loss	EI loss ratio	(including loss	Change	EI loss ratio	Change
	adjustment	adjustment
	expenses)		expenses)
		%			%	%
Fire and allied	1,964	76.6	2,032	68	72.7	(3.9)
Marine	441	58.8	409	(31)	55.5	(3.3)
Personal accident	935	63.7	929	(6)	58.6	(5.1)
Voluntary automobile	4,351	63.2	4,860	508	70.0	6.8
Other	2,166	71.6	2,021	(145)	65.3	(6.3)
Total	9,858	67.1	10,253	394	67.6	0.5

(Notes) 1. The calculation is exclusive of residential earthquake insurance and CALI.

1. 1. Incurred losses (including loss adjustment expenses) = net claims paid + loss adjustment expenses + movement in outstanding claims
   2. EI loss ratio = incurred losses (including loss adjustment expenses) / earned premiums x 100
      Earned premiums are calculated based on unearned premiums (excluding underwriting reserves for natural disasters), premium reserve, etc.
2. Underwriting reserves

						(Yen in 100 millions)
				March 31, 2024
		Total underwriting	Ordinary	Reserve for refunds	Catastrophe
		underwriting	and dividends to	Contingency reserve
		reserves	reserve
		reserves	policyholders
Fire and allied	Balance	7,486	6,481	77	921	5
Movement	(456)	(319)	(47)	(92)	2
Marine	Balance	1,291	392	-	898	-
Movement	26	(14)	-	41	-
Personal accident	Balance	8,598	519	7,185	884	8
Movement	(559)	0	(614)	48	4
Voluntary automobile	Balance	3,263	2,086	-	1,176	0
Movement	(192)	43	-	(235)	0
CALI	Balance	2,704	2,704	-	-	-
Movement	(134)	(134)	-	-	-
Other	Balance	5,329	2,958	226	2,142	2
Movement	70	18	(26)	77	1
Total	Balance	28,673	15,143	7,490	6,023	16
Movement	(1,246)	(406)	(688)	(159)	8

(Notes) Reserves for residential earthquake insurance and CALI are included in ordinary underwriting reserves.

7	MS&AD Insurance Group Holdings,Inc.

Mitsui Sumitomo Insurance Co., Ltd. (Non-consolidated)

(8) Catastrophe reserve

					(Yen in 100 millions)
	March 31, 2023		March 31, 2024
	Balance	Reserve ratio	Reversal	Provision	Balance	Reserve ratio
		%				%
Fire and allied	1,013	38.1	472	379	921	36.8
Marine	857	112.7	-	41	898	122.3
Personal accident	835	55.0	1	50	884	55.8
Voluntary automobile	1,412	20.5	459	223	1,176	16.9
Other	2,064	67.6	51	129	2,142	68.7
Total	6,183	41.6	984	824	6,023	40.3
(Note) Reserve ratio = catastrophe reserve / net premiums written (excluding

(9) Investment assets

			(Yen in 100 millions)
	March 31, 2023	March 31, 2024	Change
Cash, deposits and savings	6,253	5,722	(530)
Investments in securities:	52,885	62,664	9,778
Domestic bonds	12,175	11,750	(424)
Domestic stocks	17,856	26,003	8,147
Foreign securities	21,662	23,320	1,657
Other securities	1,191	1,589	398
Loans	4,035	3,907	(127)
Land and buildings	1,868	1,781	(87)
Total	65,043	74,076	9,032
(Reference)
Long-term investment assets	8,175	7,487	(687)

(Reference) Breakdown of domestic bonds

			(Yen in 100 millions)
	March 31, 2023	March 31, 2024	Change
Government bonds	6,057	5,732	(324)
Municipal bonds	776	754	(21)
Corporate bonds:	5,341	5,263	(78)
Government agency bonds	532	448	(84)
Specific financial institution bonds	8	7	(0)
Other corporate bonds	4,801	4,806	5
Total	12,175	11,750	(424)

(10) Breakdown of interest and dividends income

			(Yen in 100 millions)
	Year ended	Year ended
	March 31, 2023	March 31, 2024	Change
Investments in securities:	1,250	1,430	179
Domestic bonds	137	134	(3)
Domestic stocks	551	632	81
Foreign securities	523	559	35
Other securities	38	104	65
Loans	23	28	4
Land and buildings	62	58	(4)
Other	12	30	17
Total	1,349	1,547	197

8	MS&AD Insurance Group Holdings,Inc.