Tokio Marine has reported a net profit of ¥181.8 billion ($2.26 billion) for the nine months to December 31, down about 15% on the corresponding period in 2014.

Investment income fell 33.7% to ¥377.36 billion ($4.7 billion), while the combined operating ratio improved to 90.6% from 92.4%.

The Japanese insurer says slow growth in the global economy is to blame for its results.

Ordinary income grew by ¥100 billion ($1.24 billion) to ¥3.34 trillion ($41.6 billion), with underwriting income at ¥2.89 trillion ($35.9 billion).

Net written premium for the nine months grew 7.7% to ¥2.49 billion ($31.02 million).