Tokio Marine has raised its net profit guidance by 5.7% to ¥280 billion ($3.31 billion) for the year to March 31, after a strong half-year performance.

Net profit in the six months to September 30 increased 81.4% to ¥155.3 billion ($1.84 billion) amid a drive to grow the general and life businesses.

Improved domestic consumer spending also lifted earnings, the Japanese insurer says.

Half-year underwriting income grew to ¥2.23 trillion ($26.37 billion) from ¥1.95 trillion ($23.06 billion) in the corresponding period last year, while underwriting expenses increased to ¥1.86 trillion ($22 billion) from ¥1.7 trillion ($20.12 billion).

Investment income increased to ¥308 billion ($3.65 billion) from ¥244.23 billion ($2.89 billion).

Tokio Marine’s insurance business includes Tokio Marine & Nichido Fire Insurance, Nisshin Fire & Marine Insurance, E.design Insurance, and Tokio Marine & Nichido Life Insurance.

It also has significant business overseas, especially in North America.

The Japanese insurer’s overseas subsidiaries made a collective net profit of ¥58.75 billion ($695.57 million) in the half, up 7.8%. It gave no individual breakdown.