Mitsui Sumitomo Insurance Group Holdings, Inc. | |
Native Name: | 三井住友海上グループホールディングス株式会社 |
Type: | Public (K.K) |
Fate: | Merged |
Successor: | MS&AD Insurance Group |
Foundation: | October 21, 1918 (as Taishō Marine and Fire Insurance Co.) October 2001 (merger of Mitsui Marine & Fire Insurance Co. and The Sumitomo Marine & Fire Insurance) |
Location: | Tokyo, Japan |
Key People: | Yoshiaki Shin, Chairman Toshiaki Egashira, President |
Area Served: | Worldwide |
Num Employees: | 20,237 (2008) |
Industry: | Insurance |
Revenue: | JP¥ 2,137,603 million (FY 2007) |
Net Income: | JP¥ 40,027 million (FY 2007) |
Subsid: | Ceylinco Insurance (15%)[1] |
is a Japanese insurance holding company headquartered in Tokyo, Japan.
MSIG was formed in 2001 from the merger of Mitsui Marine & Fire Insurance Co. (itself descended from the Taishō Marine and Fire Insurance Co. founded in 1918) and The Sumitomo Marine & Fire Insurance. In 2010, April Aioi Insurance Co., Ltd., Nissay Dowa General Insurance Co., Ltd., merged into MSIG, making the group's name changed in to MS&AD Insurance Group Holdings, Inc.. According to this business integration, MS&AD has become the largest property insurance company in Japan, with market share of 33% in 2013.[2]
On 8 September 2015, it was announced that Mitsui Sumitomo had agreed to buy the UK insurance firm Amlin for £3.5bn.[3]