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February 10, 2016 2:58 AM ET

Insurance

Company Overview of Mitsui Sumitomo Insurance Co., Ltd.

Company Overview

Mitsui Sumitomo Insurance Co., Ltd. provides insurance products and services to clients in Europe, the Middle East, Africa, Asia, Oceania, and the Americas. It offers marine, voluntary automobile, fire and allied, personal accident, compulsory automobile liability, and other insurance solutions. The company was founded in 1918 and is based in Tokyo, Japan with an additional office in Johannesburg, South Africa. Mitsui Sumitomo Insurance Co., Ltd. operates as a subsidiary of MS&AD Insurance Group Holdings, Inc.

9, Kanda-Surugadai

3Chome

Chiyoda-ku

Tokyo,  101-8011

Japan

Founded in 1918

14,859 Employees

Phone:

81 3 3297 1111

Fax:

81 3 3297 6888

Key Executives for Mitsui Sumitomo Insurance Co., Ltd.

Chief Executive Officer, President and Representative Director
Age: 65
Chairman and Chairman Executive Officer
Age: 67
Vice President Executive Officer and Director
Age: 63
Senior Executive Officer and Director
Age: 62
Vice President Executive Officer and Director
Compensation as of Fiscal Year 2015.

Mitsui Sumitomo Insurance Co., Ltd. Key Developments

Mitsui Sumitomo Insurance Co. and Aioi Nissay Dowa Insurance Co. Launch Nonlife Insurance Product That Covers Risks from the Operation of Hydrogen Refueling Stations

Mitsui Sumitomo Insurance Co. and Aioi Nissay Dowa Insurance Co. announced that they have begun selling a jointly developed nonlife insurance product that covers risks from the operation of hydrogen refueling stations. The subsidiaries of MS&AD Insurance Group Holdings Inc. see the need for a product to prepare for a possible accident. The hydrogen station plan is intended to promote the use of fuel cell vehicles, which run on electricity generated by a chemical reaction between hydrogen and oxygen. The new insurance product covers costs for compensation to a third person incurring damage due to hydrogen station operations, as well as damage to facilities from such events as fires and explosions. Under an optional contract, the insurance also offers compensation for expenses relating to investigations into accident causes and costs for safety measures.

Mitsui Sumitomo Insurance Co., Ltd. Announces Executive Changes

Mitsui Sumitomo Insurance Co., Ltd. announced executive changes scheduled on April 1, 2016. Mr. Yasuyoshi Karasawa, Representative Director, President & CEO has been changed to the new position of Chairman & Representative Director, Chairman Executive Officer. Mr. Noriyuki Hara, Director, Vice President Executive Officer has been changed to the new position of Representative Director, President & CEO. Mr. Toshiaki Egashira, Chairman & Representative Director, Chairman Executive Officer has been changed to the new position of Director.

Mitsui Sumitomo Insurance Co., Ltd. Reports Non- Consolidated Earnings Results for the Six Months Ended September 30, 2015; Provides Earnings Guidance for the Year Ending March 31, 2016

Mitsui Sumitomo Insurance Co., Ltd. reported non- consolidated earnings results for the six months ended September 30, 2015. For the period, the company reported Net premiums written of ¥801,500 million against ¥729,100 million for the same period in the last year. Investment profit was ¥61,900 million against ¥44,300 million for the same period in the last year. Ordinary profit was ¥57,200 million against ¥71,200 million for the same period in the last year. Income before income tax was ¥55,300 million against ¥71,000 million for the same period in the last year. Net income was ¥44,800 million against ¥50,500 million for the same period in the last year. The company provided earnings guidance for the year ending March 31, 2016. For the period, the company expects net premium written will be ¥1,521,000 million, Ordinary profit will be ¥149,000 million, and net income will be ¥104,000 million.

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