The group aims to establish a system to offer the best products and services to customers by investing accumulated capital into growth areas such as international business, domestic life insurance business, and digital/risk-related services
Japanese major MS&AD Insurance Group Holdings on Friday announced the merger of two of its core non-life subsidiaries-Mitsui Sumitomo Insurance Co and and Aioi Nissay Dowa Insurance Co- to establish a largee non-life insurance company that holds the top market share in the domestic nonlife insurance sector.
According to the group, details such as the merger method, post-merger company name, and representatives will be announced once decided.
The target date for this merger is set for April 2027.
The group aims to enhance the value it provides to customers by integrating the strengths of Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance in the domestic non-life insurance business.
“We are committed to strengthening efforts to meet customer trust and expectations while consistently securing profits commensurate with the size of the top line,” said the group.
Furthermore, the group aims to establish a system to offer the best products and services to customers by investing accumulated capital into growth areas such as international business, domestic life insurance business, and digital/risk-related services,” said the group
“We will also focus on improving management efficiency, including IT system integration, and optimizing management resources such as human resources and facility network, with the aim of becoming a world-leading insurance and financial group,” said the company.
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