MS&AD Insurance Group Holdings subsidiary, Mitsui Sumitomo Insurance Co. (MSI), has expanded its presence in Russia with the formation of a new strategic alliance with Russian non-life insurer, Ingosstrakh Insurance Company.
Under the new partnership, MSI will have access to Ingosstrakh’s network, which includes 83 branches across Russia and its offices in six countries of the Commonwealth of Independent States (CIS).
The Russian insurer is to establish the “MSI Japan Desk,” a team that will be focused on MSI’s Japanese customers, with MSI dispatching representatives to the Japan Desk.
The new strategic alliance also sees MSI provide reinsurance support for Ingosstrakh, as well as share experience and knowledge in underwriting and customer service for Japanese clients.
According an announcement, the partnership contributes to the development of higher quality services for Japanese firms, with the number of these anticipated to rise in the future in line with the ongoing strengthening and development of Japan-Russia economic ties.
MSI launched representative offices in Moscow and St. Petersburg in 2005, and this alliance is expected to enable MSI staff to directly provide Japanese clients with improved insurance services, such as underwriting know-how, claims support, and also risk management.
Having access to the Russian insurer’s network also enables MSI to offer services much closer to the locations of other clients, including Siberia, the Far East, and also CIS countries.
