Reinsurance News
MS&AD Insurance
MS&AD could close overseas locations in profit drive, CEO suggests
28th February 2023
Reports from the Nikkei suggest that Japan’s MS&AD Insurance Group could be looking into closing some of its overseas locations in an effort to improve profitability across the group and meet its performance goals. Speaking in an interview with Nikkei, MS&AD's President and CEO Noriyuki Hara explained that some areas of ... Read the full article
MS&AD Ventures increases fund by $100mn to $300mn
30th December 2022
MS&AD Ventures, the Silicon Valley-based fund owned by MS&AD Insurance Group Holdings, has increased its fund size by $100 million, bringing the total amount of funds under management to $300 million. Since its establishment in October 2018 as the first CVC of a Japanese insurance company, MS&AD Ventures has invested in ... Read the full article
Mitsui Sumitomo reported on verge of $400m Transverse acquisition
7th August 2022
Japanese insurance group Mitsui Sumitomo has been reported to be on the verge of a $400 million acquisition of hybrid P&C program and fronting carrier specialist Transverse Insurance Group. Japanese newspaper the Nikkei reported the news and said a deal for the rumoured roughly $400 million acquisition could be announced before ... Read the full article
MS&AD targets US with $4.5bn war chest: reports
7th April 2021
Mitsui Sumitomo Insurance, part of MS&AD Insurance Group Holdings, intends to spend as much as USD 4.5 billion (500bn yen) on mergers and acquisitions (M&A) through 2023, with a focus on the North American market, reports Nikkei. It's understood by Nikkei that the Japanese insurer is eager to diversify its portfolio ... Read the full article
Fitch Ratings expects fewer COVID-19 related claims
26th November 2020
A recent report from Fitch Ratings shows the rating agency is expecting Tokio Marine Holdings, MS&AD Insurance Group Holdings and SOMPO Holdings to reserve fewer COVID-19 related claims. This is due to their overseas subsidiaries tightening underwriting and narrowing policy wording in regards to any event cancellation and business interruption. Major European ... Read the full article
MS&AD and Challenger announce US dollar annuity reinsurance deal
28th June 2019
MS&AD Insurance Group Holdings, Inc. has expanded its strategic relationship with Australian life & annuities specialist Challenger through a quota share reinsurance arrangement of US dollar denominated annuities. Challenger has announced that it's received all necessary regulatory approvals and has implemented the operational requirements in order to commence US dollar annuity ... Read the full article
MS&AD enters reinsurance agreement with carriers in Kenya and Mozambique
4th July 2018
Mitsui Sumitomo Insurance Co. (MSI), a member of MS&AD Insurance Group Holdings, has announced that its subsidiary, MSI Company (Europe) (MSIEU), has concluded its strategic alliance agreements to provide reinsurance capacity for ICEA Lion General Insurance Company in Kenya and International Commercial and Engineering Seguros (ICE) in Mozambique. As part of ... Read the full article
Mitsui Sumitomo enters Chinese life market with BoCommLife stake
23rd May 2018
MS&AD Insurance Group Holdings, Inc. subsidiary, Mitsui Sumitomo Insurance Company (MSI), Limited, has signed an agreement to acquire Colonial Mutual Life Assurance Society Limited's (CMLA) 37.5% stake in Chinese life insurer, BoCommLife Insurance Company Limited. CMLA, a subsidiary of the Commonwealth Bank of Australia, is to sell its 37.5% stake in ... Read the full article
MS&AD injects £505m into Swiss Re’s closed life consolidator ReAssure
24th January 2018
Japanese insurance holding company MS&AD Insurance Group Holdings Inc (MS&AD) has made its first investment commitments to buy in global reinsurance firm Swiss Re's UK closed life book consolidator ReAssure. A deal was announced in October that would see MS&AD making investments into the equity of ReAssure, across up to a ... Read the full article
MS&AD Insurance Group reveals post-Brexit shift to Luxembourg
1st November 2017
MS&AD Insurance Group Japanese subsidiary Aioi Nissay Dowa Insurance, (ADI), has revealed plans to restructure the firm's Europe operations, opening a new UK branch and shifting business to Luxembourg to ensure post-Brexit continuity of its European automobile insurance-centred business. UK - based subsidiary Aioi Nissay Dowa Insurance Company of Europe (ADE), the European subsidiary ... Read the full article
Hurricanes & quakes drive costly year for Japanese insurers
24th October 2017
Japanese insurers Tokio Marine Holdings, MS&AD Insurance Group Holdings, Inc, and Sompo Holdings are estimating a combined payout of almost $2.5 billion in claims related to hurricanes Harvey, Irma and Maria, and the Mexico earthquakes. The events make it one of the costliest year's for Japanese insurers since the Thai floods in 2011, ... Read the full article
MS&AD forecasts up to $975m Q3 catastrophe loss
6th October 2017
MS&AD Insurance Group Holdings, Inc., the parent of a range of re/insurers including Mitsui Sumitomo and MS Amlin, expects its losses from third-quarter hurricanes and earthquakes could reach as much as $975 million. MS&AD gives a significant range in possible group losses, from around 70 billion yen ($620m) to 110 billion ... Read the full article
Swiss Re takes £800m MS&AD investment into ReAssure, its closed life consolidator
6th October 2017
Global reinsurance giant Swiss Re is set to take an £800 million investment from Japanese insurance holding company MS&AD Insurance Group Holdings Inc (MS&AD) into ReAssure, its UK closed life book consolidator. MS&AD will purchase a 5% stake in ReAssure for £175 million, through an investment in ReAssure Jersey One Limited, ... Read the full article
MS&AD Insurance buys stake in Australian life & annuities firm Challenger
16th August 2017
Japanese insurance group MS&AD Insurance Holdings, the parent of the Mitsui Sumitomo insurance entities, has bought a stake in an Australian life and annuities specialist as it looks for further diversification. Japanese insurance groups have been investing in operations around the globe as they look to diversify their businesses away from ... Read the full article
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