Mitsui Sumitomo Insurance Co. News

Japanese Lunar Exploration Firm ispace Raises $28M and Inspires Moon Insurance

The Japanese lunar exploration firm, ispace, which is developing spacecraft to carry people to the moon, just raised $28 million from the four organizations for its Series B investment round. The firm, which aspires to be a “gateway for the …

MS Amlin to Exit U.K. P/C Classes as Part of Underwriting Review

MS Amlin, the London-based re/insurer, said it will cease underwriting corporate property, real estate, casualty and package binders through its U.K. P/C business with effect from Jan. 31, 2020. This announcement follows the outcome of MS Amlin’s comprehensive underwriting review …

MS Amlin Launches New Operating Model and Senior Leadership Team

MS Amlin, the London-based re/insurer, announced a new operating model and senior leadership team in response to the recent decision by its parent company, MS&AD, to reorganize its international businesses. This reorganization involves the removal of the regional holding company …

Mitsui Sumitomo Insurance’s Rating Unchanged with Reorganization: AM Best

The financial and credit ratings of Mitsui Sumitomo Insurance Co. (MSI) remain unchanged following an announcement by its parent company, MS&AD Insurance Group Holdings (MS&AD), that it plans to reorganize its international businesses operating within MSI, said AM Best. Under …

MSIG Hong Kong Appoints Kent as CEO as Reid Retires

MSIG Hong Kong announced the appointment of Philip Kent to the role of chief executive officer. He succeeds Kenneth J. Reid, who has retired after 26 years with MSIG Hong Kong. Kent most recently served as executive vice president of …

Mitsui Sumitomo Buys Singapore’s First Capital Insurance from Fairfax for $1.6B

Mitsui Sumitomo Insurance Company (MSI) is acquiring Singapore’s First Capital Insurance for $1.6 billion from Canada’s Fairfax Financial Holdings, in the biggest takeover by a Japanese insurer in populous Southeast Asia – a key target region for global players. Starved …

Mitsui Sumitomo Marine Management, Air Centurion to Cover Aviation & Aerospace Risks

Mitsui Sumitomo Marine Management, Inc. (MSMM) and MS Amlin plc, its sister company, have formed a new partnership with Air Centurion to write the U.S.-based aviation and aerospace accounts for Mitsui Sumitomo Insurance Company of America, complimenting a portfolio written …

Amlin Deal Puts M&A Spotlight on 4 Remaining Publicly Traded Lloyd’s Insurers

Amlin Plc’s $5.3 billion takeover by a Japanese competitor has put the remaining four publicly traded Lloyd’s of London insurers in the spotlight for a possible takeover. Beazley Plc, Hiscox Ltd., Lancashire Holdings Ltd. and Novae Group Plc all rallied …