Medium-term Management Plan
1. Basic Strategy of the Group
Win customer's trust and realize growth through quality improvement.
- •Make every operation customer focused and deliver to all variety of customers products and services of the highest quality.
- •Establish virtuous cycles and realize sustainable growth by injecting profits obtained from growth back into quality improvement.
Integrate all the power of the Group and pursue group synergies to enhance profitability even further.
- •Aim to enhance efficiencies and increase group profitability by pursuing synergies within the Group.
- •Revise all of the Group's operations from the perspective of maximizing performance of the Group, utilizing integration of operational processes and computer systems and development of shared services, and capitalize on economies of scale.
Allocate resources strategically to selected and focused areas, as well as secure soundness of business operations.
- •Allocate expanded corporate resources into important and growing areas and aim to make an efficient use of resources and to accelerate growth of the Group.
- •Secure the soundness of the entire Group, by conducting business operations in each group company with the soundness required in the insurance and financial service businesses and by establishing a Group-wide corporate governance structure with the core of the holding company.
Foster a corporate culture of challenging spirit as professionals and grow with employees and agencies.
- •Foster a corporate culture under which every single employee tackle challenges as a professional.
- •Create a group that its members are proud of and want to work for and in which employees and agencies can grow with the Group.
2. Business Domain and Individual Strategies
To grow as a group with business domains of domestic non-life insurance, domestic life insurance, overseas business, financial services, and risk-related services by expanding each of these businesses.
Domestic Non-life Insurance Business
Mitsui Sumitomo Insurance, Aioi Nissay Dowa Insurance, Mitsui Direct General Insurance
- •To develop and provide attractive products and services suitable for the various operational bases and customer bases.
- •To enhance sales capabilities by developing business models that can satisfy customers' needs in each market, and by concentrating resources in growing areas.
- •To improve quality of business processes and to create best practices by utilizing know-hows and infrastructures of Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance.
- •To reduce business expenses significantly and to improve efficiency by integrating operational processes and by consolidating offices for sales and claims handling.
- •To ensure profitability while simultaneously expanding business in the high-growth direct sales market.
Domestic Life Insurance Business
Mitsui Sumitomo Aioi Life Insurance, Mitsui Sumitomo Primary Life Insurance
- •To accelerate growth by providing customers with attractive products and services mainly through cross-selling as well as through other sales channels such as financial institutions, life insurance agencies, and direct sales on expanded operational bases.
- •To establish the Group's position as a leading company in the area of individual annuities business by providing products that meet customers' needs and by enhancing sales capabilities.
Overseas Business
- •To expand business actively in the Asian region through the Group's extensive operational bases and superiority.
- •To pursue expansion and profits in Europe by enhancing the Group's services structure, and to ensure solid profits in the Americas.
- •Active investment in new business in selected and focused strategic regions and areas.
- •To expand overseas reinsurance business.
Financial Services Business
- •To expand asset management business by enhancing the salability of products and sales capabilities.
- •To restructure a financial guarantee business in response to the structural changes in the financial market.
- •To actively promote 401k business that responds to both corporate and individual needs.
- •To expand ART (Alternative Risk Transfer) business, personal loan related business, and venture capital business.
Risk Related Services Business
- •To provide services other than insurance services, that contribute to customer's risk solutions. (Risk management business, nursing care business, asset valuation and appraisal business, and assistance business)
- •To promote new businesses in light of changes in the business environment.
3. Medium-Term Targets (Numerical Targets)
Target Business Portfolio
(unit: billion yen)
Fiscal year 2013 (Target) |
|
|---|---|
Profit Indicators for the group* |
150.0 |
Domestic non-life insurance |
100 (67%) |
Domestic life insurance |
15 (10%) |
Overseas business |
30 (20%) |
Financial services/Risk related service business |
5 (3%) |
The figures in the ( ) indicate breakdown.
Numerical Targets
(unit: billion yen)
Fiscal year 2013 (Target) |
|
|---|---|
Non-life consolidated net premiums written |
2,700 |
Life annualized premium in force*1 |
330 |
ROE based on Group Core Profit*2 |
7% |
- *1: The Annualized premium in force of Mitsui Sumitomo Aioi Life(excluding group insurance)
- *2: ROE based on Group Core Profit=Group Core Profit ÷ Consolidated shareholders'equity (excluding minority interest; average of starting and ending amounts)
*Profit Indicators for the group
Group's Core Profit = consolidated net income - net capital gains/losses on stock portfolio (gains/losses from sale, etc.) - net evaluation gains/losses on credit derivatives - other incidental factors + equity in earnings of the non-consolidated group companies
Noteworthy content
