International Business


Leveraging the expertise and trust it has accumulated during its history of more than 90 years of international operations, the MS&AD Insurance Group has established a global network in 46 countries and regions*1 to provide insurance products and services that meet diverse customer needs.
In February 2016, the Group welcomed MS Amlin plc, a company with a global insurance business centering on the Lloyd's insurance market in the United Kingdom. As one of the MS&AD Insurance Group's growth businesses, we aim to expand the international business further.

*1 Excluding SLI Cayman Limited (financial services business) in the Cayman Islands.

Characteristics of the International Business

The MS&AD Insurance Group's international business operations encompass two businesses-the International Non-Life Insurance Business (including the MS Amlin Business, the Toyota Retail Business including BIG Business, and the Head Office Reinsurance Business) and the Asian Life Insurance Business. Since commencing underwriting operations in Thailand in 1934, we have established a position as the largest insurance company in the ASEAN region along with a robust network.
Welcoming MS Amlin to the Group, the MS&AD Insurance Group now has a balanced portfolio spread across Asia, Europe and the Americas. Our balanced portfolio is expected to mitigate the impact of business slowdowns in specific regions and natural disasters.

1. International Non-Life Insurance Business

To make decisions and manage operations in accordance with local customs while rigorously complying with the laws, regulations and business conventions of each country and region, regional holding companies have been established in Singapore, the United Kingdom and the United States. Business is conducted based on the idea of being a good corporate citizen in each country and region. Especially in the high-potential Asia region, the Group has a top-level business foundation, having instilled the MSIG brand in the region. Through a variety of efforts including administrative support to the government and sharing of insurance technologies, the Group is contributing to economic growth in each country and region while also undertaking diverse activities to realize growth in its own business operations.

MS Amlin Business

As of December 31, 2016, we have completed the integration of the Lloyd's and Reinsurance businesses of Mitsui Sumitomo Insurance and MS Amlin, an insurance holding company with three core operations in the Lloyd's Business, the Reinsurance Business and the European Primary Insurance Business. We are seeking various synergies collaborating with existing international businesses in mainly Asia and the Americas in addition to the cost synergies from the business integration.

Toyota Retail Business (including BIG Business)

We leverage our strong partnership with the Toyota Group to develop the retail insurance business internationally. We currently have insurance underwriting operations in 17 countries and regions, including most European countries, as well as China, Thailand and Australia. In the BIG Business, the Group welcomed Box Innovation Group Limited in the United Kingdom in FY2015 and its core managing general agent Insure The Box Limited, which has telematics know-how. We expect synergies to be generated between the BIG Business and the Toyota Retail Business as business is developed in the United Kingdom, Continental Europe and the United States.

Head Office Reinsurance Business

The Head Office at Aioi Nissay Dowa Insurance has engaged in the overseas inward reinsurance business as a means of effectively utilizing capital. Beginning in FY2017, this business is included in the scope of the International Business from the standpoint of reinforcing overseas risk management alongside business expansion. We will engage in profit-focused underwriting for business partners with which we can maintain medium- and long-term relationships in both outward and inward reinsurance, and advance business while managing Group-wide risks.

2. Asian Life Insurance Business

We are investing in life insurance companies in countries where life insurance markets are projected to expand-such as Indonesia, India and Malaysia-with the aim of expanding sustainable profits. In Malaysia, we have also begun undertaking the “Takaful ” *2 business, which is expected to show strong growth in the future.

*2 A method of handling insurance business in accordance with Islamic doctrine. In Islam, receiving interest income from fund management activities and paying benefits with respect to accidents and diseases of which the incidence is unpredictable is seen as having an element of gambling. For these reasons, ordinary insurance is considered to be not in accordance with Islamic sharia law. In view of this, in countries with a high population of Muslims, there is a need to provide insurance products that are designed to accord with the requirements of sharia law, and “takaful ” can be said to be a form of Islamic insurance.

History of International Business Development

Picture:Changes in Group Core Profit

3. Summary of International Business

Picture:Net Premiums Written &Net Income

Business Strategy

The MS&AD Insurance Group's International Business aims to increase earnings by tapping into market growth based on diverse product and sales strategies that leverage its strengths in each business and region. As a growth driver for the Group, the International Business aggressively pursues investment projects and global partnership strategies that contribute to sustainable growth.

Picture:「Overseas non-life insurance business」「Asian Life Insurance Business」

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