The MS&AD Insurance Group was founded in 2010 with the mission to "contribute to the development of a vibrant society and help secure a sound future for the planet, by enabling safety and peace of mind through our global insurance and financial services businesses." To realize this mission, we have established our 2030 vision to become a corporate group that supports a resilient and sustainable society, and have achieved steady growth while prioritizing our relationship with the communities we serve.
In our view, a resilient and sustainable society is one that can minimize the impact of unexpected events, adapt to new environments, and continuously rebuild and develop. This also involves maintaining a balance among the economy, the environment, and society, ensuring that the global environment and social systems can be sustained well into the future. Guided by our management principle of Creating Shared Value (CSV), our Group aims to reach a new stage of growth in collaboration with society, addressing social issues such as climate change.
Turning to social conditions, global inflation has peaked and monetary policy has been shifted from a tightening phase. However global economic growth has been damaged by factors such as turmoil in financial markets, resurgent inflation, and heightened geopolitical risks due to escalating conflicts in various regions. Meanwhile, the rise in the frequency and severity of natural catastrophes caused by global warming is having a severe impact on people’s lives and business operations.
In this era of uncertainty, we believe our role is not only to provide compensation for economic losses but also to contribute to social infrastructure by offering services such as disaster prevention and mitigation. Concurrently, we will also swiftly transform our operations, viewing this as a major turning point in our business.
In Stage 2 of our Medium-Term Management Plan (2022-2025), which began in 2024, we are earnestly addressing the issues of price-fixing and our agents’ fraudulent insurance claims. We will undertake a comprehensive review of our business practices to make every effort to restore customer trust. Additionally, we will promote a comprehensive transformation of our business style through three key reforms: transformation of value provision, transformation of business structure, and transformation of productivity and profitability. Building on this foundation, we aim to innovate our products and services to offer new value both before and after compensation, invest in growth areas and digital and human assets, promote operational efficiency and quality improvement, and evolve into a risk solution platform provider that transcends the traditional insurance framework.
The MS&AD Insurance Group will continue to work with our stakeholders to help realize a society that is resilient and sustainable by creating shared value with society. We look forward to your continued support.
June 2024
Shinichiro Funabiki
President & CEO
