Press Release
Appendix
Medium-Term Strategic Business Plan "MS WAVE II" for Fiscal 2003
and Fiscal 2004
Mitsui Sumitomo Insurance and its other Group companies: Goals and strategic objectives on the second stage

Realize "No. 1 position in total corporate Group power" by concentrating the expertise of all Group staff
Non-life insurance business
Life insurance business
Overseas business

Financial services business
Risk-related business
  • Move to "diversify revenue sources" and "push up profits"

  • Achieve "No. 1 position in growth and profitability" and "No. 1 position in corporate quality"

No. 1 in growth and profitability - five objective benchmarks and their tactics
1.No. 1 in increasing the ratio of net premiums written from domestic non-life insurance
  • Reinforce retail marketing and beef up net premiums, market share, and number of customers
  • Put top priority on flagship "MVP" products and new third-sector insurance products
  • Establish a brand highly regarded by customers for claims handling services
2.No. 2 in consolidated net premiums written from non-life insurance underwritings, including those from overseas
Overseas business strategy
  • Firmer foothold as No. 1 among Japanese peers in Asian markets
  • Accelerating income improvement of our U.S.-related business Reinsurance strategy
  • Pursue optimal retention and reinsurance policy Groupwide
  • Increase overseas reinsurance income of our reinsurance subsidiaries
3.No. 2 in the amount of life insurance in force among subsidiaries of non-life insurers
  • Raise profits at MS Kirameki and MSICiti to contribute to consolidated income growth
4.No. 1 in our combined ratio (loss ratio + expense ratio)
  • Cut costs and expenses and lower the loss ratio to raise competitiveness
5.No. 1 in the rate of investment return
  • Strengthen investment skills to strive to continue extending exceptional top position beyond a seventh straight year

Further strengthening of Group business
  • In financial services, develop a business model based on our high credit rating and advanced financial technology applications
  • In risk-related business, expand risk management, long-term and medical care services, emergency assistance, and appraisals with synergy effects in collaboration within the Group

No. 1 in corporate quality - Maintaining our best quality services and strong business foothold for customers, shareholders, and society
1.Pursuit of best quality services
  • Strive for being No. 1 in CS and offer customers best quality services
  • Train creative and enthusiastic employees into becoming No. 1 staff

2.Greater corporate strength and firmer business foothold
  • Emphasize corporate ethics and consciousness concerning any corporate activities as well as ensure risk control and compliance procedures
  • Retain capital adequacy and enhance capital efficiency
  • Establish management system for further effective corporate governance
  • Step up social contribution and environmental protection

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