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Press Release
[English Translation] February 28, 2006

A New Framework for Overseas Business under Regional Holding Companies

1.Outline
Mitsui Sumitomo Insurance Co., Ltd. (President: Hiroyuki Uemura) is pleased to announce that it will adopt a three-region holding company framework, step by step starting in April, subject to approval by the authorities in each country and region.
The basic structure under this framework is to place the subsidiaries and other entities under the management of the three-region holding companies which are to be established in Asia (Singapore) and Europe (London), whilst utilizing an existing holding company in America (New York)
* At this moment, the to-be holding company has been established in Asia (Singapore) and is under preparation in Europe (London)
We will also delegate large authority and responsibility to these regional holding companies, thereby realizing prompt decision-making and execution. Some countries and regions, such as China, will continue to be managed directly by our Tokyo Head Office, due to strategic and other reasons.

2.Background
"Challenge 10", our mid-term corporate plan for the year 2010, aims at a group profit of more than JPY100 billion (approx. US$850 million), out of which more than 20% should be generated by our overseas business. For several years, our company has been expanding its business aggressively in these three regions. Especially in Asia, where many profit opportunities are considered to exist, we have been successful in making large acquisitions, like Aviva Asia (non-life business) and Mingtai of Taiwan. This new framework, with a fundamental change in structure, is intended to improve our corporate values, as well as to make management better and more efficient in order to handle the expanded business portfolio.

In our overseas business, we have more local clients than in the past, in addition to our traditional Japanese clients. In fact, our group employees are mostly national staff; 5,540 out of the total number of 5,700 employees outside Japan. With this background, we are convinced that we can further develop our overseas business by enhancing governance, with prompt decision-making and hybrid management by national staff and expatriate staff from Japan.

By introducing this new framework, we have set up a good infrastructure by which we can take advantage of our management resources, such as human resources and IT, which are gained through acquisition of Aviva Asia (non-life business), Lloyd’s and other business expansion in Europe, and drawing upon the know-how of holding companies in the U.S.

3.Business Summary by Region
(By 2006 Plan; Includes countries and regions that are not under regional holding companies and does not include reinsurance business)
  Asia Europe America Total
Number of Employees 4,769 286 653 5,708
Number of Offices 182 15 31 228
Gross Premium(US$) 1,197million 582million 389million 2,168million

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