Press Releases
Chinese Operations Significantly Boosted
January 19, 2011
Mitsui Sumitomo Insurance Co., Ltd.
On January 13, 2011, operations at the Jiangsu Branch of Mitsui Sumitomo Insurance (China) Company, Limited (hereinafter: "MSI (China)"), the local corporation of Mitsui Sumitomo Insurance Company, Limited (President: Yasuyoshi Karasawa) were formally launched. As of January 14, the company obtained a permit to launch operations at its Shenzhen Marketing Service Department (Guangdong Branch), the corporate structure of which is the first among Japanese non-life insurers in China.Operations are scheduled to commence at the end of January.
Consequently, the company's Chinese network will expand from three offices to five and the company will become the Japanese non-life insurer with the most networks in China. A further application is currently pending to commence operations at the Suzhou Marketing Service Department, which will be managed by the Jiangsu Branch. In spring this year, company operations are scheduled to expand and comprise six offices.
As a result of these changes, operations for the entire Group will increase from five offices to eight (incl. Aioi Nissay Dowa's local corporation in China (headquarters: Tianjin) and the Zhejiang Branch (preparations to establish the branch are currently underway)).
By significantly boosting its operations, the Group will be able to offer even more comprehensive, higher quality customer service going forward.
1.Outline of New Branches and Marketing Service Department
Local Corporation in China: Jiangsu Branch
| Name | : | Mitsui Sumitomo Insurance (China) Company, Limited (Jiangsu Branch) |
| Launched | : | January 13, 2011 |
| Branch office | : | Room 1001-1004, Building C, Wangzhuang Technology Startup Center, No.4 Longshan Road, WND, Wuxi, Jiangsu Province 214028, People's Republic of China |
Local Corporation in China: Guangdong Branch, Shenzhen Marketing Service Department
| Name | : | Mitsui Sumitomo Insurance (China) Company, Limited (Shenzhen Marketing Service Department, Guangdong Branch) |
| Permit obtained | : | January 14, 2011 (permit to launch operations) |
| Facility | : | located in Shenzhen, Guangdong |
2.Outline of Marketing Service Department (applications pending)
Local Corporation in China: Jiangsu Branch, Suzhou (Marketing Service Department planned)
| Name | : | Mitsui Sumitomo Insurance (China) Company, Limited (Suzhou ,Marketing Service Department Jiangsu Branch) |
| Facility | : | Located in Suzhou, Jiangsu |
3.Reasons and Background for Boosting Operations
In July, 2010, the Jiangsu Branch obtained a permit from the China Insurance Regulatory Commission which allowed it to prepare for the establishment of a branch office.
Although preparations were underway, a permit to launch operations was obtained on December 29, and so operations formally commenced on January 13 this year. Many Japanese companies have launched operations at manufacturing collection and distribution centres located in the Chang Jiang Delta Economic Zone of Jiangsu, and our new branches and sales offices enable them to offer direct services to customers living throughout the region.
The ",Marketing Service Department ," the very first to be established by a Japanese non-life insurer in China, will be subordinate sales organizations. The company already has a business licence for operating in this region. However, the decision was made to establish sales offices to further enhance customer convenience.
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