Press Releases
MSI China obtains permit to prepare for establish its Jiangsu Branch
July 16, 2010
Mitsui Sumitomo Insurance Co., Ltd.
On July 7, Mitsui Sumitomo Insurance (China) Company, Limited, (“MSI China”), a wholly-owned subsidiary of Mitsui Sumitomo Insurance Co., Ltd. (“MSI”) (President: Yasuyoshi Karasawa), received a permit from the China Insurance Regulatory Commission to prepare for establishing a branch in the Jiangsu Province. Subject to the final examination and approval from relevant authorities, MSI China is going to open its Jiangsu Branch in the Wuxi city, Jiangsu and commence the operation there as soon as practical.
Since its establishment by transforming MSI’s Shanghai Branch into a wholly-owned subsidiary in December 2007, MSI China has extended its operational arms, opening Guangdong Branch in October 2008 and Beijing Branch in January 2010. As a result, only MSI China, as a subsidiary of a Japanese non-life insurer, operates in the central cities of the major three regions; East China (Head Office in Shanghai), South China (Guangdong Branch) and North China (Beijing Branch).
By opening its fourth sales office in the Jiangsu Province which is located in the Yangtze Delta with a broad variety of manufacturing industries that operate in clusters, MSI China will aim to enhance its presence toward standing firm among the top-class foreign non-life insurers there and establishing an unrivaled status by its Japanese peers.
Outline of MSI China's Jiangsu Branch (Planned)
| Name | Mitsui Sumitomo Insurance (China) Company, Limited Jiangsu Branch |
|---|---|
| Planned branch location | Wuxi, Jiangsu Province (Wuxi is one of the major pivotal cities in the Jiangsu Province. This office will be the first of a Japanese non-life insurer there.) |
| Number of employees | Initially start with 30 employees or so |
Outline of MSI China
| Company Name | Mitsui Sumitomo Insurance (China) Company, Limited |
|---|---|
| Date of license obtained | July 23, 2007 (originally established as MSI’s branch and opened in May 2001.) |
| Chairman and Managing Director | Kiichiro Minami |
| Paid-in capital | RMB 500 million (Approx. JPY 6.5 billion) |
| Head office location | 34 Floor, Shanghai World Financial Center, 100 Century Avenue, Pudong New Area, Shanghai 200120, People's Republic of China |
| Number of Employees | About 200 employees |
| Branches | Guangdong Branch Beijing Branch |
- End -
E-mail Distribution
Subscribers will be notified via E-mail when we update website for our latest news release.
RSS Distribution
Distributes our latest news release in RSS format.
