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Press Releases

MSI China obtains permit to prepare for establish its Jiangsu Branch

July 16, 2010

Mitsui Sumitomo Insurance Co., Ltd.

MSI group's approach to the Chinese markets

Year Benchmark
Oct 2000
Mitsui Sumitomo Insurance Co., Ltd. ("MSI," former Mitsui Marine & Fire Insurance Company, Limited ("Mitsui Marine")) obtained a preliminary permit to open its Shanghai Branch from the China Insurance Regulatory Commission ("CIRC").
Apr 2001
MSI (former Mitsui Marine) obtained a license to operate at its Shanghai Branch.
May
MSI (former Mitsui Marine) opened its Shanghai Branch.
Feb 2003
Suzhou representative office opened.
Feb 2004
A permit to underwrite Chinese local risks was obtained from the CIRC.
May
A business cooperation agreement with Nansha Economic and Technological Development Zone of Guangdong city.
Sep
Hangzhou representative office opened.
Oct
A comprehensive cooperation agreement with China Pacific Insurance (Group) Co., Ltd. ("CPIC") was signed.
  Qingdao representative office opened.
Jul 2007
A permit to establish a subsidiary in China was obtained from the CIRC.
Dec
Mitsui Sumitomo Insurance (China) Company Limited ("MSI China") officially commenced its operation as MSI's subsidiary in China
Oct 2008
MSI China opened its Guangdong Branch.
Mar 2009
MSI China increased its capital (to RMB 500 million).
Dec
MSI invested in CPIC as a fundamental investor. (approx. equivalent to USD 65 million)
Jan 2010
MSI China opened its Beijing Branch.
Mar
InterRisk Consulting (Shanghai) Co., Ltd. established.
Apr
MSI acquired a seven-percent stake (equivalent to JPY 2.4 billion) in Sinatay Life Insurance Co., Ltd.
Jul
MSI China obtained a preliminary permit to open its Jiangsu Branch from the CIRC.

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