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| Mitsui Sumitomo Insurance has been a generous sponsor of sports since 1989 as part of a program to develop a new corporate culture. Its women’s judo club and track & field team have excelled in competitions both at home and abroad, with a member even winning gold at the 2004 Athens Olympics. |
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Sumitomo Marine merged with Osaka Marine Insurance—a member of the Osaka Shosen Kaisha (now Mitsui OSK) Group—in 1944. More than 50 years later, in October 2001, Sumitomo Marine merged with Mitsui group company Mitsui Marine and Fire Insurance Co., Ltd. to form Mitsui Sumitomo Insurance Company, Limited and thus made a new start as Japan’s largest comprehensive risk management company.
The merger of Sumitomo Marine and Mitsui Marine commanded attention because it crossed the traditional zaibatsu barrier, but it is clear from the early history of Sumitomo Marine that Hachisaburo Hirao had already forged a link between the two companies when he resolved to rehabilitate Fuso Marine with Sumitomo’s backing. Hirao willingly offered assistance to the non- life insurance industry, with the conviction that zaibatsu should not monopolize the business in light of its public service role.
Great leaders of the past—men such as Hirao, Ogura, and Koyama—bravely followed their principles with no thought for personal gain. It is their spirit that underpins Mitsui Sumitomo Marine’s philosophy of providing the best quality of safety and security to society, customers, and shareholders.
The merger brought together the two companies’ respective tangible and intangible assets. Despite its substantial size and brand power, Mitsui Sumitomo Insurance remains keenly motivated to reform and take on new challenges.
Preparation of this article was overseen and photos provided by the Sumitomo shi- ryo- kan and Mitsui Sumitomo Insurance Co., Ltd. . |
