Mitsui Sumitomo and Aioi Nissay Dowa to Merge for Insurance Powerhouse

MS&AD Insurance Group Holdings, Inc. announced that its Board of Directors has approved proceeding with discussions for the merger of Mitsui Sumitomo Insurance Co., Ltd. and Aioi Nissay Dowa Insurance Co., Ltd., with a targeted completion date of April 2027. This move aligns with their vision to become a world-leading insurance and financial group. The merger will structure a stronger domestic non-life insurance business and aims to achieve top market share. MS&AD is also concentrating on compliance enhancements and governance improvements, including a transition to a company with an audit and supervisory committee, where a majority of outside directors will be appointed to bolster oversight. The organization is committed to bettering customer services by integrating the unique strengths of both entities and is set to invest in areas like international and digital services. Further announcements regarding the specifics of the merger are pending.