Japanese insurer plans merger of European branches

The merger is aimed to be completed around the summer of next year.

Japanese-headquartered insurer, Mitsui Sumitomo Insurance plans to merge its Continental European insurance subsidiaries.

MS Amlin insurance SE (hereafter, AISE), and MSIG Insurance Europe AG (hereafter, MSIGEU) are based in Belgium and Germany, accordingly.

The merger, subject to regulatory approval and local consultations, is aimed to be completed around the summer of next year.

AISE became part of MSI through the acquisition of Amlin in 2016, focusing on the local Small and Medium-sized Business market.

Thus, the merger aims to drive sustainable growth in the European market by combining the strengths of these two entities.

“The new company will become one of the larger insurance companies following the top five in Continental Europe in commercial and industrial market. We aim to further improve our presence, expand our business and strengthen profitability by pursuing synergies through integration, and strive to further improve customer service.” it said in a company statement.