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Marsh, a part of Marsh McLennan, has concluded its beforehand introduced buy of Mitsubishi Electrical Insurance coverage Service, an insurance coverage company headquartered in Tokyo.
Monetary specifics of the deal stay undisclosed.
The deal was introduced in July.
The acquired enterprise will now function below the title MEIS Insurance coverage Companies (MEIS) as a part of Marsh Japan.
MEIS was established in 1999 and offers insurance coverage choices throughout a number of business traces together with cargo, business auto, business umbrella, cyber, administrators and officers, legal responsibility, property and employees compensation.
Different choices embody non-life and life insurance coverage, together with medical and nursing care protection.
With the acquisition finalised, Marsh Japan has named Ichiro Seino as president and CEO of MEIS.
Seino has labored with Marsh Japan since 1995, and has held the place of automotive trade chief for Marsh Asia since 2021.
Katsuya Furuta, who had been main Mitsubishi Electrical Insurance coverage Service since 2023, will tackle the function of chairman at MEIS.
Seino stated: “I’m honoured to guide the brand new MEIS at such a major turning level for the corporate. Our foremost precedence is to proceed to offer the dependable and high quality service our shoppers have lengthy trusted. By way of entry to Marsh’s international assets, providers and experience, we’ll now ship even better worth to our shoppers throughout Japan.”
Marsh Japan was based in 1955 and acts as an insurance coverage dealer and threat advisor to a variety of organisations all through Japan.
Marsh McLennan Japan CEO Chikara Nakanishi acknowledged: “I’m delighted to welcome MEIS’ colleagues and their shoppers to Marsh. Combining Ichiro’s management, Marsh’s international community and threat administration experience with MEIS’s long-standing status, the addition of the MEIS workforce strengthens our providing and can ship better worth to shoppers by means of a broader product portfolio and improved service supply.”
“Marsh Japan completes takeover of Mitsubishi Electrical Insurance coverage Service ” was initially created and printed by Life Insurance coverage Worldwide, a GlobalData owned model.
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