Mitsui Sumitomo bolsters Africa network with strategic alliance
Mitsui Sumitomo Insurance Company Europe (MSIEU), a wholly owned subsidiary of MSI, has concluded strategic alliance agreements with ICEA LION General Insurance Company in Kenya, and International Commercial and Engineering Seguros (ICE) in Mozambique.
These agreements will allow MSIEU to provide MSI’s services to Japanese businesses in East and Southeast Africa, where business investments of Japanese companies as well as Asian and Chinese companies have accelerated.
Under the agreement, ICEA LION and ICE will serve as local insurance carriers in the region, with a designated team serving the company’s Japanese customers by issuing local policies, responding to accidents and offering risk management services.
According to the company, a designated office space for MSIEU will be reserved in each of the company’s offices. MSIEU will support the underwritten risks by providing its reinsurance capacity, underwriting know-how and assistance in the communication with customers.
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