MSIG embraces CSR regardless of the economic climate, encourages companies to invest in long-term CSR programmes

All four Singapore research grant recipients from the National University of Singapore  

Singapore, January 12, 2010 – Mitsui Sumitomo Insurance Group (MSIG) today reinforced its commitment to corporate social responsibility (CSR) and the local community by awarding grants to four new projects from the National University of Singapore (NUS) that will improve senior citizen welfare and enhance traffic safety. Four additional grants related to traffic safety will be handed out in Thailand tomorrow.

The grants are funded by the Mitsui Sumitomo Insurance Welfare Foundation (MSIWF), which was founded in 1975 by MSIG. Since its establishment, MSIWF has awarded grants annually, regardless of the economic climate. To-date, MSIWF has handed out 1,636 awards with a combined value of JPY 2.015 billion.

Mr. Alan Wilson, CEO of MSIG Holdings (Asia) said, "2008 and 2009 saw the world gripped by an unprecedented economic crisis. Despite such tough circumstances, there has been no change in our determination to spearhead initiatives that are uniquely meaningful and specific to the markets that we operate in, especially in Asia. We have been able to stay on course through thoughtful planning and long-term programmes such as the Welfare Foundation."

Mr. Yasuhiro Imamura, Executive Director of MSIWF added, "It is a combination of insight and foresight that drove the establishment of the foundation 35 years ago to focus on senior citizen welfare and traffic safety. Today, these have become significant issues for densely-populated countries like Japan, Singapore and Thailand. Asian companies are in a prime position to care for the communities in which they operate. By establishing long-term plans for CSR, we maintain ongoing support for those in need."

The MSIWF supports research on senior citizen welfare and traffic safety, topics of great relevance to MSIG’s core business in insurance. The grant is also the first and only Asia-wide research grant focusing on traffic safety that is offered by a private company.

Through the research grants, MSIG hopes to contribute to the continual growth and stimulation of the intellectual community. The company also appreciates the need to cultivate and encourage young researchers and academics in an environment where there is a lack of small grants.

54 grants awarded globally including eight projects in Southeast Asia

A total of 54 grants are awarded this year with a combined value of JPY 41.9 million (approximately S$630,000). This is the third year that the grant is awarded to researchers outside Japan.

Of these, eight research projects in Southeast Asia will receive grants, of which four are from the National University of Singapore (NUS). Each NUS team will be awarded up to a maximum value of S$10,000.

Professor Barry Halliwell, NUS Deputy President (Research and Technology) said, "Ageing is one of the most critical challenges facing the world today and research into it is one of NUS’ major priorities. We are pleased to partner Mitsui Sumitomo Insurance Welfare Foundation in finding solutions for societies to better cope with an increasing proportion of aged people. The diversity of the NUS research projects that were awarded funding today illustrates the multi-dimensional nature of NUS research into ageing. The funding will kick-start important projects that help older adults better adapt to their living environments."

Taking the lead to provide research leadership in ageing subjects, the Virtual Institute for the Study of Ageing (VISA) was set up by NUS to facilitate the creation of new knowledge about ageing in Singapore.

Another four Thai projects related to traffic safety will be given grants with a maximum value of THB 150,000 (approximately S$6,300) each.

The eight projects are:

1. What Factors Contribute to Life Expectancy: Comparison of ASEAN Countries in the 21st Century – National University of Singapore (Singapore; Senior Citizen Welfare)

2. Enhancing Exercise-Mediated Longevity and Brain Function in the Elderly – National University of Singapore (Singapore; Senior Citizen Welfare)

3. Living Alone, Loneliness and Health of the Elderly – National University of Singapore (Singapore; Senior Citizen Welfare)

4. Augmented Reality-Enhanced Navigation Assistance System – National University of Singapore (Singapore; Traffic Safety)

5. Automated Computer Based Detection of Motorcycle Riders Without Helmets Using State of the Art Computer Vision Techniques – Mae Fah Luang University (Thailand; Traffic Safety)

6. A Study on Criteria of Urban Design for Supporting Traffic System in University Towns: Assessing the Impact of Street Furniture on Traffic Safety, a Case Study of Naresuan University – Naresuan University (Thailand; Traffic Safety)

7. The Role of School Director for Safety Behavior Management in Secondary School – Khon Kaen University (Thailand; Traffic Safety)

8. Analysis of Accident Cost in Thailand by Willingness-To-Pay Method – Asian Institute of Technology (Thailand; Traffic Safety)

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For further information, please contact:

Angela Ling 
Brand and Communications Manager, MSIG Holdings (Asia) Pte Ltd
Tel: +65 6827 2828
Email: angela_ling@msig-asia.com

Greg Ting Wee Liang
PR Consultant, Filament Public Relations
Tel: +65 9791 7870 
Email: greg.ting@filamentpr.com.sg

About MSIG Holdings (Asia) Pte Ltd:

MSIG Holdings (Asia) Pte Ltd is one of three holding companies for the Mitsui Sumitomo Insurance Group (MSIG) around the world and oversees operations in ASEAN and Hong Kong markets.

A leading provider of general insurance solutions for more than 100 years, MSIG currently operates in over 41 markets in Asia Pacific, United States and Europe, of which 16 are in Asia. MSIG has total assets of more than USD 75.9 billion, as at March 2009. MSIG has received strong financial ratings, including an AA financial strength rating from Standard & Poor’s, an Aa3 financial strength rating from Moody’s Investors Service and an A+ financial strength rating from A.M. Best, as at June 2009.

MSIG Holdings (Asia) Pte Ltd is based in Singapore and helmed by CEOs Mr. Alan J. Wilson and Mr. Atsushi Yagi.

About NUS Virtual Institute for the Study of Ageing:

The NUS Virtual Institute for the Study of Ageing (VISA) was set up to facilitate the creation of new knowledge about the ageing process and the application of the knowledge to better the social and individual consequences of ageing in Singapore. More information on VISA is available at http://www.nus.edu.sg/dpr/visa/index.htm.

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