Singapore, 9 November 2011 – The MS&AD Insurance Group (MS&AD) was named the ‘General Insurance Company of the Year’ at the 2011 Asia Insurance Industry Awards, in recognition of its professional standards, quality of service provided to customers throughout the Asian region, and solid financial performance.
MSIG Holdings (Asia) Pte Ltd (MSIG), a member of the MS&AD Insurance Group, received the award on the Group’s behalf at a ceremony held in Singapore.
The annual awards were jointly organised by Asia Insurance Review and The Review Worldwide Reinsurance magazines.
Receiving the award, Mr. Atsushi Yagi, Chairman of MSIG Holdings (Asia) Pte Ltd, commented on the Group’s success, “We are delighted to be recognised as the General Insurance Company of the year. Credit for this award goes to all employees of the Group, who have been dedicated to improving our overall customer service, product quality, efficiency, and delivery capabilities. Our financial strength stems from their collective efforts in executing our strategy, for which the management team are grateful.
This award is an honour as it is the highest recognition of our Group’s commitment to the general insurance business in Asia. MS&AD will continue to build on our existing network in Asia to deliver world-class products and services to our customers throughout Asia, with the region playing a pivotal role in shaping the future and growth of the world’s economy as well as the insurance industry.”
In addition to this year’s award, MSIG received the ‘Corporate Social Responsibility Award’ at the 2009 Asia Insurance Industry Awards. The award recognised MSIG’s social responsibility efforts at giving something back to the societies in the markets that the company operates in, which is consistent with the Group’s core business and values.
Using information submitted from a comprehensive range of criteria for this year’s ‘General Insurance Company of the Year’ award, the judging panel comprising international industry leaders, practitioners and regulators selected the winner based on:
- In-depth knowledge and understanding of the market;
- Responsiveness to customers’ needs;
- Industry leadership as shown through innovation in products, provision of best quality service, strong underwriting discipline, exemplary employer practices, claims management, business growth, as well as contribution to boosting the industry’s image;
- Sound financial management and transparency of accounts and processes;
- Setting professional standards.
About MS&AD Insurance Group
The MS&AD Insurance Group (MS&AD) based in Japan, was established in April 2010 as a result of a strategic alliance between Mitsui Sumitomo Insurance Group, Aioi Insurance and Nissay Dowa General Insurance Company.
Through its subsidiaries and associated companies in both domestic and overseas markets, the Group operates five business segments - Domestic Non-Life Insurance Business; Domestic Life Insurance Business; Overseas Business; Financial Services Business; and Risk Related business.
As of March 31, 2011, the company has 121 subsidiaries and 28 associated companies.
About MSIG Holdings (Asia) Pte Ltd
MSIG Holdings (Asia) Pte Ltd (MSIG) is the regional holding company within the MS&AD Insurance Group, one of the largest general insurers in the world with presence in 41 countries and regions, 17 of which are in Asia.
MSIG has been tending to general insurance needs across Asia for more than 100 years.
Combining global and local best practices, the company leverages on its multi-channel distribution, strong partnerships with intermediaries and extensive geographical network – which includes representation in every ASEAN country – to offer a wide range of insurance solutions across major personal and commercial lines.
MSIG Holdings (Asia) Pte Ltd is helmed by Chairman, Mr. Atsushi Yagi, and Regional Chief Executive Officer, Mr. Alan J. Wilson.
For more information, please contact:
Executive Vice President
+65 6827 7818
Choong Fong Ling
Brand and Communications
+65 6827 2897
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