Japanese insurance company MS&AD Insurance Group Holdings has announced significant changes to its executive team.
Effective April 1,Hironori Morimoto will be appointed as a new executive officer, taking charge of the International Business Planning Department.
Morimoto, who is currently serving as the managing executive officer of Mitsui Sumitomo Insurance Co, Ltd, will step into his new role following the resignation of Tamaki Kawate on March 31.
In a broader executive reshuffle, the company outlined the responsibilities of key executives from April.
Noriyuki Hara continues as president and CEO, with Tetsuji Higuchi taking on the role of executive vice president and chief financial officer, among other duties.
The reshuffle also sees new responsibilities for Naomi Motojima as chief sustainability officer and several other appointments across various departments.
Alongside these organisational changes, MS&AD released its monthly sales data for February. The data revealed a mixed performance across its product lines.
The company reported a 2.7% growth in voluntary automobile premiums, totalling 107,219 million yen, and a 13.3% increase in fire insurance premiums, amounting to 36,901 million yen. Conversely, compulsory auto liability insurance experienced a significant decline of 13.9%, with personal accident and marine insurance also reporting drops in sales.
Overall, the group achieved a 1.5% growth in total premiums, amounting to 215,134 million yen.
These figures represent a simple aggregation of preliminary data from Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance.
