MSIG Insurance (Johor Bahru)
From Johor Bahru Insurance
|MSIG is today among the largest general insurance companies in Malaysia.|
MSIG Insurance (Malaysia) Berhad (MSIG) is among the largest general insurance companies in Malaysia, with gross premium revenue of over RM800 million and net assets exceeding RM1.8 billion in 2009. MSIG is a subsidiary of Mitsui Sumitomo Insurance Company Ltd and a member of MS&AD Insurance Group.
MSIG was formed in July 2006 as a result of the merger between Mitsui Sumitomo Insurance (Malaysia) Berhad and Aviva Insurance Berhad. In October 2010, it formed a strategic partnership with Hong Leong Assurance Berhad (HLA). This partnership involved a two-part transaction wherein:
- Hong Leong Assurance Berhad merged 100% of its general insurance business with MSIG for a 30% share of the new enlarged entity.
- Mitsui Sumitomo Insurance Company Limited took up a 30% equity interest of Hong Leong Assurance's life insurance business.
As a result of the merger, MSIG today (2010) ranks: 
- No. 1 in marine cargo, and fire insurance;
- No. 2 in contractor's all risks and engineering, as well as medical expenses insurance; and
- No. 3 in personal accident insurance.
Mitsui Sumitomo Insurance Group (MSIG)
Formed in 2001 from the merger of Mitsui Marine & Fire Insurance Co. and Sumitomo Marine & Fire Insurance, MSIG is the 3rd-largest property insurance company in Japan behind Tokio Marine and Sompo Japan, with a market share of 18.6% in 2007.