History of Value Creation

Sompo Holdings traces its roots back 130 years to Japan’s first fire insurance company that wholeheartedly committed itself to a mission of protecting its customers from fire. We have adapted to major changes throughout our history by adhering to the idea of working for the wellbeing of people and society, amid undercurrents of change in customer behavior and the surrounding business environment, such as population decline, fewer children in an aging society, climate change, and the proliferation of mobile devices and other advances in technology. In the future as well, we will boldly take on the challenge of creating new value with the aim of realizing our vision for “A Theme Park for Security, Health & Wellbeing.”

Founded as Japan’s First Fire Insurance Company

Sompo Japan Nipponkoa Insurance Inc., at the core of Sompo Holdings, was formed in September 2014 from the merger of Sompo Japan Insurance Inc. and NIPPONKOA Insurance Co., Ltd. The forerunners to these two companies included The Yasuda Fire & Marine Insurance Co., Ltd., The Nissan Fire and Marine Insurance Company, Limited, The Taisei Fire and Marine Insurance Co., Ltd., The Nippon Fire & Marine Insurance Co., Ltd., and The Koa Fire & Marine Insurance Co., Ltd. Of these, the firm that started operations the earliest, and later became The Yasuda Fire & Marine Insurance Co., Ltd., was Tokyo Fire Insurance Company, Inc. Founded in 1888 on the desire to protect the residents of Tokyo from fire, which back then was a frequent occurrence, Tokyo Fire Insurance Company, Inc., was Japan’s first fire insurance company. At that time, insurance companies depended on the Tokyo Fire Brigade, then the only officially recognized private fire brigade, to protect their customers from fire 24 hours a day, 365 days a year. We have inherited this 130-year history of an insurance company whose mission and commitment to protect customers has been passed down through generations. Today, this mission and commitment is mirrored in our Group Management Philosophy: “We will strive to contribute to the security, health, and wellbeing of our customers and society as a whole by providing insurance and related services of the highest quality possible.”

Business Integration in Response to Changes in the Operating Environment

Over the next century following the founding of Tokyo Fire Insurance Company, Ltd., the insurance industry became regulated under the so-called convey system, with insurance providers lined up to offer the same insurance policies at basically the same premiums. In 1996, revisions to the Insurance Business Act (part of reforms that were Japan’s version of the financial Big Bang) greatly accelerated deregulation and led to intense competition that sparked a realignment of the insurance industry. Sompo Japan Insurance Inc. and NIPPONKOA Insurance Co., Ltd., the forerunners to Sompo Holdings, evolved while remaining close to their customers, coalescing their strengths honed over 130 years of history into a singular force, leading to the establishment of NKSJ Holdings, Inc. (currently Sompo Holdings, Inc.), in April 2010 and then the creation of Sompo Japan Nipponkoa Insurance Inc. in September 2014.

Toward the Realization of “A Theme Park for Security, Health & Wellbeing”

Throughout its 130-year history, the Sompo Holdings Group has contributed to the development of society by providing security through insurance for unlikely events, being there when needed for customers in their daily lives and corporations in their business activities. Nowadays, the volatility, uncertainty, complexity, and ambiguity (VUCA) of situations has increased around the world alongside advances in technology and other modern trends, while more complex social issues have emerged.
The role played by the Group must also evolve. In this era, the Sompo Holdings Group boldly ventured into new business domains related to security, health, and wellbeing, entering the nursing care business in 2015 and moving beyond the boundaries of insurance by creating new platforms in retail and corporate fields in its overseas insurance business, centered on Endurance Specialty Holdings Ltd. (currently Sompo International Holdings Ltd.), which was acquired in 2017.
The Group strives to create new value centered on security, health, and wellbeing while seizing on opportunities to solve various social issues. Looking ahead, we aim to realize our vision for “A Theme Park for Security, Health & Wellbeing” by transforming each business and strengthening collaboration among businesses, based on a solid financial foundation and the ability to steadily generate profits.