Business Outline
Sompo International contributes to the security, health and wellbeing of our clients by offering a full range of tailored commercial and personal lines products and related services in markets around the world. Drawing on our deep underwriting expertise, we deliver innovative solutions to address a broad range of known and emerging risks in today’s rapidly changing
environment.
Progress of the Mid-Term Management Plan
Under the current Mid-Term Management Plan, we expect to achieve an adjusted profit of around ¥65 billion due to steady organic growth centered on the expansion of specialty insurance for fiscal 2020.
After completing the formation of Sompo International in March 2017, the Company is working to build a truly integrated global platform, with the aim of further expanding the overseas insurance business contribution.
In fiscal 2018, the third year of the Mid-Term Management Plan, the adjusted income of overseas insurance business was ¥10.9 billion less than fiscal 2017 due to the effects of tax expense reductions associated with the reorganization of Sompo International in fiscal 2017 and the impact of overseas natural disasters. It decreased to ¥33.0 billion.
In fiscal 2019, we plan to achieve an adjusted profit of ¥59 billion or more by increasing income premiums while further promoting the use of the global platform in the corporate sector and building the platform in the retail sector. In the future, we will aim to achieve an adjusted profit of ¥100.0 billion by further expanding the use of retail platforms and M&As.
