Explanation: Global Executive Committee (Global ExCo)

1. Purpose and Position

In line with the Sompo Group’s vision of becoming “A Theme Park for Security, Health & Wellbeing,” Sompo Holdings newly established the Global Executive Committee (Global ExCo) in April 2019 as an advisory body to the Group CEO, believing it necessary to have a framework for advancing the globalization of management and improving the speed, flexibility, and quality of business execution. As the highest executive committee, Global ExCo comprises members of top management in key Group roles, such as Business CEOs inside and outside Japan and Group Chief Officers, who discuss topics of significant business importance, including Group strategies and business execution policies. These members are responsible for rapidly and accurately making high-level decisions, exchanging opinions directly and freely from the standpoint of the domains they oversee and viewpoints regardless of their position.
Unlike meetings of the management committee, in which mainly Japanese participants discussed a wide range of topics, Global ExCo has a diverse range of members, including overseas executives, who conduct intensive discussions focused on important Group-wide issues, such as strategies and policies. In addition to reporting the minutes of discussions to the Board of Directors, which oversees the executives, directors are invited to observe Global ExCo in order to enhance transparency of the decision-making process.
At Global ExCo, participants from diverse backgrounds have had lively discussions about deploying capital, digital technologies, and AI with the aim of advancing toward the realization of “A Theme Park for Security, Health & Wellbeing.” In recent meetings, serious discussions have taken place about current shareholder returns, with a variety of opinions being aired in light of the business environment during and after the COVID-19 pandemic. Lately, deliberations have focused more on initiatives for providing new value that lead to the resolution of social issues, necessary measures for expanding existing and peripheral businesses, and policies for the next Mid-Term Management Plan. With one eye on the business environment, and with candor, considering what is best for the Group, and being rooted in facts as our three premises, discussions were held about making resilient progress toward value creation as a group and achieving sustained, strong growth, without fear of “good clashes.”

[ Three Premises for Global ExCo ]

Candor Candor entails discussions with a mind to solving problems by candidly talking about problems in businesses and domains. Deep discussions are held with “good clashes” by avoiding pre-established harmony and occasionally playing devil’s advocate.
Best for the Group At the highest executive committee of the Group, the idea of what is best for the Group materializes in discussions that take a top-down perspective of the Group. Talk about what is best for one’s own business or domain is discouraged in a bid to maximize benefits for the entire Group.
Rooted in Facts Discussions are encouraged to be rooted in facts through the use of qualitative data and objective facts (including third-party qualitative information, such as from investors).

2. Meeting Frequency and Format

In principle, Global ExCo is held six times a year. The Group CSO (Chief Strategy Officer) leads discussions and the Group CEO summarizes the discussions as the chairperson. At each meeting, four or five topics are discussed.

3. Members

From Japan, meeting participants comprise the Representative Executive Officers, Group CEO, and Group COO, as well as Business CEOs of the domestic P&C insurance business, domestic life insurance business, and nursing care & healthcare business and Group Chief Officers. From overseas, participants include the CEO of the Overseas Insurance and Reinsurance Business and the Chairman of Overseas M&A as official members. When necessary, meetings are held with other participants invited to discuss certain matters.

4. Manner of Operation

The following framework has been set up for Global ExCo to enhance business execution speed and effectiveness.

As shown above, Sompo Holdings has put in place a framework, centered on Global ExCo, to rapidly effect a transformation through astute and flexible decision-making and rapid execution on a Group-wide basis.