Mitsui Sumitomo sets up new office in South Africa

Source: Middle East Insurance Review | Sep 2015

Mitsui Sumitomo Insurance (MSI), a member of MS&AD Group Holdings in Japan, has established a new office in Johannesburg, South Africa, to conduct research into the insurance markets in the sub-Saharan region and enhance its ability to serve the needs of Japanese-owned firms. The office is scheduled to open in September 2015.

In a statement, MSI said the sub-Saharan region is expected to see enormous economic growth, both as a supplier of oil, natural gas and mineral resources, and as a promising consumer market with considerable potential. The insurer also sees opportunities in the sizeable business investments being made by Japanese trading companies and others, and ongoing entry into the region by automobile manufacturers.

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