Marsh, a division of Marsh McLennan, has successfully completed its acquisition of Mitsubishi Electric Insurance Service, an insurance agency based in Tokyo. The financial details of the transaction have not been disclosed, but the deal was initially announced in July.
Following the acquisition, the acquired business will now operate under the name MEIS Insurance Services (MEIS) as part of Marsh Japan. MEIS, which was established in 1999, offers a wide range of insurance options across various commercial lines such as cargo, commercial auto, cyber, directors and officers, liability, property, and workers compensation. Additionally, they provide non-life and life insurance, as well as medical and nursing care coverage.
With the deal finalized, Marsh Japan has appointed Ichiro Seino as the president and CEO of MEIS. Seino has been with Marsh Japan since 1995 and most recently served as the automotive industry leader for Marsh Asia. Katsuya Furuta, who had been leading Mitsubishi Electric Insurance Service, will now assume the role of chairman at MEIS.
Seino expressed his excitement about leading the newly rebranded MEIS and emphasized the company’s commitment to providing reliable and quality service to its clients. He highlighted the added value that Marsh’s global resources, services, and expertise will bring to clients in Japan.
Marsh Japan, established in 1955, functions as an insurance broker and risk advisor for a wide range of organizations in Japan. Chikara Nakanishi, CEO of Marsh McLennan Japan, welcomed MEIS’ colleagues and clients to Marsh, noting that the combination of Ichiro’s leadership, Marsh’s global network, and MEIS’s reputation will enhance the company’s offerings and provide greater value to clients through an expanded product portfolio and improved service delivery.
The article, originally titled “Marsh Japan completes takeover of Mitsubishi Electric Insurance Service,” was first published by Life Insurance International, a GlobalData owned brand.
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