Asia’s insurance industry celebrated its creme de la creme at a gala dinner held in Macau last night, honoring a total of 15 winners. The 20th Asia Insurance Industry Awards celebrated the achievements of outstanding industry leaders in various categories. Paying tribute to individuals who have made the most outstanding long-term contribution to the insurance industry in Asia, the prestigious Lifetime Achievement Award was presented to Mr. Toshiaki Egashira, Senior Advisor to the Board of Mitsui Sumitomo Insurance Company, Limited.
A bold and inspiring leader, Mr. Egashira was entrusted with leading Mitsui Sumitomo Insurance “MSI” (a core non-life insurance entity of MS&AD) in April 2006. With three decades of credentials in underwriting, marketing, and corporate strategy, Mr. Egashira took on one of the biggest challenges in his career — transforming a domestic-centric MSI into a global insurance powerhouse by implementing fundamental reforms that reshaped the Group’s corporate culture.
Mr. Egashira was hailed as the architect of change and expansion and spearheaded successive improvement plans targeted to raise the quality of insurance offered by MSI, and by doing so, earned the trust and support of customers. His aspiration and expectation for MSI were, “to become a company that puts the customers’ viewpoints first.” Today, the Mitsui Sumitomo brand is synonymous with “quality” and “trustworthiness” in Japan and around the region.
The first Japanese to win this esteemed award, Mr. Egashira, with an illustrious career of over 40 years, addressed the crowd with great humility, “This award has been earned not just by me but also through the efforts of all the management and staff, as well as business partners and friends, of the Mitsui Sumitomo Insurance Company, with whom I have had the privilege to work with during my more than 40 years in the industry.” He continued, “It is essential that we realize no matter where we are in this industry, that we should always think of ways to go that extra mile — ‘To Go Above and Beyond as we say at MSIG — in terms of service excellence to help our customers as well as in contributing to the wider society. In his closing remarks, Mr. Egashira commented, “This industry is all about heart, and I wish to see it continue to positively touch the lives of many. With 395 entries for the awards and a judging panel of 30 international business leaders and regulators from the insurance industry, the annual Asia Insurance Industry Awards are the foremost awards of their kind in the region. It has been hosted since 1997 by Asia Insurance Review, the leading journal and strategic partner in the region’s insurance industry.
MS&AD Insurance Group (“MS&AD”)
Awarded “General Insurance Company of the Year” by the Asia Insurance Review in 2011, MS&AD was formed in April 2010 from the business integration of Mitsui Sumitomo Insurance Group Holdings, Inc., Aioi Insurance Co. Ltd., and Nissay Dowa General Insurance Co., Ltd. Today MS&AD is one of the largest general insurance groups in the world with presence in over 46 countries and regions, 16 of which are in Asia and Oceania. Based in Japan, MS&AD is active in five business domains, namely domestic (Japanese) non-life insurance, domestic (Japanese) life insurance, overseas business, financial services business, and risk-related business.
For over 100 years, MSIG has been Asia’s leading general insurance provider. Today, with representation in every ASEAN country, MSIG continues to grow in strength and reach. With its wealth of experience and commitment to Asia, MSIG leverages its multi-channel distribution, strong partnerships with intermediaries, and extensive geographical network to offer a wide range of insurance solutions across personal and commercial lines.
Combining global and local best practices, MSIG’s 4,500 employees across the region strive to make a significant impact on the business and lifestyle of its customers. MSIG is a member of MS&AD and one of the Group’s subsidiaries, MSIG Singapore, was named the “Insurer Claims Team of the Year” at the 2016 Claims Award Asia-Pacific 2016, and MSIG Malaysia also achieved a milestone when it was awarded “General Insurer of the Year” at the 2015 Asia Insurance Industry Awards. MSIG has also received the “Corporate Social Responsibility Award” at the 2009 Asia Insurance Industry Awards which recognized the company’s social responsibility efforts in giving back to the local community. Located in Singapore, MSIG Holdings (Asia) Pte. Ltd. (“MSIG Asia”) is the regional holding company and a wholly owned subsidiary of Mitsui Sumitomo Insurance Company, Limited within the wider MS&AD Insurance Group. MSIG Asia is helmed by Chairman, Mr. Isao Nojo, and Regional Chief Executive Officer, Mr. Alan Wilson.0