Hara to Head Japanese Insurance Group MS&AD

Economy Society

Tokyo, Feb. 10 (Jiji Press)--MS&AD Insurance Group Holdings Inc. <8725> is in the final stages of talks on appointing board director Noriyuki Hara, 64, as its next president, it was learned Monday.

Current President Yasuyoshi Karasawa, 69, will become chairman without the right to represent the parent company of Mitsui Sumitomo Insurance Co., Aioi Nissay Dowa Insurance Co. and other insurance units, while Chairman Hisahito Suzuki, 69, will retire, informed sources said.

The appointments will be made official after a general meeting of MS&AD's shareholders slated for June.

Hara joined Taisho Marine and Fire Insurance Co., a predecessor of Mitsui Sumitomo Insurance, in 1978.

He became president of Mitsui Sumitomo Insurance in April 2016 after serving as senior executive officer of the company and then as executive vice president. Hara has been concurrently serving as MS&AD board director since June the same year.

[Copyright The Jiji Press, Ltd.]

Jiji Press