@BdAfrica

Mitsui in deal with ICEA Lion - 8 months ago, 8 July 19:00

By: Brian Ngugi

Japanese reinsurance firm Mitsui Sumitomo Insurance (MSI) has announced a deal to provide reinsurance capacity for ICEA Lion General Insurance Company as it seeks to tap regional deals.

MSI said through the pact with its subsidiary, MSI Company (Europe) (MSIEU)CEA, ICEA Lion and Mozambican International Commercial and Engineering Seguros will serve as local carriers for MSI’s Japanese customers in the East and Southeast Africa region.

They will issue local policies, respond to accidents and offer risk management services.

“In return, MSIEU will support the underwritten risks by providing reinsurance capacity, underwriting expertise, and assistance in communications with customers,” the Japanese firms said in a statement.

The firm said the arrangement will allow MSI to enhance its services to customers in East and Southeast Africa, where Japanese investment has been particularly active, supported by its government’s commitments in the region.

“The alliance recognises the enormous economic growth potential of the African continent, with its combination of ...
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