Mitsui Sumitomo Insurance, a subsidiary of MS&AD Insurance, has disclosed plans to acquire Time Machine Underwriters (TMU).
TMU is a managing general agency that specialises in representation and warranty insurance.
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The financial details of the transaction have not been disclosed.
TMU has been providing underwriting services to Mitsui Sumitomo Insurance since 2020.
The acquisition will see MSI take a majority ownership stake in TMU on 1 August 2025, with plans to acquire the remaining shares at a later date to make TMU a fully owned subsidiary.
MSI stated that it will integrate TMU’s underwriting expertise with its own market presence and underwriting capabilities, both in Japan and internationally.
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By GlobalDataMSI, which is set to merge with Aioi Nissay Dowa Insurance around April 2027, said it will strengthen underwriting and marketing strategies for representation and warranty insurance in the new entity.
In April 2025, reports emerged that MS&AD Insurance Group is planning to invest up to Y700bn ($4.76bn) to grow its North American operations, aiming to double operating profits in the region.
“So the challenge is how to become the top player there,” CEO Shinichiro Funabiki told Bloomberg in an interview.
