Mitsui Sumitomo Insurance Company Europe (MSIEU) has signed strategic alliance agreements with ICEA LION General Insurance Company in Kenya, and International Commercial and Engineering Seguros (ICE) in Mozambique to bolster its network in Africa.
MSIEU operates as a wholly owned subsidiary of Japanese insurance giant Mitsui Sumitomo Insurance (MSI).
Pursuant to the terms of these agreements, MSIEU will offer MSI’s services to Japanese businesses in East and Southeast Africa, Japanese as well as Asian and Chinese companies.
As per the agreement, ICEA LION and ICE will act as local insurance carriers in the region, with a designated team serving the company’s Japanese customers. The team will be responsible for issuing local policies, responding to accidents and providing risk management services.
A designated office space will be reserved for MSIEU in each of the company’s offices.
Moreover, MSIEU will support the underwritten risks by delivering its reinsurance capacity, underwriting know-how and assistance in the communication with customers.