Mitsui Sumitomo Insurance Co. said Monday it has decided to promote Senior Executive Officer Yasuyoshi Karasawa to president next April 1, succeeding Toshiaki Egashira who will become chairman.
Mitsui Sumitomo Insurance, Aioi Insurance Co. and Nissay Dowa General Insurance Co. will integrate in April and the three nonlife insurers will operate under MS&AD Insurance Group Holdings Inc.
Egashira, 61, is expected to take the post of president of the holding company.
Karasawa, 59, joined one of the predecessors of Mitsui Sumitomo Insurance in 1975 and has been senior executive officer of the insurer since April last year.
