Mikio Okumura
Profile
Performance in office
Tenure
Tenure
Background
He joined Yasuda Fire and Marine Insurance in 1989. He moved to FinTech Global in 2006 and became Director and head of Investment Banking in December 2007. He returned to Sompo Japan Nipponkoa Holdings as an Executive Officer in April 2015, becoming Director and Executive Officer in June 2016, Director, Managing Executive Officer and Group CSO in April 2019 and Senior Managing Executive Officer in April 2021. His career includes nine years outside the insurance industry before returning.
Selection
In April 2022 he succeeded Kengo Sakurada as Representative Executive Officer and President (Group COO). In September 2022, his first year, Hurricane Ian caused ¥55.7 billion in losses, and net income attributable to owners of the parent for the fiscal year ended March 2023 was ¥26.4 billion, down about 88% from ¥224.8 billion the year before. In January 2024 the Financial Services Agency issued business improvement orders to Sompo Japan and SOMPO Holdings, and in April that year he also became Group CEO.
Initiatives
In October 2022 the group transferred an additional ¥200.0 billion in capital to the SI division of its overseas insurance business. In rebuilding governance after the Bigmotor scandal, it set a policy of reducing strategic shareholdings to 20% of adjusted consolidated net assets by fiscal 2030. The SI Commercial division raised insurance rates by 5.4% in fiscal 2023. Net income attributable to owners of the parent was ¥416.0 billion in the fiscal year ended March 2024 and ¥640.1 billion in the FY ended March 2026.
Career
Career
Yasuda Fire and Marine Insurance
| Date | Position |
|---|---|
| Apr 1989 | Joined |
Fintekku Global
| Date | Position |
|---|---|
| Apr 2006 | Joined |
| Dec 2007 | Director, General Manager, Investment Bank Headquarters |
Sompo Holdings
| Date | Position |
|---|---|
| Apr 2015 | Executive Officer, Insurance Japan Nippon Koa Holdings |
| Jun 2016 | Director, Executive Officer |
| Apr 2019 | Director, Managing Executive Officer |
| Apr 2021 | Senior Managing Corporate Executive Officer |
| Apr 2022 | Representative Corporate Executive Officer, President |
| Apr 2024 | Director, Representative Corporate Executive Officer, President |