Masatoshi Sato
Profile
Performance in office
Tenure
Tenure
Background
He joined Yasuda Fire and Marine Insurance in 1972 and, after serving as Yamanashi branch manager, General Manager of System Planning and head of the President's Office, became a Director in 2000 and Director and Managing Executive Officer in 2002. Yasuda Fire merged with Nissan Fire and Marine Insurance in 2002 to form Sompo Japan Insurance, and Sato became its Representative Director and President in June 2006. A Yasuda Fire career employee, he had passed through different parts of the company: branches, systems and the President's Office.
Selection
In April 2010 the holding company NKSJ Holdings was formed through a joint share transfer by Sompo Japan Insurance and Nipponkoa Insurance, and Sato, from the former Sompo Japan, became its first President. Makoto Hyodo, President of Nipponkoa, became Representative Director, Chairman and CEO, so the group started with former presidents of both companies side by side. The holding company listed on the First Sections of the Tokyo and Osaka stock exchanges on the day it was established.
Initiatives
Sompo Japan and Nipponkoa were kept as separate companies under the holding company, and only the life insurance subsidiaries were merged first, in October 2011, unified as NKSJ Himawari Life. The non-life operating companies did not become one, as "Sompo Japan Nipponkoa Insurance," until September 2014, four years and four months after the holding company was established. The group posted a net loss of ¥12.9 billion in the fiscal year ended March 2011, the first year of the integration, and a net loss of ¥92.2 billion in the FY ended March 2012, when Thai flood claims and the reversal of deferred tax assets coincided.
Career
Career
Sompo Japan Insurance
| Date | Position |
|---|---|
| Apr 1972 | Joined Yasuda Fire and Marine Insurance |
| 1994 | Branch Manager, Yasuda Fire and Marine Insurance Yamanashi |
| 1996 | General Manager, System Planning Department, Yasuda Fire and Marine Insurance |
| 1999 | General Manager, President's Office, Yasuda Fire and Marine Insurance |
| 2000 | Director, Yasuda Fire and Marine Insurance |
| 2002 | Director, Managing Executive Officer, Yasuda Fire and Marine Insurance |
| Jun 2006 | Representative Director, President, Executive Officer, Insurance Japan |
| Jul 2010 | Chairman, Insurance Japan |
Sompo Holdings
| Date | Position |
|---|---|
| Apr 2010 | Representative Director, President |
| Apr 2012 | Stepped down as President |