Shinichiro Funabiki
Profile
Performance in office
Tenure
Tenure
Background
He joined Sumitomo Marine and Fire Insurance in 1983. He became an Executive Officer of Mitsui Sumitomo Insurance in April 2013, Managing Executive Officer in April 2015 and Director and Senior Executive Officer in April 2017, and became President of the company in April 2021. Presidents of the holding company have alternated between alumni of the former Taisho Marine and the former Sumitomo Marine, and Funabiki, following Yasuyoshi Karasawa, is a Sumitomo Marine recruit.
Selection
He became President in June 2024, succeeding Noriyuki Hara. In the fiscal year ended March 2024, the year before he took office, ordinary income was ¥6,572.9 billion and net income ¥369.2 billion. Just before he took over, the Japan Fair Trade Commission had imposed a ¥1.3 billion surcharge over premium coordination, and the company was also under pressure to tighten its controls in response to the Bigmotor affair and information leaks.
Initiatives
He accelerated sales of strategic shareholdings, cutting a balance worth ¥3.6 trillion at market value at the end of March 2024 to ¥2.3 trillion by the end of September 2025. In the fiscal year ended March 2025, consolidated ordinary income was ¥6,660.8 billion and net income attributable to owners of the parent was ¥691.6 billion, up from ¥369.2 billion the year before. For the fiscal year ended March 2026 the company switched to International Financial Reporting Standards, reporting consolidated revenue of ¥6,436.0 billion and net income of ¥787.3 billion.
Career
Career
MS&AD Insurance Group
| Date | Position |
|---|---|
| Apr 1983 | Joined Sumitomo Marine and Fire Insurance |
| Apr 2013 | 三井住友海上 執行役員 (translation pending) |
| Apr 2015 | Managing Executive Officer |
| Apr 2017 | Director, Senior Managing Executive Officer |
| Apr 2021 | 三井住友海上 取締役社長 (translation pending) |
| Jun 2024 | President, MS&AD |