Yasuyoshi Karasawa
Profile
Performance in office
Tenure
Tenure
Background
He joined Sumitomo Marine and Fire Insurance in 1975. He became Executive Officer and General Manager of the Corporate Planning Department at Mitsui Sumitomo Insurance in April 2004 and Director and Managing Executive Officer in April 2006. He became President of the company in April 2010. Whereas Toshiaki Egashira came from the former Taisho Marine, Karasawa was a Sumitomo Marine recruit, and from here began the pattern of presidents coming alternately from the two pre-merger predecessors.
Selection
In April 2010 he succeeded Toshiaki Egashira as President of the holding company. That same month, Aioi Insurance and Nissay Dowa General Insurance came under its umbrella through share exchanges, and the company name changed to MS&AD Insurance Group Holdings. In October that year the two merged to form Aioi Nissay Dowa Insurance. The work of re-integrating three companies of different origins began the moment he took office.
Initiatives
In September 2013, Mitsui Sumitomo Insurance, Aioi Nissay Dowa Insurance and Mitsui Sumitomo Aioi Life Insurance signed an agreement on reorganization by function and began consolidating products, claims services and systems function by function. It was an efficiency drive that kept the two core companies as separate legal entities rather than merging them. In February 2016 he made Amlin plc, a major specialty insurer in the Lloyd's market, a subsidiary. The price of about ¥642.0 billion made it one of the largest overseas acquisitions by a Japanese non-life insurer at the time.
Career
Career
Mitsui Sumitomo Insurance
| Date | Position |
|---|---|
| Apr 1975 | Joined Sumitomo Marine and Fire Insurance |
| Apr 2004 | Executive Officer, General Manager, Corporate Planning Department |
| Apr 2006 | Director, Managing Executive Officer |
| Apr 2010 | President, Executive Officer |
| Apr 2016 | Chairman, Executive Officer |
| Apr 2021 | Standing Advisor |
MS&AD Insurance Group
| Date | Position |
|---|---|
| Apr 2008 | Director |
| Apr 2010 | Director, Executive Officer |
| Jun 2014 | President, Executive Officer |
| Jun 2020 | Chairman, Executive Officer |
| Jun 2020 | Stepped down as President |