Insurance giant looks to grow Asia business in three areas

Singapore

FOLLOWING the completion of a US$5.3 billion takeover of British specialist insurer Amlin last year, Japan's largest non-life insurer MS&AD is looking to grow its Asia business in three areas identified as having the most potential - terrorism and political violence coverage, marine cargo speciality, and energy and industry.

Faced with a shrinking domestic market the group wants to derive at least 50 per cent of its total profit from overseas, a goal which is also in line with its aim of transforming itself into a global player.

Taking into account Amlin's contributions in FY2015, Japan accounted for 74 per c…