Sumitomo Life Insurance Co - Company Profile
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Sumitomo Life Insurance Co (Sumitomo Life) offers a range of individual and group life insurance products. It offers shared-value insurance, comprehensive protection insurance, income assurance insurance, specified disease protection insurance, single-premium whole life insurance, and level-premium whole life insurance. It also offers nursing care insurance, retirement plans, work disability insurance, medical insurance, children's insurance, and individual and group annuities. The company markets and distributes products to individuals and corporate customers through insurance outlets, sales representatives, the Internet, and the bancassurance network comprising banks and the Japan Post Group. It operates in Japan, China, Indonesia, Vietnam, Singapore, and the US. Sumitomo Life is headquartered in Osaka, Japan.
Headquarters
Japan
Address
1-4-35 Shiromi, Chuo-ku, Osaka City, 5408512
Website
www.sumitomolife.co.jp
Telephone
81 6 69371435
No of Employees
44,049
Industry
Financial Services
Revenue (2023)
$31.2B
Sumitomo Life Insurance Co premium industry data and analytics
Products and Services
| Products | Services |
|---|---|
| Shared-Value Insurance | Asset Management Services |
| Comprehensive Protection Insurance | |
| Income Assurance Insurance | |
| XYZ | |
| XYZ | |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2024 | Acquisitions/Mergers/Takeovers | In March, the company acquired a 100% stake in SINGAPORE Life Holdings. |
| 2024 | Acquisitions/Mergers/Takeovers | In March, the company acquired a 25.9% stake in Singapore Life Holdings and the two debt instruments from Aviva. |
| 2024 | Acquisitions/Mergers/Takeovers | In January, the company acquired a 35.5% stake in Singapore Life Holdings (Singlife) from TPG Inc. |
Competitor Comparison
| Key Parameters | Sumitomo Life Insurance Co | Nippon Life Insurance Co | MS&AD Insurance Group Holdings, Inc. | Sompo Holdings, Inc. | Meiji Yasuda Life Insurance Co |
|---|---|---|---|---|---|
| Headquarters | Japan | Japan | Japan | Japan | Japan |
| City | Osaka City | Osaka | Chuo-Ku | Shinjuku-Ku | Tokyo |
| State/Province | Osaka | Osaka | Tokyo | Tokyo | Tokyo |
| No. of Employees | 44,049 | 70,714 | 38,367 | 48,956 | 47,385 |
| Entity Type | Private | Private | Public | Public | Private |
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Masahiro Hashimoto | Chairman; Executive Officer | Executive Board | 2021 | 67 |
| Yukinori Takada | Chief Executive Officer; Director; President; Executive Officer | Executive Board | 2021 | 59 |
| Takeshi Eimori | Senior Managing Executive Officer; Executive Officer; Director | Executive Board | 2023 | 59 |
| Hideyuki Sumi | Executive Officer; Senior Managing Executive Officer; Group Sustainability Officer; Director | Executive Board | 2023 | 60 |
| Katsunori Hirai | Managing Executive Officer | Senior Management | 2021 | 61 |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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