Marsh Japan completes takeover of Mitsubishi Electric Insurance Service

Marsh Japan has named Ichiro Seino as president and CEO of MEIS. Credit: T. Schneider/Shutterstock.com.

Marsh, part of Marsh McLennan, has concluded its previously announced purchase of Mitsubishi Electric Insurance Service, an insurance agency headquartered in Tokyo.

Financial specifics of the deal remain undisclosed.

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The deal was announced in July.

The acquired business will now operate under the name MEIS Insurance Services (MEIS) as part of Marsh Japan.

MEIS was established in 1999 and provides insurance options across several commercial lines including cargo, commercial auto, commercial umbrella, cyber, directors and officers, liability, property and workers compensation.

Other offerings include non-life and life insurance, along with medical and nursing care coverage.

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With the acquisition finalised, Marsh Japan has named Ichiro Seino as president and CEO of MEIS.

Seino has worked with Marsh Japan since 1995, and has held the position of automotive industry leader for Marsh Asia since 2021.

Katsuya Furuta, who had been leading Mitsubishi Electric Insurance Service since 2023, will take on the role of chairman at MEIS.

Seino said: “I am honoured to lead the new MEIS at such a significant turning point for the company. Our foremost priority is to continue to provide the reliable and quality service our clients have long trusted. Through access to Marsh’s global resources, services and expertise, we will now deliver even greater value to our clients across Japan.”

Marsh Japan was founded in 1955 and acts as an insurance broker and risk advisor to a wide range of organisations throughout Japan.

Marsh McLennan Japan CEO Chikara Nakanishi stated: “I am delighted to welcome MEIS’ colleagues and their clients to Marsh. Combining Ichiro’s leadership, Marsh’s global network and risk management expertise with MEIS’s long-standing reputation, the addition of the MEIS team strengthens our offering and will deliver greater value to clients through a broader product portfolio and improved service delivery.”