Strategy/Capital
SOMPO’s Capital as a Source of Competitiveness : History
In 1888, Tokyo Fire Insurance Company, one of the Group’s forerunners, was established as Japan’s first fire insurance company with the mission of protecting people from the threat of fire. This sense of mission has been passed down throughout our 130-year history, and is linked to our current Management Philosophy. As social issues change and become more complex, we have expanded the Group’s business domains to include life insurance, nursing care, digital, and more with P&C insurance at the core, taken on the challenge of solving a wide range of social issues, and cultivated our strengths—namely, trust and responsibility from society. The numerous capital assets we have amassed by leveraging these strengths are the source of our competitiveness today.
Tokyo Fire Insurance Company was established in 1888. It formed the Tokyo Fire Brigade in the spirit of protecting customers from fire 24 hours a day, 365 days a year.
1992
Established the Department of Global Environment (the first for a Japanese financial institution)
We established a department dedicated to the companywide promotion of solutions to global environmental issues, and have proactively addressed environmental issues through collaboration with stakeholders.
1996
Entered the life insurance business
We entered the life insurance business when Yasuda Fire & Marine (now Sompo Japan) outsourced the agency and administrative operations of INA Life Insurance and established Nippon Fire Partner Life Insurance and Koa Fire & Marine Magokoro Life Insurance.
2003
Launched full-fledged initiatives for diversity (the first for a Japanese financial institution)
Starting with the establishment of a department dedicated to the promotion of active participation by women, we have constructed systems and frameworks to support the active participation of diverse human resources.
2010
Established NKSJ Holdings (now SOMPO Holdings)
We started by improving the profitability of existing lines of business, before proactively shifting management resources to growth areas to build a stable earnings base.
2015
Entered the nursing care business in earnest
Through our entry into the nursing care business in earnest, we have invested in the future through efforts such as confronting the social issues of a low birthrate and an aging population, providing nursing care services that leverage technology to provide both high productivity and quality, and opening the Future Care Lab in Japan.
2016
Established SOMPO Digital Labs
We established SOMPO Digital Labs in Tokyo, Silicon Valley, and Tel Aviv to function as research and development bases for digital strategies, and have constructed a system to realize the digital transformation (DX) of the entire Group through information gathering and networking.
2017
Acquired Endurance (now SOMPO International)
Through disciplined M&As, we have expanded the scale of our business and reorganized our subsidiaries to build a global platform that has contributed to the diversification effects of the Group along with increased revenue and high profit growth.
2019
Established Palantir Technologies Japan
We jointly established Palantir Technologies Japan together with Palantir to achieve security, health, and wellbeing for Japanese companies and society through big data analysis by leveraging each other’s strengths.
2020
Established Headquarters for Promoting New Work Styles
We have positioned the promotion of new work styles as the biggest project in our 130-year existence to transform our corporate culture, and have established the Headquarters for Promoting New Work Styles with the Group CEO at its head with the aim of becoming a group of people who share the three core values through the employees’ pursuit of My Purpose.
2021
Launched Mid-Term Management Plan, Announced SOMPO’s Purpose
SOMPO launched a Mid-Term Management Plan to achieve its purpose: to create a society in which every person can live a healthy, prosperous and happy life true to themselves by way of a Theme Park for Security, Health & Wellbeing.
2021
Concluded the Agreement on Comprehensive Mutual Cooperation to Solve Social Issues (National Institute of Advanced Industrial Science and Technology)
With the aim of contributing to the growth of the Japanese economy through the promotion of joint research and the social implementation of its results, we concluded an agreement to solve social issues with the National Institute of Advanced Industrial Science and Technology, one of the largest research institutes in Japan.
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