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Strengthening Global P&C Insurance
A core pillar of Sompo’s strategy is solidifying its presence in P&C insurance, both in Japan and abroad. In its home market, the company is responding to shifting customer demands and a shrinking market by focusing on brand resilience and deeper customer engagement.
Beyond Japan, Sompo is expanding its footprint in key regions, including the United States, Canada, Europe, and Singapore. The company is also implementing a Center of Excellence model, ensuring best practices are shared across global operations to improve financial resilience and customer service.
Investing in Wellbeing Services
Sompo’s wellbeing business is built on the concept of “connect and be connected,” integrating insurance, health, and financial services to improve customers’ lives. The company is tackling key concerns arising from aging demographics, including health, nursing care, and retirement finances.
A major initiative in this space is Insurhealth, a unique fusion of insurance and health services. Additionally, Sompo is developing a wellbeing data platform in collaboration with RIZAP Group, a Japanese fitness and lifestyle company. This project aims to enhance healthy life expectancy while increasing customer lifetime value (LTV)—a move that benefits both individuals and Sompo’s long-term sustainability.
A Vision for 2030
As of November 2024, Sompo’s market capitalization reached 3.8 trillion yen, surpassing its initial 2024 target of 3 trillion yen. Adjusted consolidated profits are forecasted to hit 270 billion yen, exceeding the 255 billion yen goal. With these strong results, Sompo remains committed to doubling these figures by 2030, setting the stage for continued expansion and innovation in the global insurance and wellbeing sectors.
As Sompo evolves into a Japanese-born, truly global company, its ambition remains clear: to meet customers’ changing needs worldwide with optimal solutions that create lasting impact.
Sompo Group is setting ambitious targets for the future, aiming to double its market capitalization and consolidated profits by 2030. Through its Mid-Term Management Plan (MTMP) for 2024-2026, the company is focused on strengthening its domestic and overseas property and casualty (P&C) insurance businesses while expanding its wellbeing services to address evolving societal needs.
A Strategy Rooted in Social Challenges
As the world undergoes rapid change, Sompo recognizes the need to transform its business model to address aging populations, climate change, geopolitical risks, and digital advancements. The company believes that adapting to these shifts with agility and innovation is key to long-term growth.
With a 136-year legacy built on strategic mergers and acquisitions, Sompo is leveraging its strong foundations to increase resilience and enhance connections between its services and customers. These efforts are designed not just to tackle present-day challenges but to elevate corporate value in the years ahead.
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