Mitsui Sumitomo Insurance Group Holdings Inc. and two other nonlife insurers hope to double their combined overseas sales and will try to avoid layoffs after they integrate in April 2010, top executives of the three companies say.
Mitsui Sumitomo Insurance Group President Toshiaki Egashira said that by merging their operations, his firm, Aioi Insurance Co. and Nissay Dowa General Insurance Co. will have overseas bases in 38 countries.
"We will aim to earn ¥500 billion in net premium revenues from overseas operations," Egashira said.