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Japan's MS&AD eyes closure of overseas locations, CEO says

Restructuring meant to shore up profits as insurer aims for 10% ROE groupwide

MS&AD Insurance Group plans to continue strengthening its overseas business despite some poorly performing locations.   © Reuters

TOKYO -- Japan's MS&AD Insurance Group Holdings is considering shuttering some overseas locations to shore up profits, as adjusted return on equity (ROE) for fiscal 2022 indicated that the group is falling behind on its medium-term goals.

MS&AD's president and CEO Noriyuki Hara revealed the business plan in an interview with Nikkei, noting the goal of a groupwide adjusted ROE of 10% by fiscal 2025 and an ROE of at least 6% for each overseas business by the same point.

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