Mitsui Sumitomo Insurance Acquiring Time Machine Underwriters to Enhance Representation and Warranty Insurance Strategies

Mitsui Sumitomo Insurance plans to acquire Time Machine Underwriters, a managing general agency focusing on representation and warranty insurance. The financial terms of the deal remain undisclosed. TMU has been offering underwriting services to MSI since 2020.

MSI will take a majority stake in TMU on August 1, 2025, with intentions to eventually own the entire company. The acquisition aims to blend TMU’s underwriting expertise with MSI’s market presence and capabilities, reinforcing their operations in Japan and globally. The merger with Aioi Nissay Dowa Insurance in 2027 will enhance representation and warranty insurance strategies.

MS&AD Insurance Group is reportedly investing up to Y700bn ($4.76bn) to expand its North American operations, targeting a doubling of operating profits in the region. CEO Shinichiro Funabiki expressed the goal of becoming a top player in the North American market. The news was originally reported by Life Insurance International.

Read more at Yahoo Finance: Mitsui Sumitomo to buy Japan’s TMU