Inauguration of MS First Capital and Global Partnership of Mitsui Sumitomo Insurance and Fairfax
Held at the Ritz-Carlton Millenia Singapore on Friday 23 March 2018, over 400 guests, including partners and brokers, attended the grand inauguration of MS First Capital and to celebrate the global partnership of Mitsui Sumitomo Insurance (“MSI”) and Fairfax.
The highly anticipated kagami-biraki (or sake barrel breaking ceremony) had the senior management teams from MSI, MS First Capital and Fairfax invited on stage to officialise the inauguration by breaking the lids of the barrels. An auspicious activity, the ceremony represents good harmony and fortune to all parties.
Senior management representatives with their sake after the sake barrel breaking ceremony.
L to R: Tetsuya Adachi, Executive Director, MS First Capital; Edward Lee, Independent Director, MS First Capital; Arumugam Muthu, Independent Director, MS First Capital; Hideyuki Tanaka, Chairman, MSIG Asia; Yasuyoshi Karasawa, Chairman of the Board, Mitsui Sumitomo Insurance Co. Ltd; Ramaswamy Athappan, CEO, MS First Capital; Prem Watsa, Chairman & CEO, Fairfax Financial Holdings; Masahiro Matsumoto, Head of International Operations, Mitsui Sumitomo Insurance Co. Ltd; Dr. Ker Sin Tze, Independent Director, MS First Capital; Ajit Nair, Independent Director, MS First Capital; Alan Wilson, CEO, MSIG Asia; Tadashi Yamada, General Manager, Head of Planning & Intelligence Section, Mitsui Sumitomo Insurance Co. Ltd.
A toast to the partnership!
L to R: Hideyuki Tanaka, Chairman, MSIG Asia; Yasuyoshi Karasawa, Chairman of the Board, Mitsui Sumitomo Insurance Co. Ltd; Ramaswamy Athappan, CEO, MS First Capital; Ajit Nair, Independent Director, MS First Capital; Prem Watsa, Chairman & CEO, Fairfax Financial Holdings is in the background.
A slew of Japanese inspired entertainment continued throughout the night, including Taiko drummers, a synchronised sword display against an animated backdrop and a sand animator illustrating the history of the companies and how they come together to grow from strength to strength.
Yasuyoshi Karasawa, Chairman of the Board, Mitsui Sumitomo Insurance Co. Ltd
“I am very glad to welcome First Capital as a new member to the MSI Group. I am happy to announce that the company is now renamed as MS First Capital, and will continue to be managed by the existing Executive team led by Mr. Athappan. Together, our group will work continuously to provide you, our clients, with the best solution to your business.” said Mr Yasuyoshi Karasawa, Chairman of the Board, Mitsui Sumitomo Insurance Company, Limited.
Prem Watsa, Chairman & CEO, Fairfax Financial Holdings
“It is a very happy occasion for MSI, First Capital and Fairfax. Mr Athappan described it as a triple win; a win for MSI, a win for First Capital and a win for Fairfax. This valuable partnership has only been a few months since December but we really feel that the partnership is going very well, and I would like to thank Karasawa san, Matsumoto san and all the other MSI colleagues. We are all focused on providing outstanding service for you, our customers. Mr Athappan will continue to run MS First Capital and Fairfax Asia. We are now officially partners with Mitsui Sumitomo Insurance and are excited about building on to the global partnership.” said Prem Watsa, Chairman & CEO, Fairfax Financial Holdings.
About the companies:
MS First Capital
MSIG Holdings (Asia) Pte Ltd
Mitsui Sumitomo Insurance Co. Ltd
For more information, please contact the MSIG Asia communications team.