Mitsui Sumitomo Insurance Car Insurance Review

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Mitsui Sumitomo Insurance Company Overview

If you’re looking for a company that is been in Canada for very long time, you could consider getting insurance from Mitsui Sumitomo. The company is actually one of the world’s largest diversified trading and investment services Enterprises in the world. Mitsui Sumitomo was established in 1956. One thing that makes this company stand out amongst other insurance companies is the fact that it operates in so many different provinces in Canada. Mitsui Sumitomo insurance company may not make a whole lot of money in Canada, but it is definitely a massive company that is more than capable of being able to pay off any claims that you make on your insurance. In 2015, Mitsui Sumitomo Insurance Company had a total loss of $404,000 in Canada.

Products Offered by Mitsui Sumitomo Insurance

One of the main things that you’re going to have to consider when choosing insurance company are the products that they offer. It is important to make sure that you get products for reasonable costs and it is also important to make sure that you get what you want. Different insurance companies specialize in different insurance packages and premiums. Mitsui Sumitomo has extremely wide range of policies, which is largely why it is so popular around the world. Here are the products that Mitsui Sumitomo currently offers their clients:

  • aviation insurance
  • property insurance
  • casualty insurance
  • marine and water craft
  • construction

Mitsui Sumitomo Car Insurance Review

One thing that might help you to be able to decide if you want to get insurance through Mitsui Sumitomo is the amount of business that they have conducted in Canada. One of the best ways being able to do this is to look at their total written auto premium that they collected. This figure stands for the total amount of money that the company collected from clients throughout the year on their auto insurance premiums. When you look at this number is important to keep in mind that claims of not yet been deducted from this number, which means that it is not the profit that they made. Mitsui Sumitomo’s total written auto premium for 2015 was $3,654,000. Even though this may not be one of the largest numbers in the industry it is definitely a respectable amount for any business to make and you should feel pretty comfortable getting insurance through this company as a result of the extremely large size of this company worldwide.

Mitsui Sumitomo Car Insurance Products:

Financial security:

One of the big reasons that people like to go with the company such as Mitsui Sumitomo is due to the fact that they are so large. Even though the company may not offer a whole lot of products as far as car insurance goes, if you want to get insurance to this company you definitely don’t have to worry about claims. This company has been around since the 17th century and is one of the leading insurance companies in Japan. This is a company that is located in the United States, Japan and in Canada as well as other countries around the world. They are actually the seventh-largest non-life insurer in the world, which is an extremely impressive title.

Partners:

One big reason why you also might want to go with Mitsui Sumitomo is due to the influence that they have on the business world. Mitsui Sumitomo has many different partners in Canada including companies like Toyota, Penske logistics, Penske trucking, Cross chasm technologies Inc. and MCC Industrial Services Ltd. The company is more than happy to be able to set you up with their partners if you are in need of insurance coverage or help with different products. It is definitely nice to have contacts and getting insurance to this company definitely will help to get your foot in the door.

Community participation:

One thing that might make you choose one insurance company over another could be something entirely not business related. Mitsui Sumitomo has made an effort over the years to be to help in the community in which they are located. They have made both financial donations as well as assisted physically and helping to keep local communities in good shape. Another thing that Mitsui Sumitomo has been in order to assist people in the community is developed the Mitsui Canada foundation. The foundation sponsors activities in the local community and projects to help out the relation between the people of Canada and the people of Japan. The Mitsui foundation was founded in 1981 and definitely still has an impact on the community today. Here is a small list of some of the community events that Mitsui Sumitomo has participated in over the years in order to help out Canada and make it a better place:

  • The Calgary Foundation (for flood victims and assisting with rebuilding after the flood)
  • Toronto’s Corporate Cleanup Day (garbage pickup)
  • Great Canadian Shoreline Cleanup at Vancouver (cleaning the shoreline so it is safe for people)
  • The Canadian Red Cross (Relief to help after a flood in Saskatchewan in 2014)

Total Sales/ ranking by province

Before you go out and decide they want to get insurance through Mitsui Sumitomo insurance company, you might first want to consider how much business Mitsui Sumitomo does in your province. It is a good idea to consider this as it may be a little bit more difficult in some areas to be able to get insurance through this company. It is also important to keep in mind that in the areas that don’t do much business, it is likely that there isn’t a ton of good policies available. Keeping this in mind, here are the direct written premiums for Mitsui Sumitomo insurance company in 2015 and a comparison of their direct written premiums to the top 30 insurance companies in each province:

Province:Direct Written Premiums 2015Ranking on Top 30
Newfoundland40,00022
Prince Edward IslandN/AN/A
Nova Scotia25,000N/A
New Brunswick18,000N/A
Quebec295,000N/A
Ontario2,701,000N/A
Manitoba27,00022
Saskatchewan600028
Alberta490,000N/A
British Columbia43,00024
Yukon Territory200029
Northwest Territories600030
Nunavut100028

Resources:

https://en.wikipedia.org/wiki/Mitsui_Sumitomo_Insurance_Group

http://www.mitsui.com/ca/en/company/index.html \

https://www.carinsurancecomparison.com/mitsui-sumitomo-car-insurance-review/

http://www.mitsui.com/ca/en/sustainability/1217306_9648.html