News Release

Commencement of Insurance Agency Services in China(1/1)


August 3rdC2010

Sumitomo Mitsui Banking Corporation




Commencement of Insurance Agency Services in China



TOKYO, August 3rd, 2010 --- Sumitomo Mitsui Banking Corporation (SMBC, President: Masayuki Oku) announced today that Sumitomo Mitsui Banking Corporation China Limited (SMBCCN, President: Kazunori Okuyama), a wholly owned subsidiary of SMBC, recently launched the insurance agency services in China, the first for a Japanese bank in China.


SMBCCN has an advisory team dedicated to offering consulting services to meet a wide range of corporate customer needs, including strategy planning, business restructuring, financing, reinforcement of marketing capability, research on industries, corporate customers and potential business partners, and hedging risks on receivables.

The inclusion of insurance products will enable SMBCCN to better serve our corporate clients to cover risks in China where our clientsf businesses are growing and needs are diversifying.


The insurance agency services are available only in Shanghai for now, but Beijing and other areas where Mitsui Sumitomo Insurance (China) Company, Limited has sales offices will be steadily added to the list of locations.


SMBC and SMBCCN are continuously seeking ways to expand and strengthen our ability to create solutions for our clientsf wide spectrum of needs in China and the addition of the insurance agency services will further enhance our consulting services.







Outlines of Insurance Agency Services

Handling Insurance Company

Mitsui Sumitomo Insurance (China)Company, Limited


Commercial property insurance, liability insurance, transportation cargo insurance (overland, marine, air), etc.

Target corporation

Locally-incorporated companies and offices in Shanghai (foreign companies including Japanese companies), regional enterprises*

 (*)Companies and assets in Japan are not covered

Handling office

SMBCCN Head office (Shanghai)**

(**)The services will be expanded to Beijing and other areas where Mitsui Sumitomo Insurance (China) Company, Limited has sales offices.



                              SMBC Public Relations Dept. @Mr.Hattori       



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