Shuzo Sumi joined Tokio Marine & Fire Insurance Co., Ltd. in 1970 and has dedicated his whole career spanning over 46 years to the development of the insurance industry of Japan and the world. At Tokio Marine, he mainly spent his career in commercial underwriting and product development.
After becoming General Manager of the Commercial Lines Underwriting Department in 1998, Mr. Sumi has led the group as a central figure in the overseas expansion of the Tokio Marine Group. In 2000, Mr. Sumi was assigned as Director and head of European business in London, and subsequently became President & Chief Executive Officer of Tokio Marine Group in 2007. With subsequent acquisitions of U.S and European insurance companies, Mr. Sumi has transformed the Tokio Marine Group into a truly major global insurance group.
In June 2011, he was appointed Chairman of The General Insurance Association of Japan at a difficult time in the wake of the East Japan Earthquake, and led the initiative to further develop the Japanese non-life insurance industry by focusing on modernizing Japan’s earthquake insurance regime to help make a resilient society as well as providing relief for people affected by the disaster.
After becoming Chairman of Tokio Marine Group, he has led research in the fields of climate change and natural catastrophe risks in his capacities as Vice Chairman of The Geneva Association which comprises major global insurance companies, and as Co-Chair of the Extreme Events and Climate Risk Working Group.
Recently, his activities go beyond the insurance industry, and he serves as directors of major industry groups of Japan and as independent directors of major Japanese companies.