Mr. Takeo Inokuchi is Retired Chairman and Chief Executive Officer of one of the leading Japanese insurers, Mitsui Sumitomo Insurance Co. He was also Chairman of Mitsui Marine and Fire before its merger with Sumitomo Marine and Fire (1996-2001). Additionally, during his 38-year career in the insurance industry, he was an executive with Taisho Marine and Fire Insurance Co. (1965-1990).
As a leader in the insurance industry, Mr. Inokuchi promoted deregulation of the insurance industry in Japan for the interest and convenience of consumers. As a result of his efforts, the Japanese market has been transformed into a more competitive market. The deregulated market has been an attraction for foreign insurers as well, and several new general insurance operations have been created.
Mr. Inokuchi spearheaded the merger of the Mitsui and Sumitomo companies, one of the first consolidations in the Japanese market. As a result, a re-shaped insurance industry has emerged offering more diversified and better services for consumers.
Mr. Inokuchi has twice been elected Chairman of The General Insurance Association of Japan, a trade body, for the terms of 1996-1997 and 2000-2001. His efforts focused on compliance and a consumer orientation to enhance the fairness and transparency of the Japanese general insurance industry. He also advocated technology improvements for the industry.
Active in the international aspects of his company's operations for many years, Mr. Inokcuhi launched several offices and operations outside of Japan. His philosophy is based on "mutual benefits", a view that the company's operation should contribute to the development of regional markets by technology transfer in the form of conferences, workshops, and employee training.
He serves on various governmental councils in Japan and has received numerous awards for his service to the industry, including "Personality of the Year" award of the Asian Insurance Industry Awards in 2003.