2003

Marubeni Group Company Takes Out Allianz's Insurance SARS-Related Expenses and Offers Insurance

Dec. 10. 2003
Marubeni Corporation

Marubeni Safenet Co., Ltd. (Marubeni Safenet: head office; Chiyoda-ku, Tokyo, president; Takeshi Yoshihiro), which is one of our subsidiaries engaged in the insurance agency business, has started offering SARS Expense Insurance developed by Allianz Fire & Marine Insurance Japan Ltd. (Allianz: head office; Minato-ku, Tokyo, CEO; Alexander Ankel) across the country.

The insurance offers protection for small to medium-sized businesses where the office area and number of employees do not exceed a certain limit. It is anticipated that it will be difficult for small to medium-sized companies to pay the necessary expenses that may be incurred if an employee becomes infected with SARS. Marubeni Safenet plans to conduct vigorous sales activities for insurance products targeting small and mid-sized companies where we believe there is a strong demand for this product. Marubeni Safenet also plans to acquire more than one thousand clients within the next year.

In fact, one of our group companies concluded the first contract for SARS Expense Insurance on December 8, the day that Allianz launched the insurance product. The employees of the company make frequent business trips to areas that have been designated by WHO as SARS-infected areas, and the company was considering possible measures to address SARS-related risks. It is significant for the company to be able to transfer part of its risk to a party outside the company by taking out the insurance.
We plan to encourage our group companies to offer the insurance to companies whose employees make frequent business trips to areas that have been designated by WHO as SARS-infected areas.

About Marubeni Safenet (http://www.m-inc.co.jp)
Marubeni Safenet is an insurance agency that deals with insurance products from twenty-four non-life insurance companies and twelve insurance companies. The company was established in 1968, and is a wholly-owned subsidiary of Marubeni Corporation.
With a wealth of experience in addressing different kinds of risks, Marubeni Safenet has considerable expertise in risk solutions, providing corporate customers with insurance products such as trade credit insurance that covers the company's bad debt risks.

Name          : Marubeni Safenet Co., Ltd. (Marubeni Safenet)
Established  : 1968
Head office : Yasuda Green Park, 2-9, Kanda-kinshicho, Chiyoda-ku, 
                    Tokyo  101-0054, Japan
Capital       : 300 million yen

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