MSIG Insurance Singapore: Company Culture, Benefits & Leadership

MSIG Insurance (Singapore) Pte. Ltd. is a leading general insurer in Singapore, with a solid presence in the country for over 100 years. The company is a subsidiary of MSI and a member of the MS&AD Insurance Group. MSIG Singapore is unique as a company that has drawn upon a rich blend of best practices and expertise from the consolidation of several successful mergers. The company holds an A+/Stable financial rating by Standard & Poor's.

This blog post will provide a comprehensive guide to working at MSIG Insurance Singapore. Aniday will delve into the rich tapestry of the company's background, illuminating its history, vibrant culture, enticing benefits, and visionary leadership.

Company History

MSIG Singapore was founded in 1910 as the Singapore Branch of Mitsui & Co., Ltd. In 1970, the company became a subsidiary of Mitsui Marine & Fire Insurance Co., Ltd. (now MSI). 

In 2005, MSIG Singapore merged with Sumitomo Marine & Fire Insurance Co., Ltd. to form MS&AD Insurance Group. In 2018, MSIG Singapore acquired First Capital Insurance Limited, a local insurer.

The company underwent substantial growth over the years. 

• During the 1920s-1950s, it expanded into Penang, Hong Kong, and Thailand. 

• In the 1970s, it focused on diversification which led to the introduction of life and motor insurance. 

• In the 1990s, it expanded internationally into China and Vietnam. 

• During the 2000s, the company merged with Sumitomo Marine & Fire Insurance Co. Ltd in 2005 and acquired First Capital Insurance Limited in 2018.

Fast forward to today, with its diverse offering of goods and services for individuals and businesses, it has become one of Singapore’s largest insurers.

Diversity of Offerings

As one of the few foreign-based general insurers in Singapore, MSIG offers a wide range of insurance solutions across personal and commercial lines. This diversity is made possible through well-established distribution networks and partnerships with global brokers, agencies, financial institutions, motor franchises, and local and Japanese corporate clients. Working at MSIG Singapore means being part of a team that contributes to the resilience and security of individuals and businesses alike.

Company Culture

MSIG Singapore cherishes its employees and is dedicated to fostering a diverse and inclusive workplace, guided by the following core values:

• Customer Centric: MSIG Singapore is dedicated to exceptional service, empowering employees for customer-centric decisions.

• Innovation: A digital innovation leader, MSIG Singapore fosters creativity and encourages employees to think beyond boundaries.

• Collaboration: With a team-oriented ethos, MSIG Singapore promotes collective efforts, creating a supportive environment.

• Integrity: Upholding the highest ethical standards, MSIG Singapore expects employees to conduct business with integrity.

Employee Benefits

MSIG Singapore offers a comprehensive benefits package to its employees, including:

Compelling Compensation

MSIG Singapore offers competitive salaries and benefits for its employees, from medical to life and disability coverage, paid time off, and a retirement savings plan.

Investment in Training and Development

MSIG Singapore demonstrates a commitment to employee growth by investing in various training programs and development opportunities. Employees are empowered to enhance their skills and knowledge through these initiatives.

Harmonizing Work and Life 

MSIG Singapore is dedicated to promoting a healthy work-life balance for its employees. The company provides various programs and initiatives to support employees to effectively manage their professional and personal lives.

MSIG Singapore's benefits package is designed to help employees reach their full potential and achieve their professional and personal goals.

Leadership

Mack Eng is the Chief Executive Officer (CEO) of MSIG Insurance Singapore. He has 30 years of experience in the insurance industry, having held senior roles at various companies. Under his leadership, MSIG Singapore has consistently achieved growth and success.

Mack, a seasoned strategic thinker, boasts a compelling history of success. His unwavering commitment extends to delivering exceptional customer service and fostering a workplace that champions diversity and inclusivity.

Here are some noteworthy accomplishments attributed to Mack:

• Led MSIG Singapore to achieve growth and success

• Garnered numerous prestigious awards for his previous companies

• Holds a Bachelor of Business Marketing (Honors) degree from the University of Hawaii at Manoa (USA)

• Is an IBF Fellow (Institute of Banking & Finance, Singapore)

• Is an associate of CII (Chartered Insurance Institute, UK), Fellow of Life Management Institute (LOMA, USA), Associate of Customer Service (LOMA, USA)

• Diploma holder in Direct Marketing (Credit) from the Institute of Direct Marketing, London

Mack's leadership is characterized by his strategic vision, unwavering dedication to customer satisfaction, and commitment to fostering a diverse and inclusive workplace.

Conclusion

In summary, MSIG Singapore offers more than a job – it's an opportunity to contribute to a century-long legacy, embrace a forward-thinking culture, and join a global success story, whether you're a seasoned professional or new to the industry. 
If you are looking for a challenging and rewarding career, Aniday highly recommends MSIG Singapore as a great place to start.