MSI invests in Asian health insurance MGA

Mitsui Sumitomo Insurance , part of the MS&AD Insurance Group, has made a strategic investment in Serenity Health Partners Pte. Ltd., a Singapore-based health insurance-focused company. This investment, made through MSI’s Singapore subsidiary, MSIG Asia Pte. Ltd., marks MSI’s entry into a partnership aimed at expanding its presence in the Asian health insurance market.

Starting in October 2024, pending regulatory approval, MSI plans to launch new health insurance products in Singapore, specifically targeting corporate groups in the ASEAN region. The company intends to expand these offerings to Indonesia and Vietnam in 2025. The move is part of MSI’s broader strategy to grow its healthcare-related business in Asia, where there is a rising demand for quality healthcare services driven by a growing middle-income population and increased awareness of health and wellness.

About Serenity Health Partners

Founded in 2024 by industry veterans Jonathan James and Derek Goldberg, Serenity Health Partners is based in Singapore and focuses on health insurance product design, advisory services, third-party administration (TPA), and network management. Serenity aims to operate as a Managing General Agent (MGA) in Singapore, pending regulatory approval, providing specialized health solutions across the region.

MSI’s Strategy in Asia

MSI is the largest non-life insurance group in the ASEAN region by gross written premiums and has identified health insurance as a key area for growth. The company aims to diversify its distribution channels, including digital, and develop partnerships across various industries to strengthen its market position in Asia.

With a network spanning 41 countries, MSI leverages over a century of experience to provide insurance solutions that address diverse global risks. The investment in Serenity Health Partners aligns with MSI’s strategy to expand its footprint and capabilities in the growing Asian health insurance market.