A solid business franchise and large market share, backed by relationships with both the Mitsui and Sumitomo groups; Good underwriting performance; and Extremely strong capitalization. Deterioration of operating environment, with heated price competition mainly in auto insurance, amid stagnant growth in the domestic non-life insurance market. Mitsui Sumitomo Insurance Co. Ltd. (MSI) maintains a solid business franchise, with the third-largest market share among Japanese domestic non-life insurers. MSI's strong market position is backed by a well-recognized brand name, and its relationship with the Mitsui and Sumitomo groups. Standard&Poor's expects that the company will continue to maintain and enhance its business franchise and market share, by taking advantage of its extensive distribution networks and strong brand name. In fiscal
