Singapore, January 8, 2008 – Three Singapore research projects were awarded the Mitsui Sumitomo Insurance Welfare Foundation (MSIGWF) Research Grant today at an awards presentation ceremony. This is the first time the not-for-profit foundation has extended the availability of the grant and its benefits to the rest of Asia.
Mr Patrick Wale, Co-CEO of the Mitsui Sumitomo Insurance Group (MSIG) said, “The MSIGWF Research Grant is one of many long-standing and successful CSR initiatives from our parent company in Japan. A total of 1,511 awards with a value of JPY1,915 million (S$25 million) has been disbursed to-date.”
Founded in 1975 by MSIG, which has an estimated JPY 73.5 billion in corporate value generated by CSR activities in fiscal year 2006, the foundation handed out 52 awards worth a total of JPY39,900,000 (S$523,000) in 2007.
Singapore as programme’s launch pad in Asia
Wale added, “The grant’s two areas of emphasis – traffic safety and senior citizen welfare – resonate with Singapore as a cosmopolitan city with a maturing population. After Singapore, the grant will progressively roll out over the next few years in other Asian markets.”
The three awarded Singapore research projects will explore topics related to “safety consciousness of motorcyclists”, “challenges faced by older men living alone” and “effects of exercise on mental health in the elderly”.
Wale shared, “We have consulted with the Traffic Police Department and found that minimising motorcyclists’ accidents is one of their on-going concerns.”
Budding or less renowned researchers to benefit from grant
Mr Kazuo Sekiguchi, Executive Director of MSIGWF said, “The grant reaches out to budding or less renowned researchers and we encourage them to send in their applications. We hope to nurture a future generation that is aware and involved in social concerns and risks, in particular the prevention of traffic accidents and eldercare.”
The grant has supported many researchers in Japan. A former recipient is neuroscientist Professor Ryuta Kawashima, who helped develop the popular Nintendo DS game “Brain Training: How Old Is Your Brain”. He was awarded a MSIGWF grant in the early years of his career in 2002 and for his research on the prevention of aging of the brain.
In addition, interesting “traffic safety” projects funded by the foundation include a human body model used to simulate motor vehicle passengers at the time of traffic accident; an analysis of the tendency and risks of professional drivers getting into traffic accidents; as well as a study of the safety level of the elderly and the disabled at pedestrian crossings and how the findings can be integrated into traffic signal control system.
Editor’s Notes:
- MSIG’s estimated JPY 73.5 billion in corporate value generated by CSR activities in fiscal year 2006 is calculated based on the CSRV brand valuation model laid out by the Ministry of Economy, Trade and Industry’s Committee on Brand Value Evaluation, Japan.
- Singapore is ranked in the top 20, alongside Japan and Hong Kong (China), in the 2007 Responsibility Competitive Index issued by AccountAbility, which assesses responsible business practices in 108 countries and markets.
For further information, please contact:
Angelina SEOW, Brand and Communications
Manager MSIG Holdings (Asia) Pte Ltd
Tel: (65) 6827 2994
Greg TING Wee Liang, PR Consultant
HP: (65) 9791 7870
Email: greg.ting@gmail.com
About MSIG Holdings (Asia) Pte Ltd:
MSIG Holdings (Asia) Pte Ltd is part of Mitsui Sumitomo Insurance Group (MSIG). With more than 100 years’ depth in general insurance, MSIG operates in over 40 territories in Asia Pacific, United States and Europe, of which 16 are in Asia. MSIG’s worldwide net premiums are over USD 12.7 billion with total assets of more than USD 76.6 billion, as at 31 March 2007.
MSIG has received strong financial ratings from leading rating agencies, including an AA financial strength rating from Standard & Poor’s, an Aa3 financial strength rating from Moody’s Investors Service and an A+ financial strength rating from A.M. Best. MSIG shares are listed under the Tokyo, Osaka and Nagoya stock exchanges.
