Mitsui takes 11% stake in UIB

Mitsui Sumitomo Insurance Company has taken an 11 percent stake
in (re)insurance broker UIB Group, the intermediary said this
morning.
The arrangement marks an extension of a long-term partnership
between the firms, the broker said.
UIB management will maintain control of the business.
Bassem Kabban, chairman and CEO of UIB Group, said the new
investment would strengthen the business, and noted that
Mitsui's involvement complemented the broker's other
Japanese partner Sompo Japan Nipponkoa, whic