Nonlife insurers punish execs over failures to pay benefits

Nonlife insurers punish execs over failures to pay benefits

TOKYO, Japan - Nipponkoa Insurance Co. Chairman Ken Matsuzawa (C), President Makoto Hyodo (2nd R), and other Nipponkoa executives bow in apology at a news conference in Tokyo on April 13 where the insurer said it will punish senior executives over failure to pay due insurance benefits. Matsuzawa will take a 50 percent executive pay cut over six months and Hyodo 30 percent, starting in May. (Kyodo)

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  • ILEA000035814
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  • 2007/4/13 00:00:00
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  • Kyodo / Kyodo News Images
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