Life insurers fail to pay 26.8 bil. yen insurance over 5 years

Life insurers fail to pay 26.8 bil. yen insurance over 5 years

TOKYO, Japan - Sumitomo Life Insurance Co. President Shinichi Yokoyama (C) and other Nippon Life executives bow in apology over nonpayment of insurance money at a news conference in Tokyo on April 13. Sumitomo is among 12 leading life insurance companies in Japan that admitted they had skipped 26.8 billion yen in insurance money payment in 230,000 cases over the five years from fiscal 2001. (Kyodo)

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  • ILEA000035817
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  • Kyodo / Kyodo News Images
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