Search｜Photos & Images & Videos｜KYODO NEWS IMAGES INC

Search abandoned for acquirer of failed Daiichi Mutual

TOKYO, Japan - Yuzuru Araki, administrator of failed Daiichi Mutual Fire & Marine Insurance Co., speaks at a news conference in Tokyo on Jan. 17. He said he has given up efforts to find a financial institution willing to acquire the midsize casualty insurer.

E

Daiichi Mutual Fire execs meet press after suspension order

TOKYO, Japan - Koichi Hirai (R), president of Daiichi Mutual Fire & Marine Insurance Co., and its chairman Fujio Matsumuro, meet the press in Tokyo on May 1, after the Financial Supervisory Agency ordered the Tokyo-based insurer to suspend some of its operations. The midsize insurer told the agency earlier in the day that it had abandoned its rehabilitation attempt.

E

Daiichi Mutual Fire ordered to halt operations

TOKYO, Japan - People bustle around Daiichi Mutual Fire & Marine Insurance Co. in Tokyo's Chiyoda Ward on May 1 after the Financial Supervisory Agency (FSA) ordered the debt-ridden company to suspend some of its operations. The FSA made the move after the midsize insurer told the agency earlier in the day that it had abandoned its rehabilitation efforts. Daiichi is the first casualty and property insurer to collapse in Japan's postwar history.