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3 Japanese nonlife insurers to form holding firm

TOKYO, Japan - Three Japanese property and casualty insurance companies announced Oct. 19 they will establish a holding company by April 2002, creating Japan's largest nonlife insurance group. Takeo Inokuchi (R), president of Mitsui Marine and Fire Insurance Co., Ken Matsuzawa (L), president of Nippon Fire and Marine Insurance Co., and Mutsuharu Okamoto (C), president of Koa Fire and Marine Insurance Co., shake hands at a press conference the same day in Otemachi, Tokyo.

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Nippon Fire, Koa Fire announce merger accord

TOKYO, Japan - Ken Matsuzawa (L), president of Nippon Fire & Marine Insurance Co., and Mutsuharu Okamoto, president of Koa Fire & Marine Insurance Co., shake hands at a news conference March 23 after announcing the two companies have agreed to merge April 1, 2001. The merger creates Japan's fourth-largest property and casualty insurance company in terms of assets.

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3 Japanese nonlife insurers to form holding firm

TOKYO, Japan - Three Japanese property and casualty insurance companies announced Oct. 19 they will establish a holding company by April 2002, creating Japan's largest nonlife insurance group. Takeo Inokuchi (R), president of Mitsui Marine and Fire Insurance Co., Ken Matsuzawa (L), president of Nippon Fire and Marine Insurance Co., and Mutsuharu Okamoto (C), president of Koa Fire and Marine Insurance Co., shake hands at a press conference the same day in Otemachi, Tokyo.