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.