Taisei Fire fails due to Sept. 11 attack claims

Taisei Fire fails due to Sept. 11 attack claims

TOKYO, Japan - Taisei Fire & Marine Insurance Co. President Ichiro Ozawa leaves a press conference room Nov. 22, 2001 after announcing his firm has filed for bankruptcy under a special rehabilitation law for insurers, succumbing to the weight of massive claims stemming from the Sept. 11 attacks in the United States. ''An accident involving an airplane crashing in the middle of New York was not something we had included in our calculations,'' he said.

Taisei Fire collapses under Sept. 11 attack claims

Taisei Fire collapses under Sept. 11 attack claims

TOKYO, Japan - Ichiro Ozawa (standing), president of Taisei Fire & Marine Insurance Co., bows at a news conference at the Bank of Japan's head office in Tokyo on Nov. 22. Ozawa said the midsize casualty insurer filed for insolvency proceedings that day due to the weight of massive claims stemming from the Sept. 11 terrorist attacks in the United States.

3 presidents of nonlife insurance firms announce merger plan

3 presidents of nonlife insurance firms announce merger plan

TOKYO, Japan - Ryutaro Sato (L), president of Nissan Fire & Marine Insurance Co., Hiroshi Hirano (C), president of Yasuda Fire & Marine Insurance Co., and Ichiro Ozawa, president of Taisei Fire & Marine Insurance Co., join hands at the Bank of Japan headquarters in Tokyo on Dec. 14 after announcing plans for the three nonlife insurers to merge in April 2002.

Three Japanese nonlife insurers to merge

Three Japanese nonlife insurers to merge

TOKYO, Japan - (From L to R) Ryutaro Sato, president of Nissan Fire & Marine Insurance Co., Ichiro Ozawa, president of Taisei Fire & Marine Insurance Co., and Hiroshi Hirano, president of Yasuda Fire & Marine Insurance Co., shake hands at a news conference Nov. 2 after announcing an agreement to enter talks on their merger in April 2002.

Yasuda Fire, Nissan Fire, Taisei Fire eye integration

Yasuda Fire, Nissan Fire, Taisei Fire eye integration

TOKYO, Japan - Yasuda Fire & Marine Insurance Co. (file photo of headquarters), Japan's second-largest nonlife insurer, has entered final talks with Nissan Fire & Marine Insurance Co. and Taisei Fire & Marine Insurance Co. to integrate management, possibly by April 2002, industry sources said Nov. 2. Each firm has close business ties with the Mizuho Financial Group.