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Taiyo Mutual, Nipponkoa in nonlife insurance tie-up

TOKYO, Japan - Ken Matsuzawa (L), president of Nipponkoa Insurance Co., Masahiro Yoshiike (C), president of Taiyo Mutual Life Insurance Co., and Tsunaie Kanie, president of Taiyo Fire & Marine Insurance Co., speak about their alliance at a news conference in Tokyo on Aug. 23. Nipponkoa Insurance Co. and Taiyo Mutual Life Insurance Co. have agreed to tie up in the nonlife insurance business. They have also agreed to merge Taiyo Mutual's nonlife insurance unit, Taiyo Fire & Marine Insurance Co., with Nipponkoa.