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Mitsui, Aioi to begin talks to form Japan's biggest nonlife insurer

Photo taken on March 28, 2025, shows the headquarters of Aioi Nissay Dowa Insurance Co. in Tokyo. Aioi Nissay Dowa is set to begin merger talks with Mitsui Sumitomo Insurance Co. to create Japan's largest standalone nonlife insurance firm, their parent company said the same day.

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Mitsui, Aioi to begin talks to form Japan's biggest nonlife insurer

Photo taken on March 28, 2025, shows the headquarters of Mitsui Sumitomo Insurance Co. in Tokyo. Mitsui Sumitomo is set to begin merger talks with Aioi Nissay Dowa Insurance Co. to create Japan's largest standalone nonlife insurance firm, their parent company said the same day.

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Japan's largest nonlife insurer launched

TOKYO, Japan - Masaya Futamiya, president of Sompo Japan Nipponkoa Insurance Inc., gives an address in Tokyo on Sept. 1, 2014, at a commemoration ceremony for the new company created through a merger of Sompo Japan Insurance Inc. and Nipponkoa Insurance Co. The new entity is Japan's largest nonlife insurer, exceeding Tokio Marine & Nichido Fire Insurance Co.

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NKSJ group officials

TOKYO, Japan - NKSJ Holdings Inc. President Masatoshi Sato (C) shakes hands with the presidents of the company's two key nonlife insurance units -- Sompo Japan Insurance Inc. President Kengo Sakurada (R) and Nipponkoa Insurance Co. President Masaya Futamiya -- after a press conference in Tokyo on Jan. 27, 2012.

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Tokio Marine to acquire U.S. nonlife insurer for $4.7 billion

TOKYO, Japan - Shuzo Sumi, president of Tokio Marine Holdings Inc., speaks at a news conference in Tokyo on July 23 about a plan to acquire all outstanding shares of U.S. nonlife insurer Philadelphia Consolidated Holding Corp. for $4.7 billion (498.7 billion yen).

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5 of 6 top nonlife insurers see drops in FY 2006 profits

TOKYO, Japan - Millea Holdings Inc. Executive Director Tomohiro Kotani (C) speaks at a press conference about the company's business results for fiscal 2006. Five of Japan's six major nonlife insurers saw their net profits decline in fiscal 2006 due to increased insurance payments following a powerful typhoon and risings costs to deal with their nonpayment of legitimate insurance claims.

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Nonlife insurers punish execs over failures to pay benefits

TOKYO, Japan - Nipponkoa Insurance Co. Chairman Ken Matsuzawa (C), President Makoto Hyodo (2nd R), and other Nipponkoa executives bow in apology at a news conference in Tokyo on April 13 where the insurer said it will punish senior executives over failure to pay due insurance benefits. Matsuzawa will take a 50 percent executive pay cut over six months and Hyodo 30 percent, starting in May.

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Nonlife insurers punish execs over failures to pay benefits

TOKYO, Japan - President Kunio Ishihara (L) and Senior Managing Director Shuzo Sumi (R) of Tokio Marine & Nichido Fire Insurance Co. bow in apology at a news conference in Tokyo on April 13 where the insurer said it will punish senior executives over failure to pay due insurance benefits. Ishihara is stepping down and will be replaced by Sumi.

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6 major nonlife insurers report 1.2 bil. yen in nonpayment cases

TOKYO, Japan - Japan's six major property and casualty insurance firms failed to pay a total of 1.22 billion yen in insurance claims in 4,365 cases involving medical and other ''third-sector'' insurance policies between July 2001 and June 2006, according to figures reported by them Oct. 31 to the Financial Services Agency. Kunio Ishihara (C), president of Tokio Marine & Nichido Fire Insurance Co., and executives of five other companies apologized during a news conference in Tokyo the same day.

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Major insurers' nonpayment cases rise to over 200,000

TOKYO, Japan - Kunio Ishihara, president of Tokio Marine & Nichido Fire Insurance Co., apologizes at a news conference in Tokyo on Sept. 29 after Japan's top six nonlife insurers, including his company, have reported to financial authorities thousands of additional cases of failure to pay promised insurance benefits to policyholders.

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American executive from AIG to head Fuji Fire & Marine

OSAKA, Japan - Fuji Fire & Marine Insurance Co. said May 21 that Bijan Khosrowshahi (L) from its major shareholder American International Group Inc. will assume its presidency in June, making him the first non-Japanese to head a listed Japanese nonlife insurance company. Photo shows Khosrowshahi, who will replace Katsumi Nakajima, speaking at a news conference in Osaka.

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Millea, Asahi scrap management integration plan

TOKYO, Japan - Asahi Mutual Life Insurance Co. President Yuzuru Fujita speaks at a news conference in Tokyo on Jan. 10 after Millea Holdings Inc., a large nonlife insurer with a life insurance division, and financially troubled Asahi announced an agreement to scrap a plan for their management integration in 2004.

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Meiji, Yasuda to form nonlife alliance with Nipponkoa

TOKYO, Japan - Mikihiko Miyamoto (L), president of Yasuda Mutual Life Insurance Co., and Ryotaro Kaneko, president of Meiji Life Insurance Co., shake hands after signing a memorandum to merge to create Meiji Yasuda Life Insurance Co. The merged company will tie up with Nipponkoa Insurance Co. in the nonlife insurance business.

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Yasuda, Nissan merge to create No. 2 nonlife insurer

TOKYO, Japan - Hiroshi Hirano (2nd from R), president of Sompo Japan Insurance Inc., and other company executives join hands at a ceremony July 1 in Tokyo to mark the launch of Sompo Japan. Yasuda Fire & Marine Insurance Co. and Nissan Fire & Marine Insurance Co. merged to create Sompo Japan, Japan's second-largest nonlife insurer.

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Nonlife insurers eye sharing payments for terrorist incidents

TOKYO, Japan - Hiroyuki Uemura, chairman of the Marine and Fire Insurance Association of Japan, speaks with the media in Tokyo on march 20. He said the association plans to set up a fund designed to help its member nonlife insurers share payments over incidents linked to terrorism.

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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.

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(2)New banks, nonlife insurers kick off operations

TOKYO, Japan - Shigemitsu Miki (L), president of Mitsubishi Tokyo Financial Group Inc., and its chairman Akio Utsumi, cut a ribbon at a ceremony in Tokyo on April 2 to mark the launch of the company, a merged body of the Bank of Tokyo-Mitsubishi, Mitsubishi Trust & Banking Co. and Nippon Trust Bank. Mitsubishi-Tokyo is one of three megabank groups which began operations the same day.

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(1)New banks, nonlife insurers kick off operations

TOKYO, Japan - Hideo Ogasawara, president of UFJ Holding Inc., a holding firm of Sanwa Bank, Tokai Bank and Toyo Trust & Banking Co., speaks at the company's opening ceremony in Tokyo on April 2. Three new megabank groups -- Sumitomo Mitsui Banking Corp., formed by the merger of Sumitomo Bank and Sakura Bank, Mitsubishi Tokyo Financial Group Inc., a merged body of the Bank of Tokyo-Mitsubishi, Mitsubishi Trust & Banking Co. and Nippon Trust Bank, as well as UFJ Holdings Inc. -- began operations the same day.

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(3)New banks, nonlife insurers kick off operations

TOKYO, Japan - Akeshige Okada (L), chairman of Sumitomo Mitsui Banking Corp., and its chairman Yoshifumi Nishikawa shake hands at a ceremony to mark the launch of the company in Tokyo on April 2. The day's launches of three megabank groups, including Sumitomo Mitsui, usher in a new era of Japan's Big Four megabank groups.

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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.

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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.

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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.

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Dai-ichi Life, Yasuda Fire agree on alliance

TOKYO, Japan - Tomijiro Morita (L), president of Dai-ichi Mutual Life Insurance Co., and Hiroshi Hirano, president of Yasuda Fire & Marine Insurance Co., shake hands after announcing in Tokyo on Aug. 28 they have agreed to form a wide-ranging business alliance. The alliance between Dai-ichi Mutual, Japan's second-largest life insurer, and Yasuda Fire, the No. 2 nonlife insurer, is the first between a major life insurer and nonlife insurer in Japan.

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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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Major insurers' nonpayment cases rise to over 200,000

TOKYO, Japan - Kunio Ishihara, president of Tokio Marine & Nichido Fire Insurance Co., apologizes at a news conference in Tokyo on Sept. 29 after Japan's top six nonlife insurers, including his company, have reported to financial authorities thousands of additional cases of failure to pay promised insurance benefits to policyholders. (Kyodo)

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6 major nonlife insurers report 1.2 bil. yen in nonpayment cases

TOKYO, Japan - Japan's six major property and casualty insurance firms failed to pay a total of 1.22 billion yen in insurance claims in 4,365 cases involving medical and other ''third-sector'' insurance policies between July 2001 and June 2006, according to figures reported by them Oct. 31 to the Financial Services Agency. Kunio Ishihara (C), president of Tokio Marine & Nichido Fire Insurance Co., and executives of five other companies apologized during a news conference in Tokyo the same day. (Kyodo)

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Nonlife insurers punish execs over failures to pay benefits

TOKYO, Japan - Nipponkoa Insurance Co. Chairman Ken Matsuzawa (C), President Makoto Hyodo (2nd R), and other Nipponkoa executives bow in apology at a news conference in Tokyo on April 13 where the insurer said it will punish senior executives over failure to pay due insurance benefits. Matsuzawa will take a 50 percent executive pay cut over six months and Hyodo 30 percent, starting in May. (Kyodo)

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Nonlife insurers punish execs over failures to pay benefits

TOKYO, Japan - President Kunio Ishihara (L) and Senior Managing Director Shuzo Sumi (R) of Tokio Marine & Nichido Fire Insurance Co. bow in apology at a news conference in Tokyo on April 13 where the insurer said it will punish senior executives over failure to pay due insurance benefits. Ishihara is stepping down and will be replaced by Sumi. (Kyodo)

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5 of 6 top nonlife insurers see drops in FY 2006 profits

TOKYO, Japan - Millea Holdings Inc. Executive Director Tomohiro Kotani (C) speaks at a press conference about the company's business results for fiscal 2006. Five of Japan's six major nonlife insurers saw their net profits decline in fiscal 2006 due to increased insurance payments following a powerful typhoon and risings costs to deal with their nonpayment of legitimate insurance claims. (Kyodo)

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Tokio Marine to acquire U.S. nonlife insurer for $4.7 billion

TOKYO, Japan - Shuzo Sumi, president of Tokio Marine Holdings Inc., speaks at a news conference in Tokyo on July 23 about a plan to acquire all outstanding shares of U.S. nonlife insurer Philadelphia Consolidated Holding Corp. for $4.7 billion (498.7 billion yen). (Kyodo)

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Meiji, Yasuda to form nonlife alliance with Nipponkoa

TOKYO, Japan - Mikihiko Miyamoto (L), president of Yasuda Mutual Life Insurance Co., and Ryotaro Kaneko, president of Meiji Life Insurance Co., shake hands after signing a memorandum to merge to create Meiji Yasuda Life Insurance Co. The merged company will tie up with Nipponkoa Insurance Co. in the nonlife insurance business. (Kyodo)

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Tokio Marine's Kitazawa to become president

Toshifumi Kitazawa, executive vice president of Tokio Marine & Nichido Fire Insurance Co., holds a press conference in Tokyo on Jan. 13, 2016, after the nonlife insurer announced Kitazawa will succeed Tsuyoshi Nagano as president on April 1, when Nagano will become chairman. (Kyodo) ==Kyodo

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