Japan’s Daiichi Mutual Fire & Marine Insurance Co., which collapsed in May, will most likely be purchased by Shinsei Bank, industry sources told Kyodo News Service Thursday. The two companies will try to come up with an agreement sometime this …
Japanese Prime Minister Yoshiro Mori and U.S. President Bill Clinton agreed over the weekend to a fourth year talks to deregulate bilateral trade. The latest discussions ended with a joint report to the leaders on high-stakes sectors ranging from energy, …
Japan’s Fuji Fire & Marine has agreed with a Japanese subsidiary of American International Group to align in the non-life insurance field. The move could strengthen Fuji’s product development and marketing in Japan’s fiercely competitive insurance market. Fuji plans to …
CIGNA Corp. President and CEO H. Edward Hanway urged the U.S. Senate to approve the bill passed by the House giving China permanent normal trade relations status (PNTR). While approval by the Senate is widely expected, as there is much …
Japan’s leading life insurers are feeling the effects of increased competition due to deregulation and low Japanese interest rates, reporting falls in premium income and losses stemming from sluggish returns on investments. The most recent to succumb to the difficult …
Prudential Insurance Co. will invest up to $275.9 million in Kyoei Life Insurance Co., making it the biggest shareholder in Japan’s 10th largest life insurance company. The companies are expected to possibly create a joint venture to sell insurance and …
Holland’s ING Group announced that it plans to consolidate “its extensive reinsurance expertise and operations under the name ING [lion] Re. “This is a response to increasing globalisation in the reinsurance sector and is designed to ensure ongoing organic profit …
China, PNTR and WTOÐPart II What is the Chinese Market? The Western world has long had an ongoing fascination with China’s enormous population-1.2 billion and counting. Corporate leaders fantasize that, if only 10 percent of that population bought insurance coverage …
AFLAC Japan, a member of AFLAC Inc. group of companies, announced plans to start an on-line insurance company in partnership with NTT Communicationware Corp. Ltd. “The new venture, to be called aflacdirect.com, will begin operations in July. It will be …
China, PNTR and WTOÐRealism and Caution The current phase of American trade and foreign policy towards China, which began with the recognition of the Communist regime by the Nixon administration in 1972, will reach another milestone on May 22, when …
