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Article: Tokio Marine, Nichido launch nonlife holding firm in Japan.
- Article from:
- Australasian Business Intelligence
- Article date:
- April 5, 2002
CopyrightCOPYRIGHT 2002 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Apr 05, 2002 (The Asian Wall Street Journal
ABIX via COMTEX) -- Millea Holdings is the holding firm for a merger involving Nichido Fire & Marine Insurance. The other party in the merger of the two non-life insurance companies in Japan is Tokio Marine & Fire Insurance. The consolidated entity will have a third member from April 2003, Kyoei Mutual Fire & Marine Insurance. Asahi Mutual Life Insurance, Nichido Fire & Marine Insurance and Tokio Marine & Fire Insurance created the Millea Insurance Group in 2000. Millea Holdings is placed under the umbrella of the Millea Insurance Group. The capitalisation of the holding company is Y150bn.
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