Daiichi Mutual Fire and Marine Insurance Co. ceased operations on government orders, after the company was unable to pay accumulated debts which exceeded its assets by $485.5 million. It was the first Japanese p/c insurer to do so since World War II.
Analysts said that the relatively small company’s failure was not likely to affect the overall Japanese p/c market, which they characterized as “fundamentally sound.”
Topics Carriers Property Casualty
Was this article valuable?
Here are more articles you may enjoy.
Chubb: Cyber Claim Severity Nearly Doubled for Large Businesses 
Dei Primus Holdings Launches LUCY, a Fully Autonomous Insurance Carrier 
A Little Behind Schedule, But Execs Say Sypher Insurance is on Track for May Debut 
Agency Customer Rep and Miami Businessman Killed in Separate Boat Accidents 
