Tokio Marine, Nichido Affirm Merger

January 11, 2001

Confirming plans announced last September, Japans largest p/c insurer, Tokio Fire & Marine Insurance Co. Ltd., and Nichido Fire & Marine will merge into a joint holding company in April of 2002. Further plans call for mutual insurer Asahi Life to become part of the new company by 2004, following its plans to demutualize.

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