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Insurer-industry ties affect Japan's captive market prospects: A.M. Best

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A.M. Best Co. Inc. said in a report that Japanese captive insurers make up only a small fraction of the total number of captives worldwide.

This can be mainly attributed to close ties between the country's insurers and industrial companies, reports Bernama.

The lower number is also partly due to Japan's relatively small liability insurance market, the report said.

An A.M. Best senior analyst said growth prospects for the country's captive market are mixed.

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