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Japan: Top nonlife insurers' fiscal 2013 profits up


Tokio Marine Holdings Inc. recorded a 42% year-on-year increase in net profit to 184 billion Japanese yen ($1.8 billion) for the year ended March 31, The Japan News reports citing Jiji Press.

MS&AD Insurance Group Holdings Inc. saw net profit rise 12% to JPY 93.4 billion, while NKSJ Holdings Inc. posted a 1.3% increase to JPY 44.1 billion. The growth was attributed to solid fire and automobile insurance sales and expansion in overseas businesses.

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