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Sompo Japan and Nipponkoa merge to form Japan's largest nonlife insurer


A new nonlife insurer – Sompo Japan Nipponkoa Insurance Inc. – has been established through a merger of Sompo Japan Insurance Inc. and Nipponkoa Insurance Co. Ltd. in Japan, reported Mainichi.

The company is now the country's largest nonlife insurer, leaving Tokio Marine & Nichido Fire Insurance Co. Ltd. behind.

The net premium revenue of the new entity was 2.08 trillion Japanese yen ($20 billion) in fiscal year 2013-14.

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